Financial News and Portfolio Management Discussion through October 15th

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

US Stocks fell over the week on a disappointing start to earnings season. The S&P 500 dropped 1.0% and the Dow slipped 0.6%, for the week.  International markets were flat with both Europe and Japan relatively unchanged for the week.  The yield on the 10 year Treasury rose to 1.792%.  Article

In minutes released from the Fed’s September meeting it showed there was considerable disagreement among officials about continuing to hold rates steady and reinforced expectations that they would raise rates before the end of the year. Article

September retail sales rose 0.6%.

After weak Chinese data earlier in the week Chinese producer prices turned positive for the first time since 2012, a good sign for economic growth.

Alco kicked off earnings season by cutting its forecast and posting a drop in revenue disappointing investors.

Wells Fargo’s chief John Stumpf announced he was stepping down from the firm immediately in the wake of the sales-tactics scandal.

Samsung cut its earnings guidance and Ericsson issued a profit warning.

Wells Fargo, Citigroup and JP Morgan all saw earnings fall, but topped expectations.

 

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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

 

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