Saturday, July 29, 2006

The week in review

  • Stocks had their best week in months as the DJIA gained 353.32 points, 3.23% to close out the week at 11,219.70.
  • S and P 500 gained 38.26, 3.08% and closed Friday at 1278.55.
  • 10-year Treasury yield dropped again this week, 0.051 percentage points and closed at 4.996%, the first time below 5% in months.
  • Crude oil dropped another $1.19/bbl to $73.24.
Fueling stock prices on Friday was the news that the U.S. economy's growth rate slowed dramatically in the second quarter, building hopes for an end to Fed rate hikes. Have we seen the end of the tightening cycle?

No comments: