It's The Economy Stupid: Where are we???

Where do we stand this morning after Friday’s debacle?

 

NAME	YTD TOTAL RETRUN
DOW JONES INDUS. AVG	-4.0969
S&P 500 INDEX	-3.0537
Wilshire 5000 TMI Full Cap	-2.7271
RUSSELL 3000 INDEX	-2.7733
FTSE ALL-WORLD INDEX	-3.3177
FTSE ALL-WORLD EX US IDX	-3.5743
RUSSELL 2000 INDEX	-1.6432
FTSE DEVELOPED MKT IDX	-3.0285
FTSE Emerging  Mkt Index	-6.2582

 

Here’s what we know.  Developed markets (U.S., Great Brittan, Germany, etc.) are doing better than emerging markets (China, Russia, India, etc.) and small cap stocks (Russell 2000) are doing better than large cap stocks (S&P 500). 

 

Of the 125 companies in the S&P 500 to have posted earnings so far this season, 74 percent have beaten analysts’ estimates for profit and 68 percent have exceeded projections for sales, according to data compiled by Bloomberg. Stocks in the S&P 500 probably increased their earnings per share by about 6.6 percent in the fourth quarter of 2013 and their revenue by about 2.6 percent, according to analysts’ estimates compiled by Bloomberg.

 

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Gibbs Rules #8:  Never take anything for granted

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

225-342-0013

jbroussard@treasury.state.la.us