Market Dashboard

Last update: 9/17/2018

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Last week's featured headlines and data

Domestic

  • For the week ending September 14, the S&P 500® Index rose 1.16% to 2,904.98; the S&P TR Index rose 1.21%. The S&P 500 TR’s total return year to date, including price change plus dividends, was 10.18%. The Dow Jones Industrial Average (Total Return) rose 0.94%.
  • Stocks advanced for the week as trade concerns eased. Energy and telecom were the best performing sectors, while financials and real estate were laggards. Consumer prices rose in August, although 0.1% below consensus estimates. Core inflation increased 2.2% on a year-over-year basis. Bitcoin continued to fall, ending the week at $6,538.
  • Hurricane Florence moved into the Carolinas on Friday, prompting mass evacuations in low-lying coastal areas. The slow-moving storm, fueled by warm Atlantic waters, brought a massive storm surge, torrential rains, and high winds.
  • The Environmental Protection Agency is attempting to make it easier to release methane into the atmosphere, which is viewed as a boon to energy companies. Earlier this year, the agency rolled back limits on emissions of carbon dioxide released by passenger vehicles and coal-fired power plants.
  • House Republicans introduced legislation to make the 2017 tax cuts for individuals permanent. The GOP is attempting to highlight its signature legislative achievement in advance of November’s midterm elections.
  • Congressional lawmakers have reached a preliminary deal on a funding arrangement aimed at averting a government shutdown next month. For now, President Trump has backed away from earlier demands to tie government funding to a Mexico border wall, agreeing to delay the issue until after the midterm votes.   
 
 
 

International

  • Amid rising inflation in Turkey and calls to raise interest, President Recep Tayyip Erdogan announced that Turkey should do just the opposite and cut interest rates. Turkey’s central bank defied Erdogan’s requests and went ahead with rate increases.
  • Trade talks with Canada continued on a pr For the week ending September 14, the S&P 500® Index rose 1.16% to 2,904.98; the S&P TR Index rose 1.21%. The S&P 500 TR’s total return year to date, including price change plus dividends, was 10.18%. The Dow Jones Industrial Average (Total Return) rose 0.94%.
  • Stocks advanced for the week as trade concerns eased. Energy and telecom were the best performing sectors, while financials and real estate were laggards. Consumer prices rose in August, although 0.1% below consensus estimates. Core inflation increased 2.2% on a year-over-year basis. Bitcoin continued to fall, ending the week at $6,538.
  • Hurricane Florence moved into the Carolinas on Friday, prompting mass evacuations in low-lying coastal areas. The slow-moving storm, fueled by warm Atlantic waters, brought a massive storm surge, torrential rains, and high winds.
  • The Environmental Protection Agency is attempting to make it easier to release methane into the atmosphere, which is viewed as a boon to energy companies. Earlier this year, the agency rolled back limits on emissions of carbon dioxide released by passenger vehicles and coal-fired power plants.
  • House Republicans introduced legislation to make the 2017 tax cuts for individuals permanent. The GOP is attempting to highlight its signature legislative achievement in advance of November’s midterm elections.
 
 

Fixed income

  • The yield on the benchmark 10-year Treasury note briefly rose above 3% on Friday for the first time since early August before retreating to finish the week at 2.99%.
  • In response to Russia’s interference in US elections, Congress is working on restricting US investor access to newly issued Russian debt. Russian ruble-denominated bond prices have dropped to near 7% since early August, when Congress began its efforts to impose further sanctions on Russia.
  • S&P Global Chief Financial Officer Ewout Steenbergen is optimistic that S&P will be able to enter the Chinese market now that restrictions on credit rating agencies have been lifted. Steenbergen hopes that by rating Chinese debt, more international investors will enter the Chinese financial markets.
 
 

Other news

  • Jack Ma, the executive chairman and co-founder of Chinese tech giant Alibaba Group Holding, confirmed that he will be leaving the company next year. Ma will be succeeded by CEO Daniel Zhang, who joined Alibaba in 2007.
  • Apple rolled out a new line of larger iPhones with faster chips, high-end displays—and prices to match. The iPhone XS and XS Max will be priced at over $1,000, with a midrange model starting at $759.
  • Alphabet (Google), Twitter, Facebook, and other tech firms could face fines as high as 4% of annual revenue, if proposed European legislation is passed. In particular, Facebook would be required to remove terror propaganda within an hour of European authorities requesting that it be taken down.
  • Nokia and Volaris Group—a Toronto-based software company—agreed to transfer the majority of Nokia's IP video business to Volaris.
 
 
 
 

Trailing returns

Trailing index returns for week ending Sept. 14, 2018

S&P 500 sector performance

S&P 500 sector performance for week ending Sept. 14, 2018

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Russell Style Indexes

Russell Style Indexes for week ending Sept. 14, 2018

Fixed income rates

Fixed income rates for week ending Sept. 14, 2018

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The week ahead

  • The Tokyo Stock Exchange closed in observance of Respect for the Aged Day.
  • ­The New York Fed’s Empire State Manufacturing Survey for September is released.
  • Alibaba Group Holding hosts an investor day that runs through Tuesday in Hangzhou, China.
  • FedEx and others post quarterly earnings results.
 
 
  • The Housing Market Index reported.
  • ­Redbook is released.
  • The United Nations’ General Assembly convenes in New York.
  • ­General Mills and others post quarterly earnings results.
 
 
 
  • The Census Bureau releases its housing starts data for August.
  • ­The Bank of Japan announces its decision on interest rates.
  • ­The EIA Petroleum Status Report is released.
  • ­Danske Bank, Denmark’s largest bank, is expected to release findings of an internal probe on $150 billion in potentially laundered Russian money.
  • ­The Bureau of Economic Analysis releases second-quarter current-account data.
  • ­MBA mortgage applications are reported.
  • ­Red Hat and others post quarterly earnings results.
 
 
 

 

  • The National Association of Realtors announces existing home-sale figures for August.
  • ­The Leading Economic Index for August is reported.
  • ­The Philadelphia Fed releases its Manufacturing Business Outlook Survey for September.
  • ­The EIA Natural Gas Storage Report released.
  • ­Jobless claims are reported.
  • Micron Technology and others post quarterly earnings results.
 
 
 
  • The Manufacturing Purchasing Managers Index is released.
  • The Baker Hughes Rig Count is reported.
  • Steelcase and others post quarterly earnings results.
 
 
 

Index Benchmarks

Weekly and monthly style performance charts use Russell 1000, Russell Mid Cap, and Russell 2000 style indexes to represent large cap, mid cap, and small cap respectively.

BarCap Municipal TR USD: Listed for municipal-bond funds. This index serves as a benchmark for long-term, investment-grade, tax-exempt municipal bonds. The returns we publish for the index are total returns, which include reinvestment of dividends.

BarCap US Agg Bond TR USD: Composed of the BarCap Government/Credit Index, the Mortgage-Backed Securities Index, and the Asset-Backed Securities Index. The returns we publish for the index are total returns, which include reinvestment of dividends.

Barclays Capital U.S. Corporate High-Yield Bond Index: The U.S. Corporate High-Yield Index covers the USD-denominated, non-investment grade, fixed-rate, taxable corporate bond market. Securities are classified as high-yield if the middle rating of Moody’s, Fitch, and S&P is Ba1/BB+/BB+ or below. The index excludes emerging markets debt. The index was created in 1986, with index history backfilled to January 1, 1983. The U.S. Corporate High-Yield Index is part of the U.S. Universal and Global High-Yield Indexes.

Barclays Capital U.S. 7–10 Year Treasury: The index measures the performance of U.S. Treasury securities that have a remaining maturity of at least seven years and less than 10 years.

Bloomberg Gold Subindex: Formerly known as Dow Jones-UBS Gold Subindex (DJUBSGC), the index is a commodity group subindex of the Bloomberg CI composed of futures contracts on Gold. It reflects the return of underlying commodity futures price movements only and is quoted in USD.

Bloomberg WTI Crude Oil Subindex: Formerly known as Dow Jones-UBS WTI Crude Oil Subindex Total Return (DJUBCLTR), the index is a single commodity subindex of the Bloomberg CI composed of futures contracts on crude oil. It reflects the return of underlying commodity futures price movements only and is quoted in USD. 

Citigroup World Government Bond Index (Citigroup WGBI) is a market capitalization weighted index consisting of the government bond markets. Country eligibility is determined based on market capitalization and investability criteria. All issues have a remaining maturity of at least one year.

Dow Jones Industrial Average: Computed by summing the prices of the stocks of 30 companies and then dividing that total by an adjusted value—one which has been adjusted over the years to account for the effects of stock splits on the prices of the 30 companies. Dividends are reinvested to reflect the actual performance of the underlying securities.

DJ UBS Sub Crude Oil TR USD: Indexes in the DJ-UBSCIsm family are calculated on both an excess return and total return basis. The excess return indexes reflect the return of underlying commodity futures price movements only, whereas the total return indexes reflect the return on fully collateralized futures positions. 19 commodities are included in the DJ-UBSCIsm, representing the following commodity sectors: energy, precious metals, industrial metals, livestock, and agriculture.

DJ UBS Sub Gold TR USD: Indexes in the DJ-UBSCIsm family are calculated on both an excess return and total return basis. The excess return indexes reflect the return of underlying commodity futures price movements only, whereas the total return indexes reflect the return on fully collateralized futures positions. 19 commodities are included in the DJ-UBSCIsm, representing the following commodity sectors: energy, precious metals, industrial metals, livestock, and agriculture.

J.P.Morgan Emerging Markets Bond Index Global (EMBI Global) tracks total returns for traded external debt instruments in the emerging markets, and is an expanded version of the JPMorgan EMBI+. As with the EMBI+, the EMBI Global includes U.S.dollar-denominated Brady bonds, loans, and eurobonds with an outstanding face value of at least $500 million. It covers more of the eligible instruments than the EMBI+ by relaxing somewhat the strict EMBI+ limits on secondary market trading liquidity.

MSCI EAFE (Europe, Australasia, Far East) Index: A free float-adjusted market-capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. The MSCI EAFE Index consists of the following 21 developed market country indexes: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom. For more information, visit the MSCI website.

MSCI EMF (Emerging Markets Free) Index: A free float-adjusted market-capitalization index that is designed to measure equity market performance of emerging markets. The MSCI Emerging Markets Index consists of the following 23 emerging market country indexes: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Russia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates. For more information, visit the MSCI web site.

Russell 1000: Consists of the 1000 largest companies within the Russell 3000 index. Also known as the Market-Oriented Index, because it represents the group of stocks from which most active money managers choose. The returns we publish for the index are total returns, which include reinvestment of dividends. Frank Russell Company reports its indexes as one-month total returns.

Russell 1000 Growth: Market-capitalization weighted index of those firms in the Russell 1000 with higher price-to-book ratios and higher forecasted growth values. The Russell 1000 includes the largest 1000 firms in the Russell 3000, which represents approximately 98% of the investable US equity market.

Russell 1000 Value: Market-capitalization weighted index of those firms in the Russell 1000 with lower price-to-book ratios and lower forecasted growth values. The Russell 1000 includes the largest 1000 firms in the Russell 3000, which represents approximately 98% of the investable US equity market.

Russell 2000: Consists of the smallest 2000 companies in the Russell 3000 Index, representing approximately 7% of the Russell 3000 total market capitalization. The returns we publish for the index are total returns, which include reinvestment of dividends.

Russell 2000 Growth: Market-weighted total return index that measures the performance of companies within the Russell 2000 Index having higher price-to-book ratios and higher forecasted growth values. The Russell 2000 Index includes the 2000 firms from the Russell 3000 Index with the smallest market capitalizations. The Russell 3000 Index represents 98% of the of the investable US equity market.

Russell 2000 Value: Market-weighted total return index that measures the performance of companies within the Russell 2000 Index having lower price-to-book ratios and lower forecasted growth values. The Russell 2000 Index includes the 2000 firms from the Russell 3000 Index with the smallest market capitalizations. The Russell 3000 Index represents 98% of the of the investable US equity market.

Russell Midcap: Measures the performance of the 800 smallest companies in the Russell 1000 Index, which represent approximately 25% of the total market capitalization of the Russell 1000 Index. As of the latest reconstitution, the average market capitalization was approximately $4.0 billion; the median market capitalization was approximately $2.9 billion. The largest company in the index had an approximate market capitalization of $12 billion.

Russell Midcap Growth: Market-weighted total return index that measures the performance of companies within the Russell Midcap Index having higher price-to-book ratios and higher forecasted growth values. The Russell Midcap Index includes firms 201 through 1000, based on market capitalization, from the Russell 3000 Index. The Russell 3000 Index represents 98% of the of the investable U.S. equity market.

Russell Midcap Value: Market-weighted total return index that measures the performance of companies within the Russell Midcap Index having lower price-to-book ratios and lower forecasted growth values. The Russell Midcap Index includes firms 201 through 1000, based on market capitalization, from the Russell 3000 Index. The Russell 3000 Index represents 98% of the of the investable U.S. equity market.

NASDAQ: Measures the performance of all issues listed in the NASDAQ Stock Market, except for rights, warrants, units, and convertible debentures. Morningstar reports the NASDAQ Composite as a price return.

S&P 500: A market capitalization-weighted index of 500 widely held stocks often used as a proxy for the stock market. It measures the movement of the largest issues. Standard and Poor's chooses the member companies for the 500 based on market size, liquidity and industry group representation. Included are the stocks of industrial, financial, utility, and transportation companies. Since mid-1989, this composition has been more flexible and the number of issues in each sector has varied. The returns presented for the S&P 500 are total returns, including the reinvestment of dividends each month.

The S&P 500 Consumer Discretionary sector comprises those companies included in the S&P 500 that are classified as members of the consumer discretionary sector.

The S&P 500 Consumer Staples sector comprises those companies included in the S&P 500 that are classified as members of the consumer staples sector.

The S&P 500 Energy sector comprises those companies included in the S&P 500 that are classified as members of the energy sector.

The S&P 500 Financials sector comprises those companies included in the S&P 500 that are classified as members of the financial sector.

The S&P 500 Health Care sector comprises those companies included in the S&P 500 that are classified as members of the health care sector.

The S&P 500 Industrials Sector comprises those companies included in the S&P 500 that are classified as members of the industrials sector.

The S&P 500 Information Technology Sector comprises those companies included in the S&P 500 that are classified as members of the information technology sector.

The S&P 500 Materials Sector comprises those companies included in the S&P 500 that are classified as members of the materials sector.

The S&P 500 Telecommunications Services Sector comprises those companies included in the S&P 500 that are classified as members of the telecommunications services sector.

The S&P 500 Utilities Sector comprises those companies included in the S&P 500 that are classified as members of the utilities sector.