Financial News and Portfolio Management Discussion through May 15th

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

US stocks were whipsawed over the week on inflation concerns. The S&P 500 and Dow both dropped 1.4% for the week. Abroad, the FTSE All World Ex US fell 1.7% for the week. The yield on the 10-year Treasury yield rose over the week from 1.58% to finish at 1.64%.

China’s produce price index rose 6.8% in April the fast pace since 2017 and raising fears of a global acceleration in inflation.

US home prices rose across the board in the first quarter with home prices up by more than 10% from a year earlier in 89% of metro areas.
US consumer prices climbed a more than expected 4.2% over the past year for the largest jump in inflation since 2008. However, if the effects of price declines that occurred last April are removed prices increased 0.8% in April.

Producer prices posted the largest ever annual jump since the measure was first tracked in 2010.

Initial jobless claims fell to a new post pandemic low.

With roughly 90% of S&P 500 companies reporting earnings to date, 86% have reported earnings that topped estimates, the highest level since the measure was first tracked in 2008.

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.
Bookmark this page