July Market Snapshot (2011)

Down to the wire: Uncertainty about default, debt, and political infighting affected equities markets both here and abroad. Despite a strong initial week that gave the S&P 500 its biggest percentage gain since mid-2009, all four domestic indices ended the month down. The small caps of the Russell 2000 were hit the hardest, while the Global Dow also suffered.

Global anxiety paradoxically proved to benefit long-term U.S. Treasuries, though short-term debt suffered in the month’s final week as August 2 and the potential for default loomed. The dollar resumed a decline that had been interrupted by eurozone uncertainty. The weaker greenback helped nudge oil prices up around $100 a barrel once again; it also sent gold to a string of new records, ending above $1,600 an ounce.

Market/Index	2010 Close	Prior Month	As of 7/29	Month Change	YTD Change
DJIA	11577.51	12414.34	12143.24	-2.18%	4.89%
NASDAQ	2652.87	2773.52	2756.38	-0.62%	3.90%
S&P 500	1257.64	1320.64	1292.28	-2.15%	2.75%
Russell 2000	783.65	827.43	797.03	-3.67%	1.71%
Global Dow	2087.44	2134.29	2088.82	-2.13%	0.07%
Fed. Funds	.25%	.25%	.25%	0 bps	0 bps
10-year Treasuries	3.30%	3.18%	2.82%	-36 bps	-48 bps