| Market Update For Week Ending 6/27/2008 | Index | Close | Net Change | % Change | YTD | YTD % | | DJIA | 11,346.51 | -496.18 | -4.19 | -1,918.31 | -14.46 | | NASDAQ | 2,315.63 | -90.46 | -3.76 | -336.65 | -12.69 | | S&P500 | 1,278.38 | -39.55 | -3.00 | -189.98 | -12.94 | | Russell 2000 | 698.14 | -27.09 | -3.74 | -67.89 | -8.86 | | International | 1,957.23 | -34.71 | -1.74 | -296.13 | -13.14 | | 10-year bond | 3.99% | -0.15% | | -0.04% | | | 30-year T-bond | 4.54% | -0.17% | | +0.08% | | 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
Caught once more between inflationary concerns and economic doubts, investors fled global stock markets this week after the Federal Reserve refused to guide interest rates lower in order to stimulate growth. The Dow industrials sank 4.1%, pushing the blue-chip index back into technical bear market territory when measured from the peak touched last October, while other U.S. indices fell between 3% and 4%. Global stocks held up somewhat better, but still ended the week down 1.7% in dollar terms. Volatile equity markets pushed nervous investors back into the bond market, where Treasury prices rebounded and the associated yields receded. For more on recent trading activity, please read:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aPitHl9Bm_1o Fed Turns From Rate-Cut Campaign
The Federal Reserve's top government bankers surprised few this week by leaving short-term interest rates unchanged, but investors were still both disappointed and perplexed by the idea that rates seem to have truly hit a bottom, at least for now. While some economists applauded the Fed's indication that the economy has now been adequately stimulated to avoid a deep recession, others were not so sanguine. Still others pondered the prospect that the Fed may in fact be situating itself to raise interest rates to control inflationary forces unleashed by a weak dollar and spiking commodity prices. What does this reveal about the health of the markets and the economy? For a balanced look at several perspectives, please read:
http://money.cnn.com/2008/06/25/news/economy/fed_decision/index.htm U.S. Consumers Surrender To Gloom
Inflating food and fuel prices combined with the ongoing housing slump and job market fears to drive consumer sentiment to the lowest level since the "economic malaise" era of 1980. As a result, even though tax rebate checks have helped support retail activity in recent weeks, few economists expect this to continue indefinitely without further stimulus. For more detail on the latest reading of the all-important U.S. consumer's emotional (and financial) pulse, please read:
http://www.msnbc.msn.com/id/25411691/ |
