Financial News and Portfolio Management Discussion through June 18th

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

Stocks sank over the week on growing fears that Britain would vote to leave the EU. The S&P 500 fell 1.2% and the Dow dropped 1.1% over the week. Internationally, Japan plunged 6.0% and Europe sank 2.1% for the week.  The yield on the 10 year Treasury ticked down for the third straight week to finish at 1.62% its lowest level since August 2012.  Article

US retail sales rose a better than expected 0.5% in May.  Article

The Fed elected to keep short term interest rates unchanged as expected, but also lowered their expectations for rate increases in future years at their June Meeting.  Article

US inflation rose 0.2% in May driven by rents and gas for the third straight monthly increase. Overall prices are up 1.0% from a year earlier.  Excluding food and energy prices are up 2.2%.

The Bank of Japan elected to stand pat and not adopt any new stimulus measures.

Microsoft agreed to buy LinkedIn for $26.2 billion making it the largest acquisition in the company’s history.

 

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Raffa Wealth Management is an independent investment advisor providing nonprofit organizations, high net-worth investors, and qualified retirement plans with a full range of investment consulting services.  We were established to fill the need for transparency, clarity, and vision in the professional management of investment assets.   Visit us at www.raffawealth.com

 

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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