Weekly Market Update – March 22, 2013
Domestic stock prices were soft this week on renewed concerns over Europe. Stock prices retreated from recent levels as the bailout situation in in Cyprus evolves. While the Dow Jones Industrial Average has established new highs in the past few weeks, the S&P 500 remains slightly below the record established in October 2007. The market’s rally from its lows four years ago has been broad‐based, with similar contributions from all industry sectors, market capitalizations and growth/value factors. Global markets also moved lower on the week. World equity markets paused this week, consolidating recent gains. Investors are carefully watching how the Cyprus bailout negotiations unfold.
Treasury prices advanced modestly this week. Yields on the benchmark 10‐year Treasury were slightly lower this week, resulting from investors seeking safe‐haven assets while Europe grapples with how to best resolve the Cypriot bank crisis.
Commodity indexes were mixed this week. Precious metals, led by gold, advanced this week as investor jitters spurred buying. Crude oil pulled back on concerns that demand will decline as a result of slowing economic growth.
| MARKET DASHBOARD | ||||
| Index |
Price |
Weekly Chg. |
% Chg. |
YTD % Chg. |
| S&P 500 |
1,553.92 |
-14.90 |
-1.0% |
8.4% |
| Dow Industrials |
14,512.03 |
-36.52 |
-0.3% |
10.5% |
| Nasdaq Composite |
3,245.00 |
-14.11 |
-0.4% |
7.1% |
| Russell 2000 |
946.27 |
-5.10 |
-0.5% |
11.5% |
| Euro Stoxx Index |
294.04 |
-2.52 |
-0.8% |
5.4% |
| Shanghai Composite |
2,328.28 |
49.88 |
2.2% |
2.6% |
| 10-Year U.S. Treasury |
1.92 |
-8 bps |
NM |
2 bps |
| DJ UBS Commodity Index |
138.01 |
-0.20 |
-0.1% |
-0.7% |
| Gold |
$1607.5 |
$16.14 |
1.0% |
-4.0% |
| Crude Oil |
$93.83 |
-$0.70 |
-0.7% |
0.0% |
| U.S. Dollar Index |
82.38 |
0.36 |
0.4% |
3.6% |
| VIX Index |
13.83 |
2.69 |
23.8% |
-22.4% |
| Source: Bloomberg | ||||
| As of March 22, 2013 | ||||