It's The Economy Stupid: Market Close

Well, apparently the market didn’t like hearing that the Fed actually has a plan for tapering QE.  Did I miss the memo about it becoming permanent???  See, I thought it was supposed to come to an end by design.  Silly me!  I actually thought that the economy improving well enough to end QE was a good thing.  My bad I guess.

 

As If!  The S&P 500 Index headed for its first three-day slump since September and Treasuries slid again today as the Federal Reserve indicated it may reduce stimulus in coming months as (if?) the economy improves.   According to the record of the Federal Open Market Committee’s Oct. 29-30 meetings, Fed policy makers expect that economic data will show ongoing improvement in the labor market and “thus warrant

trimming the pace of purchases in coming months.”  Great Expectations…

 

So, once again, in summary:  U.S. Stocks down, U.S. Bonds down, European Stocks down, Japanese Stocks down, Gold down, Silver down, Asian Stocks up, Oil up, Gas up.

 

Description	Ticker	Last	Change	% Chg Today	% Chg 1Year
STOCK MARKETS
Dow Jones Industrial Average	INDU Index	15900.820	-66.2100	-0.4147	24.3368
S&P 500 Index	SPX Index	1781.370	-6.5000	-0.3636	28.2640
NASDAQ 100 Index	NDX Index	3367.167	-10.9660	-0.3246	29.7728
NASDAQ Composite Index	CCMP Index	3921.270	-10.2830	-0.2616	34.4428
Russell 3000 Index	RAY Index	1064.390	-3.6700	-0.3436	29.8876
Russell 1000 Index (Large Cap)	RIY Index	990.920	-3.5900	-0.3610	29.1973
Russell 2000 Index (Small Cap)	RTY Index	1099.790	-1.5900	-0.1444	38.5458
Wilshire 5000 Total Market	W5000 Index	18878.080	-62.7900	-0.3315	30.1249
TREASURIES	% Yield
3 Month Treasury	0.0811		0.0000	0.0000
6 Month Treasury	0.0964		-0.0050	-5.2632
2 Year Treasury	0.2742	99.953	0.0234	0.0235
5 Year Treasury	1.3713	99.406	-0.1016	-0.1021
10 Year Treasury	2.7878	99.609	-0.7656	-0.7628
30 Year Treasury	3.8983	97.219	-1.8906	-1.9076
ENERGY
Crude Oil, Brent Index	Brent Crude	107.880	0.9600	0.8979	3.7921
Crude Oil, Louisiana Lt. Sweet	LA Lt Sweet	97.330	0.3400	0.3506	-11.0000
Natural Gas, Henry Hub Index	Nat Gas	3.676	0.1200	3.3746	-14.8517
PRECIOUS METALS
Spot Gold $/oz	GOLD	1244.650	-31.0000	-2.4301	-27.9135
Spot Silver $/oz	SILVER	19.861	-0.5095	-2.5012	-40.0724
CURRENCIES
Euro	EUR Curncy	0.744	0.0057	0.7717	-4.5629
Japanese Yen	JPY Curncy	100.030	-0.1100	-0.1098	-18.3118
British Pound	GBP Curncy	0.621	0.0006	0.0967	-1.1148
Swiss Franc	CHF Curncy	0.917	0.0056	0.6147	2.5753
Canadian Dollar	CAD Curncy	1.045	-0.0018	-0.1719	-4.5846
Chinese Renminbi	CNY Curncy	6.092	0.0006	0.0098	2.3281
FOREIGN INDICIES
EURO STOXX 600 INDEX	EUROPE	307.840	-0.3800	-0.1233	24.3999
FTSE 100 INDEX	UK	6681.080	-16.9300	-0.2528	16.2311
CAC 40 INDEX	FRANCE	4268.370	-3.9200	-0.0918	23.2899
DAX INDEX	GERMANY	9202.070	8.7800	0.0955	28.2878
NIKKEI 225 INDEX	JAPAN	15076.080	-50.4800	-0.3337	63.4703
HANG SENG INDEX	HONG KONG	23700.860	43.0500	0.1820	10.1118
TEL AVIV 100 INDEX	ISRAEL	2206.613	13.4880	0.6150	8.6831
SHANGHAI COMP INDEX	CHINA	2206.613	13.4880	0.6150	8.6831
	Last	Chg Today	% Chg Today	3 Mo Tot Ret	6 Mo Tot Ret	YTD Tot Ret
S&P 500 INDEX	1781.370	-6.500	-0.3636	8.2983	7.969	27.198
S&P 500 CONSUMER DISCRETION	505.870	-2.654	-0.5220	9.7405	12.147	36.129
S&P 500 CONSUMER STAPLES	440.790	-2.070	-0.4674	7.6403	4.470	25.056
S&P 500 ENERGY	636.820	-1.890	-0.2959	9.0839	5.564	22.046
S&P 500 FINANCIALS	283.580	-1.010	-0.3549	6.1852	6.368	30.236
S&P 500 HEALTH CARE	627.700	1.580	0.2523	9.9255	12.273	37.901
S&P 500 INDUSTRIALS	428.410	-2.250	-0.5225	11.3866	13.257	32.818
S&P 500 INFO TECHNOLOGY	547.820	-1.600	-0.2912	7.6227	7.988	20.090
S&P 500 MATERIALS	277.900	-2.280	-0.8138	9.2310	8.350	19.340
S&P 500 TELECOM SERVICES	157.830	-1.370	-0.8606	5.9614	-2.707	12.953
S&P 500 UTILITIES	195.090	-2.360	-1.1952	3.7711	-1.926	13.809

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

225-342-0013

jbroussard@treasury.state.la.us