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Market Update For Week Ending 5/16/2008 |
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| Market Update For Week Ending 5/16/2008 | Index | Close | Net Change | % Change | YTD | YTD % | | DJIA | 12,986.80 | +240.92 | 1.89 | -278.02 | -2.10 | | NASDAQ | 2,528.85 | +83.33 | 3.41 | -123.43 | -4.65 | | S&P500 | 1,425.35 | +37.07 | 2.67 | -43.01 | -2.93 | | Russell 2000 | 741.17 | +21.12 | 2.93 | -24.86 | -3.25 | | International | 2,194.13 | +56.39 | 2.64 | -59.22 | -2.63 | | 10-year bond | 3.85% | +0.08% | | -0.19% | | | 30-year T-bond | 4.58% | +0.05% | | +0.12% | | 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
Investors defied high oil prices and long-term economic concerns to dip back into the market this week. As a result, major U.S. and foreign equity indices surged 1.8% to 3.4%, with the previously battered Nasdaq and small-cap Russell 2000 leading the way. As money returned to the stock market, bond prices deflated, pushing the associated Treasury yields higher. For more on recent trading activity, please read:
http://money.cnn.com/2008/05/16/markets/markets_newyork/index.htm Is The Credit Crunch Over?
While questions continue to surround the health of the broader economy, the credit markets may finally be stabilizing. Treasury Secretary Henry Paulson recently provided business leaders with a fairly rosy take on the "progress" the credit markets have made in recent months in the wake of the Federal Reserve's aggressive campaign to encourage lending activity. For more on Mr. Paulson's comments and the "bumps" he sees ahead, please read:
http://www.msnbc.msn.com/id/24669204/ Consumer Confidence Slides Further
According to one gauge, the sluggish economy and high energy prices have pushed public sentiment to its gloomiest level since late 1980, and relatively few economists are sanguine about the near term. The housing environment in particular was singled out as "horrific," while the consumer sentiment numbers were characterized as "terrible readings." For more on why the economy still appears to have pain left to work through, please read:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aLlZUqsbxyjc |
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