Financial News and Portfolio Management Discussion through October 17th
US Stocks rose on positive profit reports to start earnings season and increasing doubts the Fed will raise interest rates this year. The S&P 500 gained 0.9% and the Dow rose 0.8% for the week. Internationally, Japan fell 0.8% and Europe edged up 0.1% for the week. The yield on the 10 year Treasury bond fell over the week to end at 2.03%.
The producer price index fell 0.5% in September and is down 1.1% from a year earlier.
Inflation declined in September for the second month in a row with the CPI dropping 0.2% and is flat for the past year. Excluding food and energy, however, prices are up 1.9% over the past ye
China’s exports and imports fell in September.
US industrial production fell 0.2% in September.
US Retail sales rose just 0.1% in September from August excluding sales of au
Dell agreed to buy EMC for $67 billion.
ABInbev raised its offer to SABMiller to $103.3 billion and Miller’s Board will recommend to shareholders to accept the deal.
GE announced it had agreed to sell its financing arm to Wells Fargo.
Twitter announced it will cut up to 8% of its workforce.
Intel, BofA, Wells Fargo, Citigroup, SunTrust and GE all topped expectations for the past quarter, while JP Morgan, Netflix, Goldman Sachs disappointed investors.
Wal-Mart said it expected profits to decline as much as 12% next year due to increase spending on stores and labor.
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