Weekly Market Update - March 8, 2013
It was a record‐setting week for domestic stock prices. Stock prices ended the week higher as the Dow Industrials advanced to a record high. Driving gains this week were data showing an improving job market. The Dow has risen almost 130% from its cyclical low in 2009. The S&P 500 remains slightly below its record high. Global markets also advanced sharply for the week. World markets followed the lead of domestic markets, moving higher on both the employment data in the U.S. as well as encouraging comments about the eurozone recovery from European Central Bank President Draghi.
Treasury prices declined sharply this week. Yields on the benchmark 10‐year Treasury jumped this week as a result of the improving employment picture in the U.S. and the rally in the stock market. It was the steepest weekly rise in Treasury yields since early in the year.
Commodity indexes were mixed this week. Crude oil posted slight gains in the face of increasing inventories and tumbling demand. Gold was little changed on the week after posting its fifth straight monthly decline in February.
| MARKET DASHBOARD | ||||
| Index |
Price |
Weekly Chg. |
% Chg. |
YTD % Chg. |
| S&P 500 |
1,551.57 |
26.06 |
1.7% |
8.3% |
| Dow Industrials |
14,397.07 |
239.83 |
1.7% |
9.4% |
| Nasdaq Composite |
3,244.37 |
62.34 |
2.0% |
7.0% |
| Russell 2000 |
942.50 |
19.84 |
2.2% |
10.0% |
| Euro Stoxx Index |
295.55 |
6.41 |
2.2% |
5.6% |
| Shanghai Composite |
2,318.61 |
-40.90 |
-1.7% |
2.2% |
| 10-Year U.S. Treasury |
2.06 |
22 bps |
NM |
3 bps |
| DJ UBS Commodity Index |
137.25 |
0.70 |
0.5% |
-1.9% |
| Gold |
$1,577.91 |
-$10.83 |
-0.7% |
-6.6% |
| Crude Oil |
$91.81 |
$0.24 |
0.3% |
-2.0% |
| U.S. Dollar Index |
82.76 |
0.43 |
0.5% |
3.7% |
| VIX Index |
12.57 |
-2.30 |
-15.0% |
-27.5% |
| Source: Bloomberg | ||||
| As of March 8, 2013 | ||||