Financial News and Portfolio Management Discussion through September 30th
US stocks had another positive week ending the quarter at record highs on optimism about tax reform. The S&P rose 0.7% and the Dow gained 0.2% for the week. Internationally, Japan edged up 0.2% and Europe increased 1.3% for the week. The yield on the 10 year Treasury ended the month at 2.33% its highest level since late July.
Angela Merkel won a 4th term as chancellor of Germany however a surge from the right reduced her level of support.
Fed chairwomen Yellen defended the Feds expectations to gradually raise rates despite recent weak inflation.
US GDP rose 3.1% in the second quarter in the final revision, up from the previous estimate of 3.0%. It was the best quarter for growth in two years.
Businesses and households were more upbeat in September about their prospects then at any time in the past decade.
The German unemployment rate fell to a record low.
Equifax announced the CEO was resigning in the firm’s latest response to the massive hack of the credit-reporting firm.
Government officials decided to remove federal oversight over insurer AIG after the firm had been monitored since the financial crisis.
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.