Financial News and Portfolio Management Discussion through May 28th

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

Global markets charged higher over the week on stronger economic news and a better comfort level with the Fed’s potential interest rate moves. For the week, the S&P 500 jumped 2.2% and the Dow rose 2.1%. Internationally, Europe surged 3.4% and Japan gained 0.6% for the week. The yield on the 10 year Treasury was flat for the week staying at 1.85%. Oil continued to rebound hitting $50 a barrel during the week and closing at $49.33.  Article

In a speech Fed chairwomen Yellen said that the Fed will look to raise interest rates in the next few months assuming US economic reports remain steady.

New home sales in April posted their best month in over 8 years and prices reached a record level.

Pending home sales rose to the highest level in over 10 years gaining 5.1% in April.

Business investment fell 0.8% in April.

US first quarter GDP was revised higher to 0.8% from the initially projected 0.5%, but below what economist had expected.

 

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Raffa Wealth Management is an independent investment advisor providing nonprofit organizations, high net-worth investors, and qualified retirement plans with a full range of investment consulting services.  We were established to fill the need for transparency, clarity, and vision in the professional management of investment assets.   Visit us at www.raffawealth.com

 

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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