| Market Update For Week Ending 6/6/2008 | Index | Close | Net Change | % Change | YTD | YTD % | | DJIA | 12,209.81 | -428.51 | -3.39 | -1,055.01 | -7.95 | | NASDAQ | 2,474.56 | -48.10 | -1.91 | -177.72 | -6.70 | | S&P500 | 1,360.68 | -39.70 | -2.83 | -107.68 | -7.33 | | Russell 2000 | 740.37 | -7.91 | -1.06 | -25.66 | -3.35 | | International | 2,115.92 | -29.55 | -1.38 | -137.44 | -6.10 | | 10-year bond | 3.94% | -0.11% | | -0.10% | | | 30-year T-bond | 4.65% | -0.06% | | +0.19% | | 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
Global stock markets found it impossible to achieve positive momentum in the face of high oil prices, bad news from the economy, and the ongoing credit crisis. Led by a harrowing loss for the blue-chip Dow industrials, all major U.S. equity indices ended the week significantly lower, as did foreign stocks represented by the MSCI EAFE index. Bond yields plunged as investors fled back to the relative safety of Treasury-backed securities, pushing the associated prices higher. For more on recent trading activity, please read:
http://money.cnn.com/2008/06/06/markets/markets_newyork/index.htm Job Market Shudders
Friday's employment report from the Labor Department fed investors' worst fears about the economy's ability to weather ongoing strains. According to the closely watched numbers, the unemployment rate shot up to 5.5% in May as U.S. businesses cut another 49,000 workers from their payrolls. Although the job cuts were expected, few had predicted the spike in the unemployment rate, leading at least one economist to call the report "ugly." For more on developments in the labor market and what they mean for Wall Street and Main Street alike, please read:
http://bloomberg.com/apps/news?pid=20601087&sid=ayEobmxjyiaM Oil Keeps Breaking Records
Even as signs multiplied that the economy is continuing to struggle, the price of a barrel of crude oil soared to $139, feeding fears that energy may continue to drive inflationary pressures. Geopolitical concerns and some supply disruptions were factors in the oil rally, but many analysts simply attributed the activity to the dollar's eroding value. As the summer driving season begins, the prospect of gasoline above $4 a gallon created further economic headaches for those concerned about the health of the U.S. consumer. For more, please read:
http://abcnews.go.com/Business/Economy/wireStory?id=5010997 |
