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Market Update For Week Ending 8/8/2008 |
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| Market Update For Week Ending 8/8/2008 | Index | Close | Net Change | % Change | YTD | YTD % | | DJIA | 11,734.32 | +408.00 | 3.60 | -1,530.50 | -11.54 | | NASDAQ | 2,414.10 | +103.14 | 4.46 | -238.18 | -8.98 | | S&P500 | 1,296.31 | +36.00 | 2.86 | -172.05 | -11.72 | | Russell 2000 | 734.30 | +18.16 | 2.54 | -31.73 | -4.14 | | International | 1,848.46 | -23.46 | -1.25 | -404.90 | -17.97 | | 10-year bond | 3.95% | +0.00% | | -0.09% | | | 30-year T-bond | 4.56% | -0.01% | | +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
U.S. stocks rallied this week as investors turned away from long-standing economic fears and uneven corporate earnings reports to applaud the Federal Reserve's decision to leave interest rates unchanged. Major domestic equity indices gained 2.53% to 4.46%, led by the technology-rich Nasdaq; foreign shares sank 1.25% in dollar terms as the greenback staged its own rally against other global currencies. Bond yields were flat. For more on recent trading activity, please read:
http://bloomberg.com/apps/news?pid=20601087&sid=a8lenhPsbRiI Fed Leaves Rates Unchanged
Investors rejoiced after the Federal Reserve voted by a larger-than-expected margin to leave short-term interest rates unchanged. Some economists had expected several of the top government bankers to argue that higher rates were needed to fight inflation; instead, the Fed's attention remained balanced between fighting inflationary risks and stimulating economic growth. For more on the decision and what it means, please read:
http://www.newsobserver.com/business/story/1166511.html Dollar Rebound Weighs On Oil
The Fed's decision to leave interest rates alone gave the battered U.S. dollar some support against other currencies, which in turn helped drive oil and other commodity prices lower. Crude closed the week just above $115 a barrel, its lowest level since May, while the greenback leapt to a five-month high against the euro. Some analysts even speculated that oil prices could sink much further in the foreseeable future. For more on the relationship between oil and currency trading, please read:
http://money.cnn.com/2008/08/08/markets/oil/index.htm |
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