Thank you to everyone who participated and helped out to make our 2013 Klaas Financial Charity Golf Outing benefiting Patriot’s Gateway Community Center a huge success!  Go to our facebook page to check out pictures from the event HERE!

• Real GDP was revised to a 2.4% annual growth rate in Q1 from a prior estimate of 2.5%.

• The unemployment rate came in at 7.5% in May.

• “Real” consumption increased 0.1% in April and has increased 2.1% from last year.

• Consumer Confidence Sentiment came in at 84.5 which is the strongest since July 2007.

• In May, bonds lost 1.5% after Federal Reserve policy makers sent mixed signals about whether they would slow QE.

• Pending home sales for April reached three-year highs

• The ISM manufacturing index declined to 49.0 in May from 50.7 in April, coming in below the consensus expected 51.0. (Levels higher than 50 signal expansion; levels below 50 signal contraction.)

• The Case-Shiller home price index increased 11% in March, after a 9% gain in February, with all regions of the country reporting gains.

• The Euro Zone reported an unemployment rate of 12.2% for April, another new record high, led by Greece, Spain and Portugal.

• For the week ending 5/31/13, the S&P 500 fell -1.14% closing at 1630.74. The MSCI EAFE Index lost – 1.80% closing at 1702.25 and the MSCI EM Index dropped -1.73% to end the week at 1008.88.