Market Update For Week Ending 2/1/2008 | Index | Close | Net Change | % Change | YTD | YTD % | DJIA | 12,743.19 | +536.02 | 4.39 | -521.63 | -3.93 | NASDAQ | 2,413.36 | +87.16 | 3.75 | -238.92 | -9.01 | S&P500 | 1,395.42 | +64.81 | 4.87 | -72.94 | -4.97 | Russell 2000 | 730.50 | +41.90 | 6.08 | -35.53 | -4.64 | International | 2,075.70 | +37.43 | 1.84 | -177.66 | -7.88 | 10-year bond | 3.60% | +0.02% | | -0.44% | | 30-year T-bond | 4.32% | +0.04% | | -0.14% | |
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.
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Market Wrap
After yet another volatile week, major U.S. equity indices ended substantially higher as investors digested the impact of another interest rate cut and went back on the hunt for bargain-priced stocks. The small-cap Russell 2000, previously battered by recession fears, bounced the highest, up over 6%. Foreign shares ended the week up a relatively mild 1.8% in dollar terms, held back by losses in China. Bond prices retreated as traders took profits from the recent Treasury rally, pushing the associated yields back upward. For more on recent trading activity, please read:
http://bloomberg.com/apps/news?pid=20601087&sid=aDpSAtQik0HY Payrolls Tighten As Economy Cools
Fears of a severe economic slowdown coalesced this week amid new data showing that the once-hot job market chilled significantly in January. U.S. employers cut 17,000 more jobs than they created last month, indicating that payrolls shrank for the first time since 2003. Since a strong job market has been crucial for supporting the spirits of consumers reeling from the housing slump, economists wondered whether the numbers may presage a recession. For more on the economy, please read:
http://biz.yahoo.com/ap/080201/economy.html Behind The Latest Rate Cut With the Federal Reserve taking an unusually aggressive approach to cutting interest rates, investors who had once clamored for lower rates are now wondering about the long-term impact on the economy. For example, is the Fed betting that slowing economic activity will keep inflation under control? And will more expansive credit conditions truly encourage nervous bankers to become more willing to lend again? For an in-depth look at some factors behind recent Fed policy, please read:
http://www.newsweek.com/id/106630 |
