Weekly Market Update Oct. 26, 2012
Domestic stock prices posted significant losses for the week. Despite today’s slightly better‐than‐expected GDP report, stocks closed out the week lower as a result of several disappointing quarterly earnings results. Global markets were also lower. World markets followed the lead of the U.S., generally declining on weak earnings reports. European stocks declined, partly as a result of Spain’s ongoing fiscal problems and delays in seeking aid. Spain’s unemployment rate reached an all‐time high of approximately 25%.
Treasury prices were little changed this week. Yields on the benchmark 10‐year Treasury ended the week slightly lower. Yields had declined earlier today based on Spain’s unemployment report, but the GDP report caused prices to drop and yields to rise.
Commodity indexes plunged this week. Energy prices dropped after weak demand caused inventories to spike to the highest levels ever for this time of year. Gold was modestly lower. Agricultural commodities prices were mixed.
| MARKET DASHBOARD | ||||
| Index | Price | Weekly Chg. | % Chg. | YTD % Chg. |
| S&P 500 | 1,412.39 | -21.57 | -1.5% | 12.2% |
| Dow Industrials | 13,107.21 | -236.30 | -1.8% | 7.3% |
| Nasdaq Composite | 2,987.95 | -17.67 | -0.6% | 14.7% |
| Russell 2000 | 813.25 | -7.75 | -0.9% | 9.8% |
| Euro Stoxx Index | 270.51 | -3.57 | -1.3% | 10.6% |
| Shanghai Composite | 2,066.21 | -62.09 | -2.9% | -6.1% |
| 10-Year U.S. Treasury | 1.75 | -2 bps | NM | -1 bps |
| DJ UBS Commodity Index | 143.00 | -3.37 | -2.3% | 1.6% |
| Gold | $1,712.02 | -$9.73 | -0.6% | 9.4% |
| Crude Oil | $86.14 | -$4.30 | -4.8% | -12.2% |
| U.S. Dollar Index | 80.05 | 0.43 | 0.5% | -0.2% |
| VIX Index | 17.81 | 0.74 | 4.3% | -23.9% |
| Source: Bloomberg | ||||
| As of October 26, 2012 | ||||