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.
Photo courtesy of usnews.com
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