Financial News and Portfolio Management Discussion through May 22nd

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

Inflation concerns remained at the forefront of investors’ minds sending US stocks down. The S&P 500 declined 0.4% and Dow fell 0.5% for the week. Abroad, the FTSE All World Ex US rose 1.3% for the week. The yield on the 10-year Treasury yield was relatively flat for the week finishing at 1.63%.

Japan’s economy shrank 1.3% in the first quarter due to a surge in the coronavirus that reduced consumption.

China’s consumer spending fell short of expectations in April.

The Fed’s April meeting minutes showed the central bank wanted to discuss at a future meeting a plan to begin to reduce its bond buying program given the strong economic numbers and recent high inflation readings.

Weekly initial unemployment claims reached a new post pandemic low of 444,000.

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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