Financial News for the Week Ending June 14th

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

US stocks sank over the week on rising tensions in Iraq.  The S&P 500 dropped 0.7% and the Dow sank 0.9%.  Abroad, stocks were flat as Japanese stocks were up 0.1% and European stocks were down 0.1%.  Oil rose 4.1% to $106.91 a barrel on the mid east tensions.  Bonds were flat for the week.  Article

Japan revised its first quarter GDP rate from 5.9% to 6.7%.  Article

The World Bank dropped its forecast for global growth to 2.8% for the year.

The US had 4.5 million job openings in April, the highest in seven years.

May retail sales disappointed rising just 0.3%.  However, April sales were revised up to 0.5% from 0.1%.  Article

Tyson Food is buying Hillshire, maker of Aunt Jemima and Hungry man among others, for approximately $7.7 billion.  Article

Priceline agreed to buy OpenTable for $2.6 billion to add to its hospitality offerings.

 

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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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