Financial News and Portfolio Management Discussion through June 13th
Global stocks were relatively flat on concerns over whether Greece will be able to reach an agreement with its creditors to extend its bailout. The S&P 500 edged up 0.1% and the Dow rose 0.3% for the week. Internationally Europe ticked up 0.1% and Japan was off 0.3%. The 10 Year Treasury yield ended the week flat at 2.39%.
Greece had little progress with its creditors working out an extension to its bailout and senior officials from all 19 eurozone countries have discussed the possibility of a Greek default and exit from the Eurozone.
US job openings rose to 5.4 million in April, a record. It could add further pressure on wage growth.
Retail sales rose 1.2% in May in line with expectations, but a strong pick up from previous months.
The producer price index rose 0.5% in May in line with expectations, but showing inflation is ticking higher.
HSBC announced it will cut up to 50,000 jobs and increase its focus on the Asian market.
Reposted from the Raffa Wealth Management Blog.
All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC