Financial News for the Week Ending September 6th

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

US Stocks rose slightly over the week on generally positive economic news and additional stimulus measures announced by the ECB, but set new record highs yet again.  The S&P 500 and Dow rose 0.2% for the week.  Internationally, both Japan and Europe rose 1.6% for the week.  The 10 year Treasury yield rose over the week as bonds fell to finish at 2.46%.   Article

August saw the year’s slowest hiring rate with only 142,000 new jobs added.  The hiring number disappointed investors who expected the US to be shifting into a higher gear.  June and July were also revised down a combined 28,000 jobs.  The unemployment rate dropped to 6.1% as less people looked for work.  Article

The US purchasing managers’ index rose in August topping expectations of a decline and hitting the highest level since March 2011.

Construction spending ticked up 1.8% in July.

August auto sales rose to an annualized pace of 17.5 million, the fastest pace since January 2006.

The ECB announced a surprise rate cut to its main lending rate by 0.10 percentage points to 0.05% and -0.1% cut on deposits to -0.20% (banks pay to hold deposits with the ECB) in order to try to fight falling inflation and stimulate weak growth in the euro zone.  They will also buy covered bank bonds and asset backed securities.  Article

Alibaba announced plans for their IPO that values the company at $155 billion, which would make it one of the largest listed US Stocks and be one of the largest IPOs ever.

 

 

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.
Bookmark this page