Weekly Market Highlights - Aug. 24, 2012
Domestic stock prices gave up ground on the week. The S&P 500 suffered its first weekly decline in two months, as renewed concerns about the eurozone flared up, and markets speculated that additional Fed easing may not be likely, at least in the near future. Global markets were also lower for the week. Markets around the world declined, as reports surfaced that the European Central Bank would refrain from supportive measures of eurozone countries until German courts weigh in on the constitutionality of the ECB’s bailout plans.
Treasury prices rallied this week, and yields cratered. Yields on the benchmark 10‐year Treasury declined today for the sixth day in a row, its longest such streak since May 2011. The strength in Treasuries was due to concern that the ECB may not announce its bond‐buying plans for many weeks.
Commodity indexes posted strong gains this week. Precious metals provided the backbone to the rally in commodities, gaining ground as traders increased positions in the belief that central banks would take additional steps to boost economic growth. Agricultural commodities were also higher on the week, and crude oil prices were mixed.
| MARKET DASHBOARD | ||||
| Index |
Price |
Weekly Chg. |
% Chg. |
YTD % Chg. |
| S&P 500 |
1,411.13 |
-16.08 |
-1.1% |
11.5% |
| Dow Industrials |
13,157.97 |
-217.74 |
-1.6% |
6.9% |
| Nasdaq Composite |
3,069.79 |
-23.19 |
-0.8% |
17.2% |
| Russell 2000 |
809.19 |
-13.86 |
-1.7% |
8.8% |
| Euro Stoxx Index |
268.00 |
-6.09 |
-2.2% |
9.1% |
| Shanghai Composite |
2,092.10 |
-22.79 |
-1.1% |
‐4.9% |
| 10-Year U.S. Treasury |
1.68 |
-17 bps |
NM |
‐2 bps |
| DJ UBS Commodity Index |
145.36 |
3.24 |
2.3% |
4.0% |
| Gold |
$1,670.50 |
$51.54 |
3.2% |
6.6% |
| Crude Oil |
$96.10 |
$0.30 |
0.3% |
‐2.0% |
| U.S. Dollar Index |
81.61 |
-0.98 |
-1.2% |
1.8% |
| VIX Index |
15.18 |
2.51 |
18.7% |
‐31.8% |
| Source: Bloomberg | ||||