Financial News and Portfolio Management Discussion through July 2nd
Global stocks rallied over the week after initially plunging on UK vote to leave the EU. The S&P 500 and Dow both jumped 3.2% for the week. Internationally, Europe rose 3.2%, while Japan surged 4.9% for the week. The yield on the 10 year Treasury hit a record low before ending the week at 1.45%.
US GDP was revised up to 1.1% for the first quarter from the previously reported 0.8%.
US auto sales rose at the slowest pace in over a year in June.
All US based banks and nearly all banks tested passed the latest round of stress tests conducted by the Fed.
VW agreed to pay $14.7 billion to settle its emissions cheating.
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