| Market Update For Week Ending 5/30/2008 | Index | Close | Net Change | % Change | YTD | YTD % | | DJIA | 12,638.32 | +158.69 | 1.27 | -626.50 | -4.72 | | NASDAQ | 2,522.66 | +77.99 | 3.19 | -129.62 | -4.89 | | S&P500 | 1,400.38 | +24.45 | 1.78 | -67.98 | -4.63 | | Russell 2000 | 748.28 | +24.18 | 3.34 | -17.75 | -2.32 | | International | 2,145.47 | -11.86 | -0.55 | -107.89 | -4.79 | | 10-year bond | 4.05% | +0.22% | | +0.01% | | | 30-year T-bond | 4.71% | +0.15% | | +0.25% | | 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
The bulls regained their footing on Wall Street this week as investors hunted for bargain-priced blue-chip shares, especially in the technology sector. As a result, the broad S&P 500 and Dow industrials gained 1.7% and 1.2%, respectively, but the technology-rich Nasdaq jumped 3%. Signs of reviving economic growth ahead were also good for the economically sensitive Russell 2000, pushing that index up more than 3% as well. Foreign shares retreated, as did Treasury bonds, leaving long-term bond yields substantially higher. For more on recent trading activity, please read:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aYWdshIRdU68 Economy Shows Unexpected Strength
One of the most bullish pieces of news in the week was an upward revision of U.S. gross domestic product (GDP), the broadest measure of economic activity, which showed significantly more robust growth in the first quarter. While few analysts characterized the 0.9% expansion as robust, the better-than-expected number nonetheless calmed investor fears that a recession is already underway. For more on the latest GDP numbers and why they matter, please read:
http://money.cnn.com/2008/05/29/news/economy/gdp_revision/index.htm Consumers Keep Up, But Not Much More
High gas prices, food inflation, and nerves about the job market are keeping many consumers from feeding their appetite for goods and services. However, while consumer spending grew just an anemic 0.2% in April, the retail economy has remained strong -- so far. What's driving consumer activity, and what factors could bring about a change in one direction or another? For more, please read:
http://www.msnbc.msn.com/id/24877284/ |
