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Market Update For Week Ending 9/5/08 |
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| Market Update For Week Ending 9/5/2008 | Index | Close | Net Change | % Change | YTD | YTD % | | DJIA | 11,220.96 | -323.00 | -2.80 | -2,043.86 | -15.41 | | NASDAQ | 2,255.88 | -111.64 | -4.72 | -396.40 | -14.95 | | S&P500 | 1,242.31 | -40.51 | -3.16 | -226.05 | -15.39 | | Russell 2000 | 718.85 | -20.65 | -2.79 | -47.18 | -6.16 | | International | 1,677.89 | -143.17 | -7.86 | -575.47 | -25.54 | | 10-year bond | 3.66% | -0.15% | | -0.38% | | | 30-year T-bond | 4.28% | -0.14% | | -0.18% | | 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
Stocks slid this week as traders returned from a long holiday weekend to confront fresh signs that the economy has yet to surmount all of the factors weighing on growth. Major U.S. equity indices fell from 2.8% to nearly 5%; the losses were even worse overseas, where a strengthening dollar translated into a harrowing 7.86% retreat for the MSCI EAFE. Treasury yields plunged as money flooded back out of stocks and into the bond market. For more on recent trading activity, please read:
http://biz.yahoo.com/ap/080905/wall_street.html Unemployment Hits Five-Year High
U.S. businesses cut a net 84,000 jobs from their payrolls in August, pushing unemployment to a five-year high of 6.1% and the so-called "misery index" to its highest level since the 1991 recession. While the news painted a bearish picture of the economy, some analysts noted that at least interest rates are unlikely to climb as long as the labor market remains weak. For more on the job numbers and what they mean for Wall Street and Main Street alike, please read:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a974fas33tuI Have The Rate Cuts Worked?
It's been nearly a year since the Federal Reserve started slashing short-term interest rates in order to cushion the economy, but many still see recession in the air. Normally, lower rates translate into stronger growth. So why is the economy still so fragile? For a thoughtful look at what the Fed's been doing (and how much worse things might have been otherwise), please read:
http://money.cnn.com/2008/09/04/markets/thebuzz/index.htm |
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