Financial News and Portfolio Management Discussion through May 30th

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 mixed economic data and fresh concerns about Greece.  The S&P 500 sank 0.9% and the Dow fell 1.2% for the week.  However, for the month, both indices rose 1.0%.  Internationally, Japan rose 1.5%, but Europe fell 1.9% for the week.  In May, Japan surged 5.3% and Europe was up 1.0%.  The 10 year Treasury yield fell to 2.10% on US economic concerns.  Article

The second revision to 1st quarter GDP showed the country contracted at a 0.7% rate.  Tough winter weather, a strong dollar and a labor dispute at west coast ports were the main drivers. However, the revision was not as bad as feared.  Article

The leader of the IMF, Christine Lagarde, stated that Greece leaving the euro is a possibility.

New home sales rose 6.8% in April and prices rose 8.3% from a year earlier showing rising demand in a tight market.

Durable goods orders fell 0.5% in April from March and are down 1.3% from a year earlier.  However the declines were driven mostly by the volatile transportation sector.  Excluding that sector orders rose and March was revised up.

Orders for nondefense capital goods, a proxy for business investment rose 1% in April.

Charter Communications agreed to purchase Time Warner for $55 billion, which would make the company one of the largest US broadband and pay television companies.  Article

 

 

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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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