Financial News and Portfolio Management Discussion through July 18th

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

Global stocks posted another week of gains on an agreement with Greece and its creditors and positive earnings news.  The S&P 500 gained 2.4% and the Dow rose 1.8% for the week.  The tech heavy Nasdaq driven by Google hit an all time high on Friday and rose 4.3% for the week.  Abroad, Japan surged 4.4% and Europe jumped 4.3% for the week.  The yield on the 10 year Treasury retreated ending the week at 2.35%.  Article

Greece’s parliament formally approved the severe austerity measures required to receive the new bailout package.  Article

US retail sales fell 0.3% from May in June and the previous two month’s estimates were revised down as well.  While choppy, the overall trend has shown improvement. Article

China’s growth remained at 7% in the second quarter.  It’s in line with the target for the year and above estimates of 6.8%. Article

In testimony before congress Fed Chairwomen Yellen said the Fed remained on track to raise interest rates this year.

The CPI rose 0.3% in June from May and is up 0.1% from a year earlier.  Core prices rose 0.2% in June and 1.8% from a year ago.

Home construction jumped 9.8% In June driven by multifamily buildings, outpacing projections.

Chinese state owned firm Tsinghua Unigroup offered to purchase Micron Technology for $23 billion.

JP Morgan, Intel, Netflix, Citigroup, Goldman Sachs, Google, GE and Honeywell all posted earnings reports that beat expectations.

 

About

Raffa Wealth Management is an independent investment advisor providing nonprofit organizations, high net-worth investors, and qualified retirement plans with a full range of investment consulting services.  We were established to fill the need for transparency, clarity, and vision in the professional management of investment assets.   Visit us at www.raffawealth.com

DiggLinkedInDeliciousRead It LaterStumbleUponEmailGoogle BookmarksGoogle BuzzFacebookShare
This entry was posted in Monthly Market Commentary, Nonprofit Investing. Bookmark the permalink. Both comments and trackbacks are currently closed.
  • Contact Us
    Raffa Wealth Management
    1899 L Street, NW
    Suite 900
    Washington, DC 20036
    Tel: 202-955-6734