Financial News and Portfolio Management Discussion through May 25th

Stocks fell over the week as trade fears again weighed on stocks.  Th S&P 500 declined 1.2% and the Dow eased 0.7% for the week. Abroad, Europe and Japan % for the week.  The yield on the 10-year Treasury ended the week at 2.33% up slightly from its lowest level since 2017 that it had reached earlier in the week.  Oil fell 6.8% over the week to $58.63 a barrel on oversupply and global growth concerns.

Existing home sales fell 0.4% in April from March and 4.4% from a year earlier.  It was the 14th straight month of annual declines.  Home prices rose 3.6%.

Minutes from the Fed’s May meeting showed the central bank was comfortable with its wait and see approach.  They believed that the soft patch for inflation would be temporary.

New home sales fell 6.9% in April more than expected.

UK prime Minister May abruptly announced her resignation as she failed to reach an agreement to take the UK out of the EU.

Durable goods orders plunged 2.1% in April from March.


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