Financial News and Portfolio Management Discussion through June 1st

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

Stocks posted their fourth straight week of declines driven by trade tensions.  The S&P 500 declined 2.6% and the Dow sank 3.0% for the week.  For the month both indices fell over 6.6%.  Abroad, Europe dropped 1.8% and Japan eased 2.4% for the week.  The yield on the 10-year Treasury ended the week and month at 2.14%.  It was the largest one-month yield decline since 2015 and the 10-year yield reached its lowest level since September 2017.  Yields on German bonds hit an all-time low.  Oil prices fell 16.3% in May to their lowest level in three months ending at $53.50 a barrel.

President Trump threatened 5% tariffs on all Mexican goods beginning June 10th and they would grow to 25% in October if the country doesn’t do more to stop the flow of immigrants into the US.

Home price growth rose 3.7% for the year ended in March, down from the prior month.

First quarter GDP growth was revised down slightly to 3.1% from 3.2%.

The personal consumption expenditures index, the Fed’s preferred gauge, rose 0.3% in April from March, its largest monthly gain since January. The move could provide support for the Fed’s thinking that the current soft patch for inflation will be short-lived.  However, the trailing year core index is up 1.6%, still well below the 2% target.

The Justice Dept. plans to begin an antitrust investigation into Google.

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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