US Stocks, Worker Productivity, US Inflation, and Worldpay

Financial News and Portfolio Management Discussion through August 12th

US stocks posted their worst week since May on weak earnings from retailers and North Korea tensions. The S&P 500 fell 1.4% and the Dow dropped 1.1% for the week. Abroad, Japan eased 1.1% and Europe sank 2.7% for the week. The yield on the 10 year Treasury fell as investors moved to safe havens ending the week at 2.19%, its lowest level since June. The VIX hit the highest level of the year during the week.

Worker productivity picked up in the second quarter rising 0.9% up from 0.1% in the first quarter. However, the pace remains well below the level required to see GDP growth accelerate.

US inflation continued to be subdued in July. The CPI rose 0.1% from the prior month and is up 1.7% over the trailing year, below the Fed’s target.

Vantiv agreed to buy Worldpay for $10.4 billion in a tie up of payment processing giants.

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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