Market Update For Week Ending 1/25/2008 | Index | Close | Net Change | % Change | YTD | YTD % |
|---|
| DJIA | 12,207.17 | +107.87 | 0.89 | -1,057.65 | -7.97 | | NASDAQ | 2,326.20 | -13.82 | -0.59 | -326.08 | -12.29 | | S&P500 | 1,330.61 | +5.42 | 0.41 | -137.75 | -9.38 | | Russell 2000 | 688.60 | +15.44 | 2.29 | -77.43 | -10.11 | | International | 2,038.27 | -12.59 | -0.61 | -215.09 | -9.55 | | 10-year bond | 3.58% | -0.06% | | -0.45% | | | 30-year T-bond | 4.28% | -0.02% | | -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
After a harrowing start to the week while U.S. markets were closed, an unexpected and deep interest rate cut managed to lend support to both investor spirits and equity prices. As a result, most major U.S. indices clawed their way to a mildly positive weekly finish; only the Nasdaq continued its recent losing streak, down another 0.59%. Foreign shares never fully recovered from Monday's losses, ending down 0.61%. Uncertainty surrounding stocks continued to drive money into bonds, pushing Treasury yields even lower. For more on recent trading activity, please read:
http://www.msnbc.msn.com/id/3683270/ Surprise Rate Cut Earns Mixed Reviews
The week's biggest news came Tuesday morning, when the Federal Reserve's monetary policy committee announced it would lower the benchmark U.S. interest rate 75 basis points (0.75%) to soothe nervous global markets. Although the unscheduled rate cut eventually helped to restore investors' appetite for equities, the gains were initially tentative. In fact, some prominent economists and money managers found the surprise rate cut ominous. For a summary of reactions to the Fed's surprise move, please read:
http://www.bloomberg.com/apps/news?pid=20601087&sid=awFn7moHTXv0 Stimulus Package Aims To Help Consumers While the rate cut's merits were being debated, Washington was busy ironing out the details of a proposed $100 billion tax rebate aimed at encouraging consumers to spend their way through any looming economic slowdown. An additional $50 billion was set aside for business tax relief as well. Lawmakers also promised that more stimulus will be available if needed to stave off recession. For more on the $150 billion economic rescue operation, please read:
http://www.cnbc.com/id/22820909 |
