Financial News and Portfolio Management Discussion through May 29th

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

Stocks gained over the week after Fed governors in comments reassured investors that they plan to be patient in removing support for the economy. The S&P 500 rose 1.2% and Dow gained 1.0% for the week. Abroad, the FTSE All World Ex US climbed 1.7% for the week. The yield on the 10-year Treasury ticked down from 1.63% to end May at 1.59%.

Home price growth reached its highest level in 15 years in March.

The core personal consumption expenditures index, used by the Fed to track inflation, rose a higher than expected 3.1% from a year earlier. Fed officials have reiterated their intention to maintain their easy money policies for some time.

Initial jobless claims reached a new post-pandemic low last week.

Consumer spending rose 0.5% in April.

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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