Financial News and Portfolio Management Discussion through July 14th

All the news you need to stay informed about what’s currently driving the market — courtesy of Raffa Wealth Management, LLC.

US stocks rose over the week on strong earnings reports.  The S&P 500 gained 1.5% and the Dow rose 2.3% for the week. Internationally, Japan jumped 3.7% and Europe advanced 0.7% for the week. The yield on the 10-year Treasury finished the week unchanged at 2.83%.

The CPI rose 0.1% in June over May, while core prices rose 0.2%. Prices are up 2.9% from a year earlier, the fastest pace since 2012.

Fed Chairmen Powell said the central bank should continue to gradually raise the Fed Funds rate and it was too early to tell how protections trade policies would impact the economy.

Corporate earnings are expected to post double digit growth for the second quarter with exceptions of 20% growth over a year earlier. Revenue is also expected to do well with an estimated 8.7% growth rate.

Broadcom agreed to buy software giant CA Technologies for $18.9 billion.

Wells Fargo’s profit fell 11% driven in part by its past scandals scandals. JP Morgan and Citigroup both posted double digit profit increases, driven by greater borrowing.

There is no guarantee that any investment strategy, including those described here, will be successful. Any investment or investment strategy can lose money. Past performance does not guarantee or predict future results. You should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Raffa Wealth Management, LLC. This information was gathered from reliable sources but we cannot guarantee accuracy. Indexes do not reflect the fees associated with actual investments and such fees would reduce the performance illustrated.

 

 

 

This entry was posted in Investment Advisory. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s