Financial News and Portfolio Management Discussion through May 8th

US stocks ended the week at new all time as the weak jobs report pushed back investors’ expectations for any changes in policy by the Fed. The S&P 500 gained 1.3% and the Dow surged 2.7% for the week. Abroad, the FTSE All World Ex US climbed 1.9% for the week. The yield on the 10-year Treasury yield fell over the week to finish at 1.58% down from 1.65%.

US Job growth dropped sharply in April with 266,000 jobs added. Well below the 1 million jobs expected. In addition, March’s hiring level was revised down. The unemployment rate rose to 6.1% in April from 6.0% in March.

The ISM purchasing managers index for April showed growth, but fell short of expectations.

With 85% of companies in the S&P 500 reporting earnings to date they collectively have seen a 50% increase in profits compared to the first quarter a year ago.

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 herein 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. Source: FMG Suite, LLC.
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