Part policy and part fundamentals, last week’s rally in stock prices took the Dow Jones Industrials and S&P 500 to new highs, while yields on peripheral European sovereign debt fell to new lows. Thanks go to the European Central Bank and the U.S. jobs machine. Follow the link below to our report and weekly market tables.
Emerging markets are back. Well that may be too broad a generalization. India’s Sensex stock index recently broke through to new highs, surpassing the 2007 and 2010 peaks, and the MSCI Emerging Markets total return index is up more than 3% for the year to date. China’s recovery is still problematic, but investors have seized on last month’s uptick in manufacturing, slight though it was. Follow the link below to our weekly markets report.
The S&P 500 closed last week at an all-time high, and laggard NASDAQ edged back into positive territory for the year to date. Heading into the long Memorial Day weekend, stock market volatility fell to 12-month lows and trading volume was light. Follow the link below to our report on last week’s markets.