Market Recap – February 2013

The Markets

Continued improvements in economic data seemed to trump any investor anxiety about the impending package of budget cuts known as the sequester. Domestic equities ended the month on a high note, though the Nasdaq continued to trail the other three indices. In February’s last week, the Dow was less than a percentage point from its 2007 all-time high, while the S&P 500 wasn’t far behind. The Global Dow suffered from political uncertainty and economic conditions in Europe.

Treasury yields dipped slightly, while the price of gold slumped almost $60 an ounce to end the month at roughly $1,580. Oil prices fell roughly $5 a barrel (though the decline certainly didn’t show up at the gas pump), and the U.S. dollar gained roughly 3% against a basket of six foreign currencies.

Equities data reflect price changes, not total return.