Financial News for the Week Ending June 28th

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

US stocks fell for the week on weaker economic news.  The S&P 500 dropped 0.1% while the Dow sank 0.6%.  Internationally markets were down as well as, Europe sank 1.8%, while Japan was down 1.7%.  The 10 Year Treasury ended the week at 2.53% down from the previous week as bond prices rose.  Article

The final revision to first quarter GDP showed an even bleaker picture than previously thought.  The economy contracted 2.9% in the first quarter, the worst degree of contraction since the recession.  Article

Personal spending rose 0.2% in May and fell when factoring in inflation.  The reading does little for optimism about economic growth.  Article

The flash factory activity survey in China showed improvement hitting a seven month.

US existing home sales rose 4.9% in May to reach its fastest pace since October.  However, they are still down 5% from the year earlier level.  Article

Japan’s Prime Minister Abe revealed a package of measures designed to spur growth in the country.

New home sales jumped 18.6% in May, but the number likely represents a catch up from weaker sales early in 2014.

The Fed’s preferred inflation gauge, the price index for personal consumption expenditures, rose 1.8% in May from a year earlier, the highest level since October 2012.

Oracle agreed to buy Micros systems, a maker of software for retailers and hospitality providers for $5 billion.

 

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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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