Oops! Oh well, the market’s taking a little breather. The Fed apparently is going to do exactly what it said it was going to do and investors were surprised!
U.S. stocks fell with Treasuries while the dollar gained as Federal Reserve meeting minutes indicated stimulus cuts would likely continue in measured steps and the International Monetary Fund warned of risks to global growth. Ukraine’s bonds tumbled while U.S. natural gas jumped.
The S&P 500 Index fell 0.65 percent to 1828.75, down 12.01 points, after the benchmark index climbed to within one point of an all-time closing high. The 10-year Treasury yield rose two basis points to 2.73 percent, erasing declines. The Bloomberg Dollar Spot Index gained the most in three weeks. The rate on Ukraine’s June 2014 bond jumped 12 percentage points to a record 35 percent. Natural gas climbed to the highest since 2008, coffee surged to a 15-month high while silver ended the longest rally since at least 1968.
I read all that and what I get out of it is that I am going to be paying more at Starbucks and CCs for my morning cup of coffee.
Oh yeah, the Fed minutes said stimulus cuts should continue in “the absence of an appreciable change in the economic
Outlook.” The IMF said risks of prolonged market turmoil in emerging markets and of deflation in the euro area are threatening the world’s economic prospects. Reeling from the bloodiest clashes in a three-month standoff, Ukrainian President Viktor Yanukovych moved to quell a growing insurgency by granting sweeping powers to the army and police. And in the process drove the prices down on the Ukraine’s bonds.
Ticker | Last | Change | % Chg Today | % Chg 1Year | YTD Tot Ret | |
U.S. STOCK MARKET | | | | | | |
Dow Jones Industrial Average | INDU Index | 16040.56 | -89.840 | -0.557 | 14.284 | -2.871 |
S&P 500 Index | SPX Index | 1828.75 | -12.010 | -0.652 | 19.453 | -0.777 |
NASDAQ 100 Index | NDX Index | 3652.85 | -26.583 | -0.722 | 31.262 | 1.939 |
NASDAQ Composite Index | CCMP Index | 4237.95 | -34.830 | -0.815 | 31.876 | 1.666 |
Russell 3000 Index | RAY Index | 1100.29 | -7.566 | -0.683 | 20.598 | -0.472 |
Russell 1000 Index (Large Cap) | RIY Index | 1023.40 | -6.688 | -0.649 | 20.368 | -0.411 |
Russell 2000 Index (Small Cap) | RTY Index | 1149.07 | -12.416 | -1.069 | 23.290 | -1.149 |
Russell Mid Cap Index | RMC Index | 1511.30 | -6.070 | -0.400 | 22.672 | 1.468 |
Wilshire 5000 Total Market | W5000 Index | 19583.17 | -136.630 | -0.693 | 21.011 | -0.623 |
FOREIGN STOCKS | | | | | | |
FTSE ALL-WORLD INDEX | | 266.54 | -1.010 | -0.378 | 13.002 | -0.661 |
FTSE ALL-WORLD EX U.S. INDEX | | 277.61 | -0.360 | -0.130 | 7.131 | -0.689 |
FTSE ALL-WORLD DEVELOPED IDX | | 258.59 | -1.060 | -0.408 | 16.016 | -0.303 |
FTSE ALL-WORLD DEVL EX U.S. | | 261.79 | -0.380 | -0.145 | 11.808 | 0.057 |
FTSE ALL-WORLD DEVL EUROPE | | 261.09 | 0.300 | 0.115 | 18.140 | 1.908 |
FTSE ALL-WORLD DEVL ASIA-PAC | | 238.46 | -0.220 | -0.092 | 5.192 | -2.728 |
FTSE ALL-WORLD EMERGING MKTS | | 469.77 | -0.270 | -0.057 | -11.557 | -4.311 |
EURO STOXX 600 INDEX | EUROPE | 334.94 | 0.340 | 0.102 | 15.493 | 2.287 |
EURO STOXX TOTAL MARKET | EUROPE | 328.29 | 0.380 | 0.116 | 15.934 | 2.233 |
FTSE 100 INDEX | UK | 6796.71 | 0.280 | 0.004 | 6.547 | 1.219 |
CAC 40 INDEX | FRANCE | 4341.10 | 10.390 | 0.240 | 16.202 | 1.074 |
DAX INDEX | GERMANY | 9660.05 | 0.270 | 0.003 | 24.606 | 1.129 |
NIKKEI 225 INDEX | JAPAN | 14766.53 | -76.710 | -0.517 | 28.760 | -9.353 |
HANG SENG INDEX | HONG KONG | 22664.52 | 76.800 | 0.340 | -2.758 | -2.700 |
TEL AVIV 100 INDEX | ISRAEL | 2142.55 | 23.489 | 1.108 | -10.622 | 1.260 |
SHANGHAI COMP INDEX | CHINA | 2142.55 | 23.489 | 1.108 | -10.622 | 1.260 |
RUSSIAN RTS INDEX | RUSSIA | 1306.00 | -37.620 | -2.800 | -18.003 | -18.003 |
TREASURIES | % Yield | | | | | |
3 Month Treasury | 0.0558 | | 0.005 | 11.111 | | |
6 Month Treasury | 0.0862 | | 0.010 | 14.286 | | |
2 Year Treasury | 0.3145 | 100.12 | -0.031 | -0.031 | | |
5 Year Treasury | 1.5098 | 99.95 | -0.148 | -0.148 | | |
10 Year Treasury | 2.7302 | 100.17 | -0.203 | -0.202 | | |
30 Year Treasury | 3.7013 | 98.64 | -0.406 | -0.410 | | |
ENERGY | | | | | | |
Crude Oil, Brent Index | Brent Crude | 110.56 | 0.100 | 0.091 | 1.292 | |
Crude Oil, Louisiana Lt. Sweet | LA Lt Sweet | 108.41 | 0.730 | 0.678 | -8.480 | |
Natural Gas, Henry Hub Index | Nat Gas | 6.11 | 0.549 | 9.876 | 55.085 | |
PRECIOUS METALS | | | | | | |
Spot Gold $/oz | GOLD | 1311.45 | -10.520 | -0.796 | -18.315 | |
Spot Silver $/oz | SILVER | 21.52 | -0.423 | -1.926 | -27.044 | |
CURRENCIES | | | | | | |
Euro | EUR Curncy | 0.73 | 0.001 | 0.193 | -2.504 | |
Japanese Yen | JPY Curncy | 102.28 | -0.080 | -0.078 | -8.497 | |
British Pound | GBP Curncy | 0.60 | 0.000 | 0.017 | -7.527 | |
Swiss Franc | CHF Curncy | 0.89 | 0.001 | 0.090 | 3.803 | |
Canadian Dollar | CAD Curncy | 1.11 | 0.013 | 1.206 | -8.710 | |
Chinese Renminbi | CNY Curncy | 6.08 | 0.009 | 0.147 | 2.786 | |
| | | | | | |
| Last | Chg Today | % Chg Today | 3 Mo Tot Ret | 6 Mo Tot Ret | YTD Tot Ret |
S&P 500 INDEX | 1828.750 | -12.01 | -0.652 | 2.816 | 12.264 | -0.777 |
S&P 500 CONSUMER DISCRETION | 512.670 | -4.69 | -0.907 | 1.246 | 12.701 | -3.173 |
S&P 500 CONSUMER STAPLES | 425.060 | -1.32 | -0.310 | -3.363 | 4.424 | -3.749 |
S&P 500 ENERGY | 629.420 | 0.31 | 0.049 | -0.838 | 8.987 | -2.933 |
S&P 500 FINANCIALS | 287.920 | -3.77 | -1.292 | 1.616 | 9.246 | -2.046 |
S&P 500 HEALTH CARE | 674.940 | -4.07 | -0.599 | 8.270 | 18.952 | 5.279 |
S&P 500 INDUSTRIALS | 438.230 | -3.89 | -0.880 | 2.252 | 14.494 | -2.956 |
S&P 500 INFO TECHNOLOGY | 590.120 | -3.12 | -0.526 | 7.841 | 16.408 | 1.132 |
S&P 500 MATERIALS | 288.880 | -2.12 | -0.729 | 3.672 | 14.828 | -0.700 |
S&P 500 TELECOM SERVICES | 147.360 | 0.71 | 0.484 | -6.314 | 0.625 | -4.240 |
S&P 500 UTILITIES | 203.430 | -1.14 | -0.557 | 4.037 | 10.183 | 5.847 |
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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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