Financial News and Portfolio Management Discussion through May 12th

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

US stocks surged over the week on reduced inflation concerns.  The S&P 500 rose 2.4% and the Dow gained 2.3% for the week.  Abroad, Japan climbed 1.3% and Europe was up 1.4% for the week.  The yield on the 10-year Treasury ended the week at 2.97%, up slightly over the past week, but has gained over five of the past six weeks. Oil ended the week at $70.70 a barrel on concerns over renewal of sanctions on Iran.  Article

Core CPI rose just 0.1% in April, less than economists were expecting.

RBS agreed to a $4.9B settlement with the Dept. of Justice over its involvement in mortgage crisis.

Of the 85% of S&P 500 companies that have reported earnings so far, the firms have bought back $158 billion of their own stock.  It is on pace for the biggest amount in any quarter since the data was first tracked.  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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