Weekly Market Highlights - September 28, 2012
Domestic stock prices ended the week lower for the second consecutive week. Stocks dropped in four out of the five trading days this week to post their worst weekly decline since June. The key driver of this week’s fall was disappointing economic data, including a downward revision in GDP growth and a plunge in durable goods orders.
Global markets were generally lower as well. Even though European share prices posted a solid 7.4% gain for the quarter, concerns over stress tests on Spanish banks and increased taxes on higher incomes in France weighed on markets this week. In addition, unrest is building over austerity measures enacted by eurozone members.
Treasury prices rose sharply this week, and yields plummeted. Yields on the benchmark 10-year Treasury plunged, as disappointing economic data and a general flight to quality weighed on the market. Inflation concerns eased after jumping last week.
Commodity indexes were mixed this week. Energy prices fell on the prospect of lower demand due to slowing economic growth. Gold and other precious metals posted modest advances.
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MARKET DASHBOARD |
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Index |
Price |
Weekly Chg. |
% Chg. |
YTD % Chg. |
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S&P 500 |
1,440.94 |
-19.12 |
-1.3% |
14.6% |
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Dow Industrials |
13,437.13 |
-142.34 |
-1.0% |
10.0% |
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Nasdaq Composite |
3,116.23 |
-63.74 |
-2.0% |
19.6% |
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Russell 2000 |
837.45 |
-18.06 |
-2.1% |
13.0% |
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Euro Stoxx Index |
268.48 |
-7.30 |
-2.6% |
9.8% |
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Shanghai Composite |
2,086.17 |
59.48 |
2.9% |
-5.1% |
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10-Year U.S. Treasury |
1.64 |
-12 bps |
NM |
-2 bps |
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DJ UBS Commodity Index |
148.51 |
0.85 |
0.6% |
5.6% |
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Gold |
$1,772.53 |
-$0.72 |
0.0% |
13.3% |
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Crude Oil |
$92.02 |
-$0.85 |
-0.9% |
-6.4% |
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U.S. Dollar Index |
79.93 |
0.61 |
0.8% |
-0.3% |
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VIX Index |
15.72 |
1.73 |
12.4% |
-32.9 |
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Source: Bloomberg |
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As of September 28, 2012 |
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