New Home Sales Rose in May; Prices Hit a Record High

Financial News and Portfolio Management Discussion through June 24th

US stocks edged up over the week aided by healthcare and pharmaceutical stocks. The S&P 500 rose 0.2% and the Dow ticked up less than 0.1% for the week. Abroad, Japan gained 1.0% and Europe declined 0.3% for the week. Oil fell 4.4% for the week to $43.01 a barrel entering bear market territory. The yield on the 10 year Treasury fell slightly to finish the week at 2.15%. 

The largest US banks passed the Fed’s stress tests providing more ammunition for calls of reduced regulations.

New home sales rose 2.9% in May and prices hit a record high.

Travis Kalanick, the embattled founder and CEO of Uber was forced to resign.

Oracle posted earnings that well outpaced expectations.

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.

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