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Market Commentary and Updates For Week Ending 11/16/2007
| Index | Close | Net Change | % Change | YTD | YTD % |
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| DJIA | 13,176.79 | +134.05 | 1.03 | +713.64 | 5.73 | | NASDAQ | 2,637.24 | +9.30 | 0.35 | +221.95 | 9.19 | | S&P500 | 1,458.74 | +5.04 | 0.35 | +40.44 | 2.85 | | Russell 2000 | 769.50 | -2.88 | -0.37 | -18.16 | -2.31 | | International | 2,248.99 | -44.29 | -1.93 | +174.51 | 8.41 | | 10-year bond | 4.15% | -0.07% | | -0.56% | | | 30-year T-bond | 4.53% | -0.07% | | -0.29% | |
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
Wall Street's rollercoaster ride continued this week, but while economic fears and bad news from the lending sector continued, most major stock indices finished in positive territory. The blue-chip Dow industrials bounced back 1% and both the technology-heavy Nasdaq and broad S&P 500 edged up about 0.35%, but the small-cap Russell 2000 extended its slide. Foreign shares lost significant ground, correcting close to 2% in dollar terms as global traders took profits, while ongoing demand for Treasury debt pushed the associated yields still lower. For more on recent trading activity, please read:
http://money.cnn.com/2007/11/16/markets/markets_405/index.htm
Future Rate Cuts Unlikely?
William Poole, head of the St. Louis Federal Reserve Bank, joined his voice with those of other top government bankers this week to caution investors that additional interest rate cuts are anything but assured. Instead of following market expectations when it comes to making rate policy, Mr. Poole said, the Fed must rely on economic data to lead the way. Otherwise, he warned, "there can only be chaos." For more on Mr. Poole's commentary and what it may entail, please read:
http://www.cnbc.com/id/21834466
Subprime Could Spawn $2 Trillion Lending Gap
While the final economic toll of the subprime mortgage bubble has yet to be calculated, an influential Wall Street economist unnerved some investors this week by warning that the ensuing credit crunch could impair $2 trillion in loans. He noted that while the aggregate losses for financial firms in particular would roughly represent a single bad day in the stock market, the follow-on effect on consumers and ultimately the economy could be more substantial, possibly feeding recessionary forces elsewhere. For more on early attempts to add up the subprime impact, please read:
http://bloomberg.com/apps/news?pid=20601087&sid=aIjFhqV9OlmA |
