Financial News and Portfolio Management Discussion through June 10th

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

US Stocks were mixed over several market moving events and a sharp drop in tech company shares to end the week. The S&P 500 eased 0.3% and the Dow rose 0.3% for the week. Internationally, Europe was off 0.6% and Japan fell 1.3% for the week. The yield on the 10 Year Treasury edged up to 2.20%. Oil prices have continued to slide ending the week at $45.83 a barrel down 3.8% for the week.  Article

The World Bank estimates that global growth will reach a seven year high of 2.9% next year.

The UK election surprised pundits again with the ruling Conservative Party losing its majority. The election was called to strengthen the Theresa May and her parties hand, but instead weakened it heading into negotiations to exit the EU.

US worked productivity was revised upwards to be flat in the first quarter. Compared to a year ago it gained 1.2%.

After an ECB meeting President Draghi revealed a more upbeat outlook and stated they probably would not need to cut rates again, but did not reduce any of the simulative actions its taking.

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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