Weekly Market Update - September 13, 2013
Domestic stock prices posted strong gains on the week. The S&P 500 enjoyed its best week since July, as fears about potential Fed tapering have subsided, as has nervousness about the situation in Syria. Investors seem to be of the opinion that recent lackluster economic data may be enough for the Fed to consider minimizing any scaling back of its bond-purchase program. Global markets also rallied sharply on the week. World markets gained ground on accelerating merger activity, a positive report on Chinese exports, and hopes that any tapering of the Fed’s program may not be as extensive as once thought. European stocks, as measured by the Stoxx 600 Index, reached their highest level in five years yesterday.
Treasury prices were slightly higher for the week. The yield on the benchmark 10-year U.S. Treasury declined modestly this week, as economic data released prior to next week’s Federal Open Market Committee meeting was weaker than expected.
Commodity indices were lower on the week. All three of the major commodity complexes – energy, metals and grains – posted losses on the week.
| MARKET DASHBOARD | ||||
| Index |
Price |
Weekly Chg. |
% Chg. |
YTD % Chg. |
| S&P 500 |
1,687.99 |
31.41 |
1.90% |
18.3% |
| Dow Industrials |
15,376.06 |
445.70 |
2.99% |
17.3% |
| Nasdaq Composite |
3,722.18 |
55.64 |
1.52% |
23.1% |
| Russell 2000 |
1,053.98 |
21.98 |
2.14% |
23.8% |
| Euro Stoxx Index |
311.46 |
5.00 |
1.63% |
11.2% |
| Shanghai Composite |
2,236.22 |
96.22 |
4.50% |
-1.5% |
| 10-Year U.S. Treasury |
2.90 |
-5 bps |
NM |
NM |
| DJ UBS Commodity Index |
129.32 |
-1.54 |
-1.18% |
-7.1% |
| Gold |
$1,324.13 |
-$76.78 |
-5.52% |
-21.5% |
| Crude Oil |
$108.52 |
$2.65 |
-2.40% |
15.3% |
| U.S. Dollar Index |
81.47 |
-0.58 |
-0.70% |
2.3% |
| VIX Index |
14.19 |
-1.58 |
-9.97% |
-20.8% |
|
Source: Bloomberg As of September 13, 2013 |
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