NASDAQ Jumped Driven by Technology and Biotech Companies

Financial News and Portfolio Management Discussion through September 17th

US stocks gained over the week as investors reassessed the potential for a Fed rate hike in September. The S&P 500 rose 0.5% and the Dow gained 0.1%.  The NASDAQ jumped 2.3% driven by technology and biotech companies.  Internationally, Europe fell 2.2% and Japan dropped 2.6% for the week.  Oil dropped to its lowest level in a month at $43.08 a barrel, down 6.2% for the week.  The yield on the 10 year Treasury ticked up over the week to 1.70%.

Recent comments and interviews from Fed officials make it appear that an increase in the Federal Funds rate is not likely until late in the year.

retail_salesRetail sales fell in August for the first time since March.

The CPI rose 0.2% in August with core prices gaining 0.3%. Over the past year prices are up 1.1% with core prices up 2.3%.

Fertilizer firms Potash and Agrium agreed to a merger forming a $27 billion company.

Bayer agreed to buy Monsanto for $57 billion creating a farm giant.

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

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