The foils for the stock market this week were many, but the damage was relatively minimal.
Whether traders focused on the carnage in the subprime mortgage market, a Bank of Japan rate hike, the Federal Reserve and inflation fears, or Iran missing its deadline to halt uranium enrichment, the result was just drama, drama, drama. Still, major averages remained supported by their long-term foundation of abundant liquidity.
After hitting an all-time high on Tuesday, the Dow Jones Industrial Average ended the week down 0.9% at 12,647.48. The Dow Jones Transportation Average marched to another all-time high on Wednesday, and ended the week up 1%. The Nasdaq Composite also ended the week on an up note, gaining 0.8% to close at 2515.10. And, the S&P 500 ended the week down only 0.3% to close at 1451.19. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.07 |
Oil *
77.10
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.72
|
10 Yr
3.21%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-2.20%
|
Data delayed 20 minutes |
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