Well, it wasn’t as bad as it once was. The markets opened in a rout this morning, rallied this afternoon, then settled down less than 1%. It wasn’t a pretty journey.
U.S. stocks extended their January slide, sending the Standard & Poor’s 500 Index to its worst January since 2010, as
earnings reports at Amazon.com Inc. and Mattel Inc. disappointed investors and turmoil in emerging markets continued. As bad as the close was, it was worse earlier. The S&P 500 trimmed losses after slumping as much as 1.2 percent today to 1,772.26, approaching its lowest level since Dec. 18. So it tested its recent low and bounced back. It could have been much worse. The S&P 500 fell 3.6 percent in January, its first monthly decline since August, as emerging-market currencies slumped amid signs China’s economy is slowing. All is not doom and gloom. The S&P 500 last fell to start the year in 2010, when the gauge rallied 17 percent in the next 11 months to finish the year with a 13 percent gain. So there is hope for 2014
About 79 percent of the companies in the S&P 500 that have posted earnings this season exceeded analysts’ projections. Profit at S&P 500 companies probably rose 8.3 percent in the fourth quarter of 2013, but sales revenue only increased 2.6 percent. And if China’s and emerging markets economies falter, corporate revenue isn’t likely to get a remarkably better.
Crude Oil and Natural Gas sold off, Gold and Silver rose slightly, currencies were all over the place with emerging markets in turmoil.
As to the Super Bowl, I like the Manning family, always have, always will, so I am pulling for Peyton.
Ticker | Last | Change | % Chg Today | % Chg 1Year | YTD Tot Ret | |
U.S. STOCK MARKET | | | | | | |
Dow Jones Industrial Average | INDU Index | 15698.85 | -149.760 | -0.945 | 13.263 | -5.186 |
S&P 500 Index | SPX Index | 1782.58 | -11.610 | -0.647 | 18.860 | -3.563 |
NASDAQ 100 Index | NDX Index | 3521.92 | -10.487 | -0.297 | 28.936 | -1.910 |
NASDAQ Composite Index | CCMP Index | 4103.88 | -19.246 | -0.467 | 30.608 | -1.683 |
Russell 3000 Index | RAY Index | 1072.27 | -6.760 | -0.626 | 20.116 | -3.258 |
Russell 1000 Index (Large Cap) | RIY Index | 996.48 | -6.180 | -0.616 | 19.685 | -3.290 |
Russell 2000 Index (Small Cap) | RTY Index | 1130.86 | -8.500 | -0.746 | 25.240 | -2.863 |
Russell Mid Cap Index | RMC Index | 1461.89 | -7.070 | -0.481 | 21.653 | -2.019 |
Wilshire 5000 Total Market | W5000 Index | 19105.24 | -112.980 | -0.588 | 20.733 | -3.049 |
FOREIGN STOCKS | | | | | | |
FTSE ALL-WORLD INDEX | | 258.06 | -1.280 | -0.494 | 10.236 | -4.032 |
FTSE ALL-WORLD EX U.S. INDEX | | 267.31 | -0.990 | -0.369 | 2.887 | -4.533 |
FTSE ALL-WORLD DEVELOPED IDX | | 250.15 | -1.390 | -0.553 | 13.332 | -3.785 |
FTSE ALL-WORLD DEVL EX U.S. | | 251.34 | -1.200 | -0.475 | 7.287 | -4.116 |
FTSE ALL-WORLD DEVL EUROPE | | 246.76 | -2.060 | -0.828 | 10.759 | -3.826 |
FTSE ALL-WORLD DEVL ASIA-PAC | | 234.27 | 0.340 | 0.145 | 4.561 | -4.537 |
FTSE ALL-WORLD EMERGING MKTS | | 459.03 | 0.690 | 0.151 | -14.474 | -6.552 |
EURO STOXX 600 INDEX | EUROPE | 322.52 | -0.800 | -0.247 | 12.290 | -1.633 |
EURO STOXX TOTAL MARKET | EUROPE | 315.98 | -0.790 | -0.249 | 12.765 | -1.601 |
FTSE 100 INDEX | UK | 6510.44 | -28.010 | -0.428 | 3.721 | -3.451 |
CAC 40 INDEX | FRANCE | 4165.72 | -14.300 | -0.342 | 11.604 | -3.009 |
DAX INDEX | GERMANY | 9306.48 | -67.000 | -0.715 | 19.681 | -2.572 |
NIKKEI 225 INDEX | JAPAN | 14914.53 | -92.530 | -0.617 | 33.269 | -8.445 |
HANG SENG INDEX | HONG KONG | 22035.42 | -106.190 | -0.480 | -7.139 | -5.453 |
TEL AVIV 100 INDEX | ISRAEL | 2033.08 | -16.831 | -0.821 | -14.771 | -3.917 |
SHANGHAI COMP INDEX | CHINA | 2033.08 | -16.831 | -0.821 | -14.771 | -3.917 |
RUSSIAN RTS INDEX | RUSSIA | 1301.07 | 0.050 | 0.004 | -19.793 | -19.793 |
TREASURIES | % Yield | | | | | |
3 Month Treasury | 0.0203 | | 0.000 | 0.000 | | |
6 Month Treasury | 0.0558 | | -0.005 | -9.091 | | |
2 Year Treasury | 0.3317 | 100.09 | 0.023 | 0.023 | | |
5 Year Treasury | 1.4951 | 100.04 | 0.207 | 0.207 | | |
10 Year Treasury | 2.6494 | 100.89 | 0.422 | 0.420 | | |
30 Year Treasury | 3.6027 | 102.72 | 0.625 | 0.612 | | |
ENERGY | | | | | | |
Crude Oil, Brent Index | Brent Crude | 106.36 | -1.590 | -1.473 | -0.654 | |
Crude Oil, Louisiana Lt. Sweet | LA Lt Sweet | 102.79 | 0.260 | 0.254 | -11.270 | |
Natural Gas, Henry Hub Index | Nat Gas | 4.88 | -0.128 | -2.554 | 21.998 | |
PRECIOUS METALS | | | | | | |
Spot Gold $/oz | GOLD | 1244.39 | 0.470 | 0.038 | -25.211 | |
Spot Silver $/oz | SILVER | 19.17 | 0.013 | 0.065 | -39.048 | |
CURRENCIES | | | | | | |
Euro | EUR Curncy | 0.74 | 0.004 | 0.488 | 0.665 | |
Japanese Yen | JPY Curncy | 102.10 | -0.630 | -0.613 | -10.202 | |
British Pound | GBP Curncy | 0.61 | 0.002 | 0.264 | -3.552 | |
Swiss Franc | CHF Curncy | 0.91 | 0.004 | 0.388 | 0.419 | |
Canadian Dollar | CAD Curncy | 1.11 | -0.003 | -0.287 | -10.396 | |
Chinese Renminbi | CNY Curncy | 6.06 | 0.003 | 0.041 | 2.553 | |
| | | | | | |
| Last | Chg Today | % Chg Today | 3 Mo Tot Ret | 6 Mo Tot Ret | YTD Tot Ret |
S&P 500 INDEX | 1782.580 | -11.61 | -0.647 | 1.885 | 6.726 | -3.563 |
S&P 500 CONSUMER DISCRETION | 498.480 | -6.42 | -1.272 | -0.376 | 6.806 | -5.913 |
S&P 500 CONSUMER STAPLES | 419.150 | -1.83 | -0.435 | -3.073 | -0.157 | -5.133 |
S&P 500 ENERGY | 610.440 | -9.19 | -1.483 | -2.531 | 1.593 | -6.297 |
S&P 500 FINANCIALS | 283.730 | -3.28 | -1.143 | 2.947 | 3.764 | -3.614 |
S&P 500 HEALTH CARE | 647.900 | -5.30 | -0.811 | 6.561 | 10.665 | 0.934 |
S&P 500 INDUSTRIALS | 431.970 | -2.16 | -0.498 | 3.126 | 11.718 | -4.483 |
S&P 500 INFO TECHNOLOGY | 570.330 | 1.30 | 0.228 | 5.559 | 13.004 | -2.515 |
S&P 500 MATERIALS | 278.040 | -1.68 | -0.601 | 1.328 | 10.260 | -4.570 |
S&P 500 TELECOM SERVICES | 149.050 | 0.20 | 0.134 | -5.872 | -2.538 | -3.142 |
S&P 500 UTILITIES | 198.770 | 1.62 | 0.822 | 1.975 | 1.739 | 2.998 |
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Life is good! The alternative? Not so much.
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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