Financial News and Portfolio Management Discussion through September 12th
US Stocks posted their best week in nearly six months as expectations for the Fed to raise interest rates at their September meeting declined. The S&P 500 and Dow rose 2.1% for the week. Internationally, Japan was up 2.7% and Europe increased 0.7% for the week. The yield on the 10 year Treasury bond edged up to finish the week 2.18%.
A majority of economists now think the Fed will hold off on raising interest rates at its September meeting.
Brazil’s debt rating was cut to junk status by S&P.
Twelve of the largest banks and two industry groups have reached a preliminary agreement to pay $1.87 billion in fines that they colluded to rig credit derivative markets.
United’s CEO stepped down due to a federal investigation into the firm’s relationship with former chairmen for the NY and NJ Port Authority.
Reposted from the Raffa Wealth Management Blog.
All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC