| Market Update For Week Ending 8/29/2008 | Index | Close | Net Change | % Change | YTD | YTD % | | DJIA | 11,543.96 | -84.10 | -0.72 | -1,720.86 | -12.97 | | NASDAQ | 2,367.52 | -47.19 | -1.95 | -284.76 | -10.74 | | S&P500 | 1,282.82 | -9.37 | -0.73 | -185.54 | -12.64 | | Russell 2000 | 739.50 | +1.90 | 0.26 | -26.53 | -3.46 | | International | 1,821.06 | +32.95 | 1.84 | -432.30 | -19.18 | | 10-year bond | 3.81% | -0.05% | | -0.22% | | | 30-year T-bond | 4.41% | -0.05% | | -0.05% | | 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
Another week of lackluster economic news and corporate updates left U.S. stocks in retreat and many traders on the sidelines. Most major indices lost ground; only the small-cap Russell 2000 eked out a slight gain. Overseas, stocks enjoyed much more bullish results as the dollar went back on the defensive, ending up 1.84% in dollar-denominated terms. Treasury yields slipped. For more on recent trading activity, please read:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aiNcALTQKH3g Consumer Incomes Fall But Spending Rises
Investors with a gloomy take on the economy received fresh confirmation Friday from personal income data, which indicated that Americans made 0.7% less in July than they did in June. Nonetheless, thanks to stimulus rebate checks, many were still able to spend slightly more. How long can the consumer hold up? For a detailed look at this crucial segment of the U.S. economy, please read:
http://money.cnn.com/2008/08/29/news/economy/consumer_spending/index.htm GDP Growth Held Up In Spring
More optimistic investors received confirmation of their own hopes in the form of an unexpectedly strong revision to the second-quarter gross domestic product (GDP) numbers, the broadest indicator of the health of the U.S. economy. In all, GDP grew at a 3.3% annualized rate in the second quarter, more than economists had expected. Regardless, relatively few expressed confidence that future quarters would indicate similar strength. For more on the GDP numbers, please read:
http://www.denverpost.com/telecom/ci_10323126 |
