Financial News and Portfolio Management Discussion through May 19th
US stocks fell over the week on concerns about global trade policies. The S&P 500 and Dow dropped 0.5% for the week. Internationally, Japan gained 0.8% and Europe rose 0.6% for the week. The yield on the 10 year Treasury rose 0.10% to end the week at 3.07%, near its highest level since 2011. Oil continued to gain, finishing the week at $71.28 a barrel and is now up 18% this year.
Retail sales rose 0.3% in April and March’s reading was revised up.
Growth in the Eurozone slowed over the first quarter to 0.4% from 0.7% in the fourth quarter.
US firms have ramped up capital spending with a 24% increase in the first quarter over the prior year.
Japan’s economy shrank 0.6% in the first quarter for the first time in two years. The contraction was greater than expected.
The average US 30 year mortgage rate hit a 7 year high of 4.61%
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.