Financial News and Portfolio Management Discussion through May 9th

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

US Stocks ended up after a volatile week on positive hiring news that while showing an improving economy it was not thought strong enough to push the Fed to act sooner.  The S&P 500 rose 0.4% and the Dow gained 0.9% for the week.  Internationally, Japan sank 0.8%, but Europe rose 1.4% for the week.  The 10 year Treasury yield edged up over the week to finish at 2.15%.  Article

The April jobs report rebounded with employers hiring 223,000 up from 85,000 in March, which was revised down.  The unemployment rate also edged down to 5.4%, its lowest level since mid 2008.  This occurred even as more people were looking for work.  Article

The non manufacturing purchasing managers index came in above expectations in April.

Fed Chief Yellen made statements that the past years stock rally may have driven prices too high and stated that many bond investors are taking excessive risk.

With 447 companies in the S&P 500 reporting, expectations are for a 0.1% rise in earnings for the first quarter outpacing the 4.6% decline expected by analysts.




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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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