Financial News for the Week Ending September 13th

All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.

US stocks streak of consecutive weekly gains ended at five as investors weighed the prospect of interest rate increases from the Fed sooner than previously expected.  The S&P 500 dropped 1.1% and the Dow fell 0.9% for the week.  Internationally, Europe fell 0.9%, while Japan gained 1.8% for the week.  The 10 Year Treasury yield rose to finish the week at 2.612% as investors considered a potential increase in interest rates by the Fed.  Article

The US dollar has strengthened as the US economy looks stronger than others around the world and with expectations of the Fed raising interest rates providing investors with better yields.  The dollar currently is on its best winning streak in 17 years.

Retail sales rose 0.6% in August from July.  July was also revised to an increase of 0.3%.  Previously the reading had been flat.  Consumers’ increasing their spending level is a strong sign for the economy.  Article

GE has reached an agreement to sell its appliance division to Swedish firm Electrolux for $3.3 billion.  The moves leaves the conglomerate with just is credit and industrial arms.

Apple unveiled new product lines including a smartwatch, a mobile payment system and a larger screened iPhone 6.  Article

 

About

Raffa Wealth Management is an independent investment advisor providing nonprofit organizations, high net-worth investors, and qualified retirement plans with a full range of investment consulting services.  We were established to fill the need for transparency, clarity, and vision in the professional management of investment assets.   Visit us at www.raffawealth.com

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 in this newsletter 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.
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