Market Update For Week Ending 5/2/2008 | Index | Close | Net Change | % Change | YTD | YTD % |
|---|
| DJIA | 13,058.20 | +166.34 | 1.29 | -206.62 | -1.56 | | NASDAQ | 2,476.99 | +54.06 | 2.23 | -175.29 | -6.61 | | S&P500 | 1,413.90 | +16.06 | 1.15 | -54.46 | -3.71 | | Russell 2000 | 725.74 | +3.86 | 0.53 | -40.29 | -5.26 | | International | 2,158.05 | +22.28 | 1.04 | -95.30 | -4.23 | | 10-year bond | 3.85% | -0.02% | | -0.19% | | | 30-year T-bond | 4.56% | -0.03% | | +0.10% | |
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
Major U.S. equities gained ground this week, ending 0.5% to 2% higher as investors sifted through corporate developments and pondered the impact of the latest interest rate cut. The Nasdaq performed best, boosted by signs of continued strength for leading technology companies, but the small-cap Russell 2000 lagged. Foreign shares largely tracked the broad U.S. market, while bond prices pushed higher (and the associated yields went lower). For more on recent trading activity, please read:
http://www.msnbc.msn.com/id/3683270/ Fed Cuts Rates, But Signals A Pause
The Federal Reserve's monetary policy committee voted this week to lower its short-term lending target another quarter of a percentage point to 2%, the seventh rate cut since September. However, the Fed softened its official stance on the risk of a deeper economic slowdown ahead, instead noting that inflation remains a persistent concern. Economists widely interpreted the news as an indication that the Fed may prove reluctant to guide rates much lower. For more on the latest rate policy move and what it means for the economy and the markets, please read:
http://money.cnn.com/2008/04/30/news/economy/fed_decision/index.htm Job Market Slows Losses
Friday's labor report seemed to confirm the Fed's less gloomy take on the economy. However, while analysts were pleasantly surprised to see only 20,000 jobs lost in April, several warned that the numbers still demonstrate "profound weakness." Overall unemployment receded to 5%, while average weekly earnings fell as employers cut back on workers' hours. For more on the implications of the job report (and reactions to it), please read:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aabt.Q79iKsE |
