All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
US stocks edged up over the week aided by healthcare and pharmaceutical stocks. The S&P 500 rose 0.2% and the Dow ticked up less than 0.1% for the week. Abroad, Japan gained 1.0% and Europe declined 0.3% for the week. Oil fell 4.4% for the week to $43.01 a barrel entering bear market territory. The yield on the 10 year Treasury fell slightly to finish the week at 2.15%. Article
The largest US banks passed the Fed’s stress tests providing more ammunition for calls of reduced regulations.
New home sales rose 2.9% in May and prices hit a record high.
Travis Kalanick, the embattled founder and CEO of Uber was forced to resign. Article
Oracle posted earnings that well outpaced expectations.
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