Wednesday, November 13, 2013

It's The Economy Stupid: Market Close & Stupid Silly Money

Signs of the zombie apocalypse:  Facebook offered to buy Snapchat for $3 Billion.  Snapchat’s sales are $0.  That’s right, zilch, zero!  Snapchat raised money this spring in a Series B round of investments from Institutional Venture Partners, General Catalyst, Benchmark, Lightspeed Ventures and SV Angel. The Series B round valued Snapchat at $860 million in the eyes of the venture capitalists.   Snapchat turned Facebook down!  $3 Billion and they turned them down!!!  I’m telling you, I’m hearing Prince music in my head!!!  “…two thousand zero zero party over, oops out of time, so tonight I'm gonna party like it's 1999…”   I got three words for you…Dot Com Bubble.

 

Starting to feel alarmingly a lot like an “App Bubble”.  Stupid Silly Money.

 

And the Dow Jones & the S&P 500 set new all-time highs today.  I don’t take a lot of comfort from Maria Bartiromo calling it a “melt up” on CNBC.  There is a big difference between companies with real, solid earnings and tech/app companies with zero revenue.

 

Description

Ticker

Last

Change

% Chg Today

% Chg 1Year

 

STOCK MARKETS

 

 

 

 

 

 

Dow Jones Industrial Average

INDU Index

15821.630

70.9600

0.4505

23.8119

 

S&P 500 Index

SPX Index

1780.330

12.6400

0.7151

29.1802

 

NASDAQ 100 Index

NDX Index

3405.565

40.3400

1.1987

32.4769

 

NASDAQ Composite Index

CCMP Index

3965.575

45.6550

1.1647

37.0843

 

Russell 3000 Index

RAY Index

1067.330

9.1300

0.8628

31.1318

 

Russell 1000 Index (Large Cap)

RIY Index

992.930

8.4000

0.8532

30.3536

 

Russell 2000 Index (Small Cap)

RTY Index

1112.170

10.7000

0.9714

40.5736

 

Wilshire 5000 Total Market

W5000 Index

18943.600

162.4300

0.8649

31.4908

 

TREASURIES

% Yield

 

 

 

 

 

3 Month Treasury

0.0761

 

0.0050

7.6923

 

 

6 Month Treasury

0.0964

 

-0.0038

-4.0512

 

 

2 Year Treasury

0.3100

99.883

0.0313

0.0313

 

 

5 Year Treasury

1.3955

99.297

0.2656

0.2682

 

 

10 Year Treasury

2.7273

98.016

0.3359

0.3439

 

 

30 Year Treasury

3.8318

96.266

0.3594

0.3747

 

 

ENERGY

 

 

 

 

 

 

Crude Oil, Brent Index

Brent Crude

107.140

1.3300

1.2570

4.0078

 

Crude Oil, Louisiana Lt. Sweet

LA Lt Sweet

96.790

0.1000

0.1034

-9.1900

 

Natural Gas, Henry Hub Index

Nat Gas

3.564

-0.0530

-1.4653

-16.6042

 

PRECIOUS METALS

 

 

 

 

 

 

Spot Gold $/oz

GOLD

1273.500

5.5000

0.4338

-26.1374

 

Spot Silver $/oz

SILVER

20.552

-0.1810

-0.8730

-36.7008

 

CURRENCIES

 

 

 

 

 

 

Euro

EUR Curncy

0.743

-0.0013

-0.1747

-5.6028

 

Japanese Yen

JPY Curncy

99.420

-0.2200

-0.2208

-20.1167

 

British Pound

GBP Curncy

0.624

-0.0047

-0.7476

-0.9683

 

Swiss Franc

CHF Curncy

0.915

-0.0022

-0.2398

3.5184

 

Canadian Dollar

CAD Curncy

1.047

-0.0030

-0.2859

-4.1878

 

Chinese Renminbi

CNY Curncy

6.094

0.0017

0.0279

2.2599

 

FOREIGN INDICIES

 

 

 

 

 

 

FTSE 100 INDEX

UK

6630.000

-96.7900

-1.4389

14.5820

 

CAC 40 INDEX

FRANCE

4239.940

-23.8400

-0.5591

23.5918

 

DAX INDEX

GERMANY

9054.830

-21.6500

-0.2385

26.3032

 

NIKKEI 225 INDEX

JAPAN

14567.160

-21.5200

-0.1475

68.1202

 

HANG SENG INDEX

HONG KONG

22463.830

-437.5800

-1.9107

4.7656

 

SHANGHAI COMP INDEX

CHINA

2087.941

-38.8310

-1.8258

1.5823

 

 

Last

Chg Today

% Chg Today

3 Mo Tot Ret

6 Mo Tot Ret

YTD Tot Ret

S&P 500 INDEX

1780.330

12.640

0.7151

5.3675

9.858

26.820

S&P 500 CONSUMER DISCRETION

509.270

7.968

1.5895

7.2656

13.771

36.690

S&P 500 CONSUMER STAPLES

442.270

3.740

0.8528

4.1021

5.256

25.184

S&P 500 ENERGY

633.700

4.070

0.6464

5.5098

8.198

20.932

S&P 500 FINANCIALS

280.460

2.290

0.8232

2.2029

8.611

28.433

S&P 500 HEALTH CARE

619.410

3.280

0.5324

5.4764

10.963

35.692

S&P 500 INDUSTRIALS

429.730

2.160

0.5052

9.0935

16.578

32.834

S&P 500 INFO TECHNOLOGY

556.510

5.610

1.0183

6.8681

11.908

21.524

S&P 500 MATERIALS

278.730

1.200

0.4324

7.2327

11.159

19.450

S&P 500 TELECOM SERVICES

156.520

-0.300

-0.1913

2.2189

-3.458

11.594

S&P 500 UTILITIES

196.180

0.550

0.2811

0.8581

-0.411

14.060

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

225-342-0013

jbroussard@treasury.state.la.us

 

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