Financial News and Portfolio Management Discussion through September 16th
US stocks had one of their best weeks of the year, hitting record highs, with Hurricane Irma not as bad as feared. The S&P 500 rose 1.6% and the Dow jumped 2.2% for the week. Internationally, Japan soared 3.3% and Europe rose 1.4% for the week. The yield on the 10 year Treasury rose over the week to finish at 2.20% up from 2.06% from the previous week.
Median US household income hit the highest inflation adjusted level ever last year, and is up 3.2% from a year before.
The CPI-U rose 0.4% in August, the largest increase since January, topping expectations. Core prices rose 0.2%. For the trailing year prices have risen 1.9%.
The Bank of England announced that they are likely to increase interest rates from their current record low of 0.25% over the coming months. Inflation readings have been higher than expected.
Apple released three new phones including the iPhone X which will retail for $1,000.
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.