Financial News and Portfolio Management Discussion through September 9th
US stocks eased over the week on concerns over Hurricane Irma and North Korea tensions. The S&P 500 declined 0.6% and the Dow fell 0.9%, for the week. Abroad, Europe eased 0.2% and Japan sank 2.1%, for the week. Investors flocked to safe havens over the week with the 10 year Treasury ending the week at 2.06% its lowest level since November.
President Trump and Democrats came to an agreement on Hurricane Harvey aid and to suspend borrowing limits for three months. The deal averts a potential government default that would have occurred without an agreement at the end of the month.
The ECB will likely announce plans to begin to reduce their bond buying program at their meeting next month. They also upgraded their growth forecast for the region.
Lily plans to cut 8% of its workforce.
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.