Financial News and Portfolio Management Discussion through July 28th

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

US stocks rose over the week as solid earnings and some positive trade news powered stocks to their fourth weekly gain in a row.  The S&P 500 rose 0.6% and the Dow gained 1.6% for the week.  Abroad, Japan edged up 0.1% and Europe jumped 1.7% for the week.  The yield on the 10-year Treasury rose over the week to finish at 2.96%, its largest weekly gain since mid-May.  Article

Existing home sales fell 0.6% in June from May and have declined over the past year in five of the first six months of the year.  Prices have risen, but mortgage rates are up and inventory is low.

Reports emerged that the Bank of Japan might change its interest rate target driving global government bond yields higher.

The Trump administration has offered a package of $12 billion in aid to farmers to help them cope with tariffs.  Article

After meeting with an EU leader the US and Europe agreed to halt any further tariffs as they work to reduce trade barriers.

After its meeting the ECB left its key rates and monetary stimulus unchanged and said it would expect to keep interest rates low well into 2019.

US GDP rose 4.1% in the 2nd quarter the fastest pace in nearly four years, however lower than expected.

Google, United Technologies, Visa,  and Boeing all posted strong earnings reports, while tech stalwarts Twitter and Facebook disappointed.  Article

 

 

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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