Financial News and Portfolio Management Discussion through May 19th

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

US stocks fell over the week on concerns about global trade policies. The S&P 500 and Dow dropped 0.5% for the week. Internationally, Japan gained 0.8% and Europe rose 0.6% for the week. The yield on the 10 year Treasury rose 0.10% to end the week at 3.07%, near its highest level since 2011. Oil continued to gain, finishing the week at $71.28 a barrel and is now up 18% this year.

Retail sales rose 0.3% in April and March’s reading was revised up.  Article

Growth in the Eurozone slowed over the first quarter to 0.4% from 0.7% in the fourth quarter.

US firms have ramped up capital spending with a 24% increase in the first quarter over the prior year.

Japan’s economy shrank 0.6% in the first quarter for the first time in two years. The contraction was greater than expected.  Article

The average US 30 year mortgage rate hit a 7 year high of 4.61%.

 

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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