| Market/Index | 2010 Close | Prior Week | As of 2/18 | Week Change | YTD Change |
|---|
| DJIA | 11577.51 | 12273.26 | 12391.25 | .96% | 7.03% |
|---|
| NASDAQ | 2652.87 | 2809.44 | 2833.95 | .87% | 6.83% |
|---|
| S&P 500 | 1257.64 | 1329.15 | 1343.01 | 1.04% | 6.79% |
|---|
| Russell 2000 | 783.65 | 822.11 | 834.82 | 1.55% | 6.53% |
|---|
| Global Dow | 2087.44 | 2198.81 | 2241.29 | 1.93% | 7.37% |
|---|
| Fed. Funds | .25% | .25% | .25% | 0 bps | 0 bps |
|---|
| 10-year Treasuries | 3.30% | 3.64% | 3.59% | -5 bps | 29 bps |
|---|
Last Week's Headlines- Both wholesale and consumer inflation rose in January for the seventh straight month, according to the Bureau of Labor Statistics. Higher gasoline and pharmaceutical costs helped push up wholesale prices for finished goods by 0.8%, on top of 0.9% and 0.7% increases in December and November respectively. Even excluding food and energy prices, wholesale inflation was up 0.5% for the month. Meanwhile, higher food and energy costs also drove up consumer inflation by 0.4% for the month. Even excluding food and energy, prices still rose 0.2%, though the annual consumer inflation rate was still only 1.6%.
- Housing starts were up 14.6% in January. The Commerce Department said multifamily housing was responsible for most of the increase, while single-family home starts were down 1% for the month. Building permits, an indicator of future construction spending, were 10.4% below the December number. and 10.7% below January 2010.
- Retail sales were up 0.3% in January and 7.8% from January 2010, with cars and auto parts, building/garden supplies, and nonstore retailers representing areas of strength. The Commerce Department's figures are not adjusted for price increases.
- Industrial production fell 0.1% in January, according to the Federal Reserve, with weather-related utilities output responsible for much of the drop. However, manufacturing output was up 5.5% from the same time last year. Meanwhile, the percentage of manufacturing capacity utilized dipped to 76.1%.
- Minutes of January's Federal Open Markets Committee (FOMC) showed that members expect the U.S. economy to grow faster than previously expected for the rest of 2011, at a rate somewhere between 3.4% and 3.9%. but that the unemployment rate would still be just under 9% by the end of the year. The minutes included no discussion of ending the current bond-buying program.
- The Conference Board's index of leading economic indicators was up 0.1% in January, with six of the ten indicators showing improvement.
Eye on the Week AheadAs earnings reports continue to come in, housing and revised GDP will dominate economic data releases. Key dates and data releases: Home prices (2/22); home resales (2/23); durable goods orders, new home sales (2/24); revised Q4 gross domestic product (2/25).
Data source: Includes data provided by Brounes & Associates. All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Past performance is no guarantee of future results. Equities data reflect price change, not total return.
The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 leading companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the NASDAQ stock exchange. The Russell 2000 is a market-cap weighted index composed of 2000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. Market indexes listed are unmanaged and are not available for direct investment.
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