Financial News and Portfolio Management Discussion through October 18th

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

US stocks ended another volatile week down for the 4th week in a row on global growth and central bank policy worries.  The Dow and S&P 500 dropped 1.0% for the week helped by a rally on Friday.  Abroad, Japan plummeted 5.0% and Europe eased 0.9% for the week.  Investors broadly moved to safe haven investments over the week.  As a result, the 10 Year Treasury bond rose and its yield sank to 2.20% after earlier in the week moving as low as 1.8%.  Energy producers have been hurt as oil has fallen to $82.75 a barrel.  Prices have sunk 20% since June to near a four year low.   Article

The Eurozne posted a 1.8% decline in factory output in August.  Germany lowered its growth forecasts and inflation readings in France and the UK were weak.

US retail sales fell 0.3% in September for the first time since January.  Article

US Industrial production jumped in September rising 1%, the largest increase since May of 2010.

Jobless claims fell to the lowest level since 2000.

China announced it would be dispersing roughly $33 billion into 20 national and regional banks in an attempt to spur lending and growth.  Article

US home building recovered in September posting a 6.3% jump in housing starts, however most of it was driven by apartment construction.  Also new building permits rose just 1.5%.

Johnson and Johnson, Intel, Citigroup, Goldman Sachs, GE and Morgan Stanley all posted positive earnings reports, while JP Morgan, Ebay, and Netflix disappointed.

HBO announced it would offer a streaming service for its eponymous premium cable channel.

 

 

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

DiggLinkedInDeliciousRead It LaterStumbleUponEmailGoogle BookmarksGoogle BuzzFacebookShare
This entry was posted in Monthly Market Commentary, Nonprofit Investing, Personal Financial Management. Bookmark the permalink. Both comments and trackbacks are currently closed.
  • Contact Us
    Raffa Wealth Management
    1899 L Street, NW
    Suite 900
    Washington, DC 20036
    Tel: 202-955-6734