Financial News and Portfolio Management Discussion through September 7th

US stocks rose over the week as investors expect the Fed to cut its benchmark rate at its meeting at the end of the month and on improved trade sentiment.  The S&P 500 rose 1.8% and the Dow climbed 1.5% for the week.  Abroad, Japan jumped 2.4% and Europe gained 2.0% for the week.  The 10-year Treasury yield rose as the economic mood turned slightly less pessimistic to finish the week at 1.55%.

Employers added 130,000 employees in August, below expectations and June and July hiring numbers were revised down.  The unemployment rate remained at 3.7% and wage growth held steady at 3.2%.

The Fed is likely to cut the Fed Funds rate by a quarter percentage point at their next meeting later this month.

The US and China agreed to hold trade talks in Washington in October, reigniting hopes of a deal.

British lawmakers took the first step in ensuring that the country doesn’t exit the EU without a plan in place, thwarting the PM’s plan to potentially leave the country bloc without a deal

The eurozone purchasing managers index showed contraction, but it was at a lesser rate than July.

A survey of Chinese manufacturers showed manufacturing reached a five-month high in August.

US manufacturing contracted for the first time in three years in August.

Japanese manufacturers cut spending for the first time in two years in the second quarter.

China’s central bank released the equivalent of $126 billion to banks in hopes of spurring its economy.



There is no guarantee that any investment strategy, including those described here, will be successful. Any investment or investment strategy can lose money. Past performance does not guarantee or predict future results. You should not assume that any discussion or information contained herein serves as the receipt of, or as a substitute for, personalized investment advice from Raffa Wealth Management, LLC. This information was gathered from reliable sources, but we cannot guarantee accuracy. Indexes do not reflect the fees associated with actual investments and such fees would reduce the performance illustrated. Source: FMG Suite, LLC.
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