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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