Financial News and Portfolio Management Discussion through July 22nd
US stocks reached new record highs during the week on strong corporate earnings. The S&P 500 rose 0.5%, but the Dow eased 0.3% for the week. Internationally, Europe sank 1.7% and Japan ticked down 0.1% for the week. The yield on the 10 year Treasury fell to 2.23% posting its largest two week decline since March.
Japan’s central bank pushed back its estimate on when it will reach 2% inflation and kept its current policy on hold.
The ECB delayed discussion on whether it should wind down its bod buying program over weakening global inflation.
Firms posting strong earnings include Netflix, United, Johnson and Johnson, UnitedHealth, American Express and Microsoft. All six of the biggest US banks topped 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.