Financial News and Portfolio Management Discussion through May 7th

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

US stocks sank over the week on weaker economic news and mixed earnings. The S&P 500 fell 0.4% while the Dow edged down 0.2% for the week. Internationally, Europe plunged 2.9% and Japan sank 3.3% for the week.   The yield on the 10 year Treasury edged down to finish the week at 1.78%. Oil sank 2.7% over the week.  Article

The pace of hiring eased in April with 160,000 new jobs added well short of expectations. The unemployment rate held at 5%, but labor force participation fell. Average earnings rose 2.5% from a year earlier one of the best increases of the current economic expansion.  Article

US manufacturing activity declined, but for a second straight month was in expansion territory.

China’s manufacturing industry edged down in April and was the 14th straight month it was in contraction territory.

US auto sales rose 3.6% in April over last year and posted a record high sales level for the month.

US worker productivity rose at only a 0.6% rate in the first quarter from a year earlier; its lowest level since the 1980s.

 

 

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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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