Financial News and Portfolio Management Discussion through June 25th

US stocks rebounded sharply for the week as all three major indexes posted gains. The S&P 500 jumped 6.5% for the week and the Dow added 5.4% for the week. Foreign markets were also positive with the FTSE All World Ex US gaining 2.1% for the week. US crude declined to end the week at $107.62 per barrel down from $109.56 the week prior. The yield on the 10-year Treasury fell to 3.13% down from 3.24% the week prior.

Chairman Powell stated to a Senate committee that the actions the Central Bank takes to battle inflation could cause a recession.

The U.S. and European economies slowed in June as surging prices weakened demand for goods and services, increasing the risk of recessions around the world. Manufacturing output in the U.S. and Europe declined for the first time in two years.

Inflation in the U.K. hit a four decade high in May, climbing to 9.1%. The Bank of England expects inflation to reach over 11% before it peaks.

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 herein 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. Source: FMG Suite, LLC.
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