US Consumer Prices had Largest Monthly Jump in Over 2 Years

Financial News and Portfolio Management Discussion through June 20th

US Stocks rose over the week on the news the Fed won’t raise rates sharply and the pace of rate increases would be slower than previously expected.  The S&P 500 and Dow rose 0.7 % for the week.  Internationally, Europe sank 1.0% on Greece news and Japan was down 1.1% for the week.  The 10 year Treasury yield ended the week at 2.27% down 0.12 percentage points over concerns about the Greece negotiations.

Greece and its creditors were still well divided on a new bailout deal with a June 30th deadline fast approaching.

The Fed indicated that they would likely raise interest rates later in the year, but they would move more cautiously with future rate increases than previously expected.  Based on the , well below historical norms.

New-Home-Construction-on-the-Rise-Boosting-Builder-Confidence
Photo courtesy of improveit360.com

US home builders filing for building permits shot up 12% in May to the highest rate in almost 8 years.

US consumer prices had their largest monthly jump in over two years rising 0.4% in May.  Excluding more volatile food and energy prices, the core CPI rose 0.1% to 1.7% for the past year.

Ryland and Standard Pacific agreed to a $5.2 billion merger to create the 4th largest home builder in the US.

Oracle posted a larger than expected sales decline in their latest quarter end and missed profit forecasts.

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

This entry was posted in Investment Advisory and tagged , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s