Financial News and Portfolio Management Discussion through July 2nd

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

Global stocks rallied over the week after initially plunging on UK vote to leave the EU. The S&P 500 and Dow both jumped 3.2% for the week.  Internationally, Europe rose 3.2%, while Japan surged 4.9% for the week.  The yield on the 10 year Treasury hit a record low before ending the week at 1.45%. Article

US GDP was revised up to 1.1% for the first quarter from the previously reported 0.8%.

US auto sales rose at the slowest pace in over a year in June.

All US based banks and nearly all banks tested passed the latest round of stress tests conducted by the Fed.

VW agreed to pay $14.7 billion to settle its emissions cheating.

 

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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

 

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