Weekly Market Update - September 6, 2013
Domestic stock prices started the month on a strong note. September is historically the most difficult for investors, but this week stocks rallied. A primary driver this week was, ironically, lower than expected job growth, which signaled to investors that perhaps Fed tapering may not be as significant as previously believed. Small-cap stocks were especially strong on the week. Global markets also delivered solid performance on the week. World markets also performed well this week, outpacing domestic indexes. European markets continued their strong gains after today’s jobs report lowered the probability of a Fed tapering this month. Emerging markets stocks posted their biggest weekly advance in two months.
Treasury prices were lower for the week. The yield on the benchmark 10-year U.S. Treasury rose this week, but declined today on speculation that Fed tapering may not occur soon. Yields breached the 3.0% level before today’s decline.
Commodity indices were mixed on the week. Crude oil advanced sharply, while gold and grains meandered lower.
| MARKET DASHBOARD | ||||
| Index |
Price |
Weekly Chg. |
% Chg. |
YTD % Chg. |
| S&P 500 |
1,655.17 |
30.05 |
1.84% |
16.6% |
| Dow Industrials |
14,922.50 |
189.52 |
1.28% |
14.5% |
| Nasdaq Composite |
3,660.01 |
85.52 |
2.38% |
21.7% |
| Russell 2000 |
1,029.55 |
23.65 |
2.34% |
21.8% |
| Euro Stoxx Index |
306.10 |
8.78 |
2.95% |
9.4% |
| Shanghai Composite |
2,139.99 |
41.61 |
1.98% |
-5.7% |
| 10-Year U.S. Treasury |
2.94 |
18 bps |
NM |
NM |
| DJ UBS Commodity Index |
130.77 |
0.30 |
0.23% |
-6.0% |
| Gold |
$1,389.64 |
-$7.07 |
-0.51% |
-17.1% |
| Crude Oil |
$110.18 |
$2.84 |
2.64% |
18.0% |
| U.S. Dollar Index |
82.17 |
0.13 |
0.16% |
3.1% |
| VIX Index |
15.86 |
-1.77 |
-10.41% |
-15.4% |
|
Source: Bloomberg As of September 6, 2013 |
||||