| Market Update For Week Ending 4/4/2008 | Index | Close | Net Change | % Change | YTD | YTD % | | DJIA | 12,608.77 | +392.37 | 3.21 | -656.05 | -4.95 | | NASDAQ | 2,370.98 | +109.80 | 4.86 | -281.30 | -10.61 | | S&P500 | 1,370.40 | +55.18 | 4.20 | -97.96 | -6.67 | | Russell 2000 | 713.73 | +30.55 | 4.47 | -52.30 | -6.83 | | International | 2,119.67 | +74.23 | 3.63 | -133.69 | -5.93 | | 10-year bond | 3.48% | +0.01% | | -0.55% | | | 30-year T-bond | 4.32% | -0.02% | | -0.14% | | International index is MSCI EAFE index. Bond data reflect net change in yield, not price. Indices are unmanaged and you cannot directly invest in an index.
More market data Market Wrap
U.S. stocks started the second quarter on a bullish note as investors shook off economic dread and put their money back to work. The previously battered Nasdaq and small-cap Russell 2000 were the biggest beneficiaries of the week's bargain-hunting, gaining 4.8% and 4.4%, respectively, but the broad market also ended up more than 4%. Bond yields were mixed, reflecting ambivalence about the future of interest rates, but foreign stocks (as represented by the MSCI EAFE index) were unambiguously higher as the world's stock markets cheered Wall Street's rally. For more on recent trading activity, please read:
http://www.msnbc.msn.com/id/3683270/ Jobs Underscore Economic Fears
Investor suspicions that the economy is contracting were confirmed by a report showing that the unemployment rate climbed to 5.1% in March. Some economists greeted the news as proof that a recession is already underway, in turn feeding hopes that the Federal Reserve will remain aggressive when it comes to cutting interest rates to stimulate new activity. In all, U.S. employers eliminated 80,000 more positions than they created. For more on the job report and what it means for the markets and the nation, please read:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aGkwOoEovaVI Bernanke Acknowledges Recession Risk
Federal Reserve Chairman Ben Bernanke gave Congress and the world a relatively blunt take on the health of the economy this week, admitting that while a recession is "possible," he has yet to be convinced that one is at hand. Nonetheless, he expects the economy to grow at a minimal rate (if at all) for the rest of 2008. The comments initially soured the markets, but some investors appreciated the candor from the top U.S. government banker. For more on Mr. Bernanke's latest reading on the economy, please read:
http://money.cnn.com/2008/04/02/news/economy/bernanke_testimony/index.htm |
