Financial News and Portfolio Management Discussion through May 2nd

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

US Stocks ended the week down driven by mixed economic news.  For the week the S&P 500 fell 0.5% and the Dow was down 0.3%.  Internationally, stock markets fell harder with Japan down 2.4% and Europe falling 3.4% for the week.  The 10 year Treasury yield rose over the week to finish at 2.12%, its highest level since mid March.  Oil has bounced back as well rising 25% in April and finished the week at $59.15 a barrel.  Article

In the first estimate of first quarter GDP the US barely grew, posting a 0.2% rate.  Well below expectations of 1.0% growth. Article

In the Fed’s policy statement released after its most recent meeting it pointed to a cooling economy as to a reason making it highly unlikely for rates to be increased midyear.  Current estimates are mixed between the fall and December. Article

Eurozone consumer prices were steady in April after 4 straight months of declines.

US manufacturing held steady from its reading in March after falling for five straight months.  However, a negative from the report showed falling employment.

The auto industry continues to see consumers opting for pickups and SUVs with the average price paid almost $1,000 higher than a year ago.  Sales have been aided by lower gas prices and friendly lending terms.

Japan posted its first increase in inflation in more than a year showing easing policies have helped.

Deutsche Bank, Apple, Ford, Pfizer, Merck, BP, Bristol-Myers, Total, Airbus, Shell Exxon and Berkshire Hathaway all posted positive first quarter profit reports, while Twitter, Honda, Samsung, LinkedIn and Conoco disappointed.

 

 

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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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