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Market Recap (May 2013)

Despite some volatility toward the end of the month, bulls generally continued to have their way with domestic equities. The S&P 500 barely took a breath as it barreled through the 1,600 level, eventually hitting a record close of 1,669.16 on May 21. The Dow did the same with 15,000 and hit its own new record of 15,409.39 before fading a bit. The Nasdaq had its best month since January, and an equally strong month for the small-cap Russell 2000 gave it the best year-to-date performance of the four domestic indices. However, the Global Dow failed to add much to the previous month’s gains, though it did manage to stay positive.

Meanwhile, bond prices suffered as the 10-year Treasury yield increased almost half a percent during the month. U.S. bonds weren’t the only ones to suffer; as Japanese bond yields spiked, the yen, which had been gaining against the dollar since late last year, plunged along with the Nikkei index. The spot oil price fell slightly to just under $92 a barrel. And despite a bounce in the month’s second half, gold still ended May down roughly $80 at $1,393 an ounce, and has now lost roughly 17% since the first of the year.

Market/Index 2012 Close Prior Month As of 5/31 Month Change YTD Change
DJIA 13104.14 14839.80 15115.57 1.86% 15.35%
Nasdaq 3019.51 3328.79 3455.91 3.82% 14.45%
S&P 500 1426.19 1597.57 1630.74 2.08% 14.34%
Russell 2000 849.35 947.46 984.15 3.87% 15.87%
Global Dow 1995.96 2178.44 2185.46 .32% 9.49%
Fed. Funds .25% .25% .25% 0 bps 0 bps
10-year Treasuries 1.78% 1.70% 2.16% 46 bps 38 bps

Equities data reflect price changes, not total return.

 

 

 

Source: Broadridge

Posted in: Uncategorized

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