Market Beat: Good start, volatile turn with stock market performance
July 6, 2018
Now that 2018 is halfway over, I thought it would be a good time to take a look at how the markets have performed so far this year. The year got off to a good start but we've witnessed some volatility recently, mostly due to fears of a global trade war developing.
The Dow Jones Industrial Average hit an all time high of 26,616.71 on Jan. 26 and has struggled in a trading range ever since. Year to date as of the end of the second quarter, June 29, it is down -1.81 percent and over the last twelve months has posted a gain of 14.02 percent.
The S&P 500 also hit its all time high on Jan. 26 with a record level of 2,872.27. Year to date it has gained only 1.67 percent and it is up 12.34 percent over the last 12 months.
The NASDAQ has also hit a new record all time high this year, hitting a level of 7,806.60 just over a week ago on June 20. Year to date it has gained 8.79 percent and it's up 22.23 percent over the last year.
The Russell 2000, which consists of small cap stocks also hit its all time record high on June 20 when it touched 4,242.29. Year to date it has gained 7.0 percent and it's up 16.02 percent over the last 12 months.
The foreign MSCI EAFE index, which represents developed countries in Europe, Asia and the Far East hit its all time high on Jan. 25 at 2,186.65. It has lost -4.49 percent year to date and has gained 3.32 percent over the last year.
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The MSCI Emerging Markets Index hit its record high on Jan. 26 this year with a record level of 1,273.07. Year to date it is down -7.63 percent and over the last year it has gained 5.47 percent.
Gold closed the quarter at a price per ounce of $1,254.20. Year to date it has dropped by -4.94 percent and it has lost -1.07 percent over the last year.
Oil has been rising lately and the gain in the price of crude oil has affected the stocks in the Energy sector. Crude oil closed the quarter at a price of $74.25 per barrel. It has gained 25.53 percent year to date and is up 62.30 percent over the last year. You've probably noticed the price increase when you go to the gas station to fill up. Gasoline has gotten expensive lately.
Kenneth Roberts is a Truckee-based Registered Investment Advisor. Information is at his blog at http://www.sellacalloption.com or 775-657-8065. The mention of securities should not be considered an offer to sell or solicitation to buy investments mentioned. Consult your investment professional to understand the risks and/or how the purchase or sale of these investments may be implemented to meet your investment goals. Past performance is no guarantee of future results.