Financial News and Portfolio Management Discussion through July 2nd

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

Global stocks rallied over the week after initially plunging on UK vote to leave the EU. The S&P 500 and Dow both jumped 3.2% for the week.  Internationally, Europe rose 3.2%, while Japan surged 4.9% for the week.  The yield on the 10 year Treasury hit a record low before ending the week at 1.45%. Article

US GDP was revised up to 1.1% for the first quarter from the previously reported 0.8%.

US auto sales rose at the slowest pace in over a year in June.

All US based banks and nearly all banks tested passed the latest round of stress tests conducted by the Fed.

VW agreed to pay $14.7 billion to settle its emissions cheating.



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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 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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