Financial News for the Week Ending June 14th

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

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

US stocks sank over the week on rising tensions in Iraq.  The S&P 500 dropped 0.7% and the Dow sank 0.9%.  Abroad, stocks were flat as Japanese stocks were up 0.1% and European stocks were down 0.1%.  Oil rose 4.1% to $106.91 a barrel on the mid east tensions.  Bonds were flat for the week.  Article

Japan revised its first quarter GDP rate from 5.9% to 6.7%.  Article

The World Bank dropped its forecast for global growth to 2.8% for the year.

The US had 4.5 million job openings in April, the highest in seven years.

May retail sales disappointed rising just 0.3%.  However, April sales were revised up to 0.5% from 0.1%.  Article

Tyson Food is buying Hillshire, maker of Aunt Jemima and Hungry man among others, for approximately $7.7 billion.  Article

Priceline agreed to buy OpenTable for $2.6 billion to add to its hospitality offerings.

 

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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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