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Market Update For Week Ending 5/23/2008 |
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| Market Update For Week Ending 5/23/2008 | Index | Close | Net Change | % Change | YTD | YTD % | | DJIA | 12,479.63 | -507.17 | -3.91 | -785.19 | -5.92 | | NASDAQ | 2,444.67 | -84.18 | -3.33 | -207.61 | -7.83 | | S&P500 | 1,375.93 | -49.42 | -3.47 | -92.43 | -6.29 | | Russell 2000 | 724.10 | -17.07 | -2.30 | -41.93 | -5.47 | | International | 2,157.33 | -36.80 | -1.68 | -96.03 | -4.26 | | 10-year bond | 3.83% | -0.02% | | -0.20% | | | 30-year T-bond | 4.56% | -0.02% | | +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
A grueling week for Wall Street left most major U.S. stock indices down 2% to 4% and foreign shares in only slightly better shape. The previously neglected Russell 2000 held up best, down a mere 2.3%, but blue-chip stocks tumbled nearly 4%. Once again, stock market losses translated into bond market gains, pushing long-term Treasury yields lower as prices climbed. For more on recent trading, please read:
http://www.msnbc.msn.com/id/3683270/ Stagflation Fears May Force Fed's Hand
Investors spent much of the week pondering news that the Federal Reserve's top government bankers would be "inclined to resist" guiding interest rates much lower as long as prices are still rising. Although the Fed still sees the risk of economic contraction ahead, inflationary pressures may have reached the point where no further interest rate cuts are possible. For more on why some see the pernicious combination of economic stagnation and inflation (or "stagflation") emerging, please read:
http://www.bloomberg.com/apps/news?pid=20601086&sid=aJvGB_RrBEjE Is $130 Oil Here To Stay?
As the cost of a barrel of crude oil leaped well beyond $130 this week, market analysts bickered about whether surging energy prices were a speculative bubble or a product of fundamental supply and demand. On the "bubble" side, market watchers said supply of oil is still keeping up with demand. On the "fundamental" side, supply seems to have hit a plateau. Who's right? For a detailed discussion of where prices might go from here, please read:
http://money.cnn.com/2008/05/23/news/economy/oil_bubble/index.htm |
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