Market Dashboard

10/16/2017

Last week's featured headlines and data

Domestic

 

  • For the week ending October 13, the S&P 500® Index rose 0.17% to 2553.17. The S&P’s total return year to date, including price change plus dividends, was 15.86%. The Dow Jones Industrial Average rose 0.43%. The 10-year US Treasury yield fell to 2.28%.
  • President Donald Trump signed an executive order that permits the sale of inexpensive, less-comprehensive insurance plans, effectively initiating an unwinding of the Affordable Care Act.
  • President Trump said he would “decertify” the Iran nuclear deal, putting the onus on Congress to decide whether to restore sanctions on Iran.
  • The Environmental Protection Agency said it would repeal a policy that curbs greenhouse-gas emissions from power plants. 

 

International

 

  • Germany’s departing finance minister, Wolfgang Schauble, said that rising global debt and liquidity pose major risks to the world economy in an interview with the Financial Times.
  • Tensions between the US and Turkey increased when both sides suspended visa services for citizens looking to visit either country.
  • Spain’s stocks and bonds rallied following the decision by Catalan separatists to defer its declaration of independence.
  • Japan’s Nikkei Index hit a two-decade closing high.
  • Sebastian Kurz's conservative Austrian People’s Party won Austria's general election on Sunday, signaling a rightward shift for the country.  

 

Fixed income

 

  • US government bonds ended the week stronger, with investors likely responding to softer-than-expected inflation data. 
  • The minutes from September’s Federal Reserve meeting indicated officials believe “some patience” is warranted in raising interest rates to assess inflation, which has been weaker than the bank’s 2% target. 

 

Other news

 

  • Wildfires swept through California’s wine country and caused significant damage.
  • The White House sent congressional leaders policy goals that would boost immigration enforcement at the border and reduce the number of new legal arrivals.
  • Trian Fund Management’s Nelson Peltz was appointed to General Electric’s board but lost a bid to join Procter & Gamble’s.
  • Two additional criminal probes by the Justice Department into Uber Technologies Inc. came to light, bringing the total to at least five. 

Trailing returns

Trailing returns for the week ending October 13, 2017

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S&P 500 sector performance

S&P 500 performance for week ending October 13, 2017

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Russell Style Indexes

Russell Style Indexes for week ending October 13, 2017

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Fixed income rates

Fixed income rates for the week ending October 13, 2017

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The week ahead

 

Monday

  • China reports on consumer prices.
  • Japan’s finance minister launches a new round of economic talks in Washington and meets with Vice President Mike Pence.
  • The Empire State Manufacturing Survey is reported.
  • The Treasury budget is released.
  • Netflix and others post results. 

 

Tuesday

  • Industrial production for September is reported.
  • A Senate committee examines the cost of prescription drugs.
  • Import and export prices are reported.
  • ­Industrial production is reported.
  • Housing Market Index is released.
  • National Football League owners meet to discuss player protests during the National Anthem.
  • Goldman Sachs Group and others post results.

 

Wednesday

  • Housing starts for September are reported.
  • The Fed releases its Beige Book survey of regional economic conditions.
  • New York Fed President William Dudley and Dallas Fed President Robert Kaplan participate in a moderated discussion on regional growth.
  • The 19th National Congress of the Communist Party of China begins.
  • The Mortgage Bankers Association (MBA) releases its report on mortgage applications.
  • The Energy Information Administration (EIA) releases its Petroleum Status Report.
  • American Express and others post results.

Thursday

  • Markets in India are closed through the end of the week.
  • Leading indicators for September are reported.
  • China reports on third-quarter GDP, and monthly industrial production and retail sales.
  • Bloomberg Consumer Comfort Index is reported.
  • EIA Natural Gas Report is released.
  • Jobless claims are reported.
  • ­Verizon Communications and others post results.

 

Friday

  • Existing-home sales for September are reported.
  • Baker-Hughes Rig Count reported.
  • Procter & Gamble and others post 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.

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 Crude Oil Subindex (a subindex of DJ UBS Commodity Index) is intended to reflect the crude oil segment of the commodities market. The index consists of futures contracts on crude oil only.

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.

DJ-UBS Gold SubindexSM is based on the gold component used in the DJ-UBS Commodity IndexSM. The subindex is priced off COMEX Gold futures contracts.

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.