It was a relatively flat week for the markets overall, with all of the indices finishing the week up but none more than half of a percentage point. That, however, didn't stop the S&P 500 from closing Friday at its highest point since June 2008. Despite the great year so far for the markets, many investors will be surprised to know that the S&P 500 is almost as cheap as it has ever been compared to bond yields.
Index |
Change |
Ending Value |
---|---|---|
Dow Jones Industrial Average |
+33.08 [+0.26%] | 12,983 |
Nasdaq |
+11.97 [+0.41%] | 2,964 |
S&P 500 |
+4.51 [+0.33] | 1,366 |
The losers
Although it was a flat week for the major indices, there were two Dow stocks in particular that posted big declines. The biggest Dow loser was Hewlett-Packard
The Dow's second biggest loser was Wal-Mart
Outside the Dow, retailer Gap also saw disappointing earnings that pushed its stock down more than 9% on the week. Net income fell 40% and the company's margins continued to contract. Despite the weak earnings, Gap's board approved $1 billion in additional share repurchases and increased the annual dividend by 11%. The company has overextended itself in many areas and has announced plans to close more than 20% of its North American stores over the next two years.
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