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Market Update For Week Ending 2/22/2008 |
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Market Update For Week Ending 2/22/2008 | Index | Close | Net Change | % Change | YTD | YTD % |
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| DJIA | 12,381.02 | +32.81 | 0.27 | -883.80 | -6.66 | | NASDAQ | 2,303.35 | -18.45 | -0.79 | -348.93 | -13.16 | | S&P500 | 1,353.11 | +3.12 | 0.23 | -115.25 | -7.85 | | Russell 2000 | 695.43 | -6.09 | -0.87 | -70.60 | -9.22 | | International | 2,023.98 | +19.42 | 0.97 | -229.38 | -10.18 | | 10-year bond | 3.79% | +0.01% | | -0.25% | | | 30-year T-bond | 4.58% | -0.01% | | +0.12% | |
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
Not even a late Friday rally could save U.S. stocks from turning in a mixed finish for the week. On the one hand, some investors hunted for what they considered bargain-priced stocks. On the other, inflation concerns returned to the market, joining persistent worries about the economy's ability to keep expanding in the near future. The blue-chip Dow and S&P 500 ended in the black; the more growth-oriented Nasdaq and Russell 2000 lost ground. The weak dollar continued to magnify foreign shares' performance for U.S.-based investors, while the shifting U.S. economic outlook left bond yields flat. For more on recent trading activity, please read:
http://biz.yahoo.com/ap/080222/wall_street.html Inflation Fears Gather Momentum
Speculation that declining interest rates could feed inflation boiled over this week. Oil decisively crossed the $100 frontier and even "core" consumer prices (minus food and energy) in January rose at their fastest rate in 19 months, edging slightly out of the Federal Reserve's stated comfort zone. While some may want to see interest rates drop even further to stimulate the economy, others now worry that the combination of a slowdown and rising prices may sharply limit the Fed's options. For more on the inflation question, please read:
http://money.cnn.com/2008/02/21/news/economy/inflation/index.htm Fed Official Hawkish On Prices Many of the nation's top government bankers have been giving their take on the economy and its prospects. Friday brought commentary from Dallas Fed President Richard Fisher, who says he expects the economy to avoid a prolonged recession. Instead, he warns, he's hearing from executives that cost pressures are rising. For a detailed view of Mr. Fisher's insights into future economic growth rates and why he's already looking ahead to an era when interest rates may need to rise again, please read:
http://www.bloomberg.com/apps/news?pid=20601087&sid=abtTLM4bMqGg |
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Westside Investment Management Advisors are Registered Representative with and offer securities and advisory services through Linsco/Private Ledger (LPL), Member FINRA/SIPC |
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