Thursday, January 23, 2014

It's The Economy Stupid: Down Dow and Other Market Closes

The Dow, and yes we’re talking about the Dow again today, dropped like a rock again.  But it had a lot of company today.  Investors didn’t like the economic news they heard coming out of China, the U.S, or anywhere else.   

 

Chinese factory output may contract this month, a preliminary survey from HSBC Holdings Plc and Markit Economics signaled today as the People’s Bank of China added further funds to the financial system to ease a cash shortage. In the U.S., applications for unemployment benefits held near a six-week low, showing firings remain muted following the holidays.  The Conference Board’s Leading Indicators Index rose 0.1% in December, compared to its 1.0% increase in November.  And finally, corporate earnings released last night and today were not real strong.  They were okay by historical standards, just nothing great, and that makes significantly higher multiples and growth rates for stocks harder to justify.  Of the 101 index members that have posted

results so far this season, 73 percent have beaten estimates for profit and 66 percent have exceeded sales projections.  Per-share profit for companies in the benchmark probably climbed 6 percent in the fourth quarter, while sales increased 2.2 percent, according to data compiled by Bloomberg.

 

January Effect Scorecard (As Goes January So Goes The Year)

NAME

YTD TOTAL RETRUN

S&P 500 INDEX

-1.4204

Wilshire5000 TMI FullCap

-0.9744

RUSSELL 3000 INDEX

-1.0708

FTSE ALL-WORLD INDEX

-1.0755

FTSE ALL-WORLD EX US IDX

-0.7792

RUSSELL 2000 INDEX

0.3287

S&P 600 SMALLCAP INDEX

0.2925

 

Looks like small cap stocks are doing better than large cap stocks.

 

Description

Ticker

Last

Change

% Chg Today

% Chg 1Year

 

U.S. STOCK MARKET

 

 

 

 

 

 

Dow Jones Industrial Average

INDU Index

16197.35

-175.990

-1.075

17.244

 

S&P 500 Index

SPX Index

1827.16

-17.700

-0.959

21.793

 

NASDAQ 100 Index

NDX Index

3613.76

-13.965

-0.385

30.074

 

NASDAQ Composite Index

CCMP Index

4218.88

-24.125

-0.569

33.050

 

Russell 3000 Index

RAY Index

1099.57

-10.420

-0.939

23.257

 

Russell 1000 Index (Large Cap)

RIY Index

1020.95

-9.760

-0.947

22.680

 

Russell 2000 Index (Small Cap)

RTY Index

1171.35

-9.940

-0.841

30.147

 

Russell Mid Cap Index

RMC Index

1491.37

-14.910

-0.990

25.139

 

Wilshire 5000 Total Market

W5000 Index

19590.33

-166.070

-0.841

23.740

 

FOREIGN STOCKS

 

 

 

 

 

 

FTSE ALL-WORLD INDEX

 

266.44

-1.930

-0.719

14.417

 

FTSE ALL-WORLD EX U.S. INDEX

 

278.04

-1.290

-0.462

8.024

 

FTSE ALL-WORLD DEVELOPED IDX

 

258.24

-1.760

-0.677

17.756

 

FTSE ALL-WORLD DEVL EX U.S.

 

261.74

-0.860

-0.327

13.163

 

FTSE ALL-WORLD DEVL EUROPE

 

258.39

-0.370

-0.143

18.110

 

FTSE ALL-WORLD DEVL ASIA-PAC

 

241.40

-2.250

-0.923

8.960

 

FTSE ALL-WORLD EMERGING MKTS

 

474.54

-5.480

-1.142

-11.940

 

EURO STOXX 600 INDEX

EUROPE

332.69

-3.370

-1.003

15.429

 

EURO STOXX TOTAL MARKET

EUROPE

325.81

-3.260

-0.991

15.827

 

FTSE 100 INDEX

UK

6773.28

-53.050

-0.777

9.288

 

CAC 40 INDEX

FRANCE

4280.96

-44.020

-1.018

14.889

 

DAX INDEX

GERMANY

9631.04

-89.070

-0.916

24.956

 

NIKKEI 225 INDEX

JAPAN

15695.89

-125.070

-0.791

47.783

 

HANG SENG INDEX

HONG KONG

22733.90

-348.350

-1.509

-3.665

 

TEL AVIV 100 INDEX

ISRAEL

2042.18

-9.569

-0.466

-11.310

 

SHANGHAI COMP INDEX

CHINA

2042.18

-9.569

-0.466

-11.310

 

RUSSIAN RTS INDEX

RUSSIA

1387.33

5.740

0.415

-13.581

 

TREASURIES

% Yield

 

 

 

 

 

3 Month Treasury

0.0355

 

0.005

16.667

 

 

6 Month Treasury

0.0558

 

-0.005

-9.091

 

 

2 Year Treasury

0.3514

99.80

0.086

0.086

 

 

5 Year Treasury

1.5776

99.54

0.484

0.489

 

 

10 Year Treasury

2.7644

99.77

0.750

0.757

 

 

30 Year Treasury

3.6692

101.28

1.453

1.456

 

 

ENERGY

 

 

 

 

 

 

Crude Oil, Brent Index

Brent Crude

107.51

-0.760

-0.702

2.989

 

Crude Oil, Louisiana Lt. Sweet

LA Lt Sweet

110.16

0.880

0.805

-4.030

 

Natural Gas, Henry Hub Index

Nat Gas

4.79

0.097

2.069

13.959

 

PRECIOUS METALS

 

 

 

 

 

 

Spot Gold $/oz

GOLD

1262.40

25.320

2.047

-24.979

 

Spot Silver $/oz

SILVER

20.02

0.224

1.129

-37.684

 

CURRENCIES

 

 

 

 

 

 

Euro

EUR Curncy

0.73

-0.008

-1.097

-2.703

 

Japanese Yen

JPY Curncy

103.14

-1.400

-1.339

-14.054

 

British Pound

GBP Curncy

0.60

-0.002

-0.348

-4.722

 

Swiss Franc

CHF Curncy

0.90

-0.014

-1.536

3.646

 

Canadian Dollar

CAD Curncy

1.11

0.001

0.090

-10.273

 

Chinese Renminbi

CNY Curncy

6.05

-0.000

-0.003

2.821

 

 

 

 

 

 

 

 

 

Last

Chg Today

% Chg Today

3 Mo Tot Ret

6 Mo Tot Ret

YTD Tot Ret

S&P 500 INDEX

1827.160

-17.70

-0.959

4.778

8.697

-1.420

S&P 500 CONSUMER DISCRETION

513.290

-3.57

-0.692

4.060

9.360

-3.509

S&P 500 CONSUMER STAPLES

430.100

-4.07

-0.937

0.120

1.425

-2.818

S&P 500 ENERGY

632.710

-7.18

-1.122

1.533

3.216

-3.325

S&P 500 FINANCIALS

291.200

-4.96

-1.675

4.336

4.397

-1.417

S&P 500 HEALTH CARE

659.630

-4.82

-0.725

8.059

12.986

2.259

S&P 500 INDUSTRIALS

444.000

-5.16

-1.149

6.907

13.769

-2.033

S&P 500 INFO TECHNOLOGY

587.700

-2.12

-0.359

9.376

17.362

-0.101

S&P 500 MATERIALS

284.500

-4.25

-1.472

2.767

11.638

-2.937

S&P 500 TELECOM SERVICES

150.480

1.52

1.020

-4.192

-3.866

-2.668

S&P 500 UTILITIES

195.420

-0.60

-0.306

-0.370

-0.893

0.863

 

 

 

 

----------------------

“We hold these truths to be sacred & undeniable; that all men are created equal & independant, that from that equal creation they derive rights inherent & inalienable, among which are the preservation of life, & liberty, & the pursuit of happiness; ...” ~ Thomas Jefferson

 

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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