Financial News and Portfolio Management Discussion through July 17th

All the news you need to stay informed about what’s currently driving the market — courtesy of Raffa Wealth Management, LLC.

US stocks fell over the week over concerns over future economic growth and inflation. The S&P 500 fell 1.0% and Dow dipped 0.5% for the week. Abroad, the FTSE All World Ex US was up 0.6% for the week. The yield on the 10-year Treasury fell over the week to end at 1.30%, its lowest level since mid-February.

The CPI rose 5.4% from a year ago, the highest 12 month increase since 2008 and higher than expected.

In comments in front of Congress, Fed Chief Powell said he expected inflation to moderate after bottlenecks and supply chain constraints unwind, but the central bank wouldn’t hesitate to raise interest rates to keep inflation in check.

China’s economy grew 7.9% in the second quarter, in line with estimates. June saw better than expected numbers on factory output, retail sales, and capital investment.

Weekly initial unemployment filings fell to 360,000 over the past week.

Consumer sentiment fell in early July on inflation worries.

US retail sales rose 0.6%, while a drop was expected.

There is no guarantee that any investment strategy, including those described here, will be successful. Any investment or investment strategy can lose money. Past performance does not guarantee or predict future results. You should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Raffa Wealth Management, LLC. This information was gathered from reliable sources but we cannot guarantee accuracy. Indexes do not reflect the fees associated with actual investments and such fees would reduce the performance illustrated.
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