Financial News and Portfolio Management Discussion through June 12th

US stocks ticked higher to end the week at a new record high on calm trading. The S&P 500 was up 0.4%, while the Dow fell 0.8% for the week. Abroad, the FTSE All World Ex US rose 0.2% for the week. The yield on the 10-year Treasury continued to ease over the week falling to 1.46% down from 1.56%. It was the fourth straight week of declines and its lowest level since early March.

US CPI rose 5% in May, the largest jump in 13 years. Core prices rose 3.8% the most since 1992.

The ECB upgraded its economic forecast for the region, but said it would keep its aggressive monetary policies in place at its June meeting.

OPEC projected that oil demand would increase 5% over the second half of the year.

Initial jobless claims continued to decline, hitting a new post pandemic low.

US consumer sentiment climbed in early June.

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