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Market Recap and a Look Ahead (week ended 6/15)

A nervous stock market managed to post a modest gain for the week as the financial world awaits the results of Sunday’s election in Greece.  The S&P 500 Index closed at 1,342 up 1.3% for the week.

Randall Forsyth of Barron’s noted that “stocks took off Thursday afternoon in the U.S. in reaction to various reports that the world’s central banks stood ready to take action if the result’s of Sunday’s Greek elections sent global markets into yet another nosedive.”

The benchmark Ten Year Treasury closed the week with a yield of 1.58%, which was down from 1.63% of the previous week.

Next Week’s Potential Market Moving Events:

Monday: Fallout for good or bad from the previous day’s Greek elections will set the tone for the remainder of the week, if not year.

Wednesday: Fed (FOMC) two-day meeting wraps up.  In addition to a potential reaction to the European Crisis, some are hoping for an extension of the Fed’s operation twist program which is set to terminate before the end of June.


ETF Sector Performance
Week Ended June 15, 2012
Weekly Q1 2QDT YTD
SPY S&P500 SPDR 1.3% 12.7% -4.2% 7.9%
XLF Financials 1.9% 21.9% -8.8% 11.2%
XLU Utilities 1.2% -2.6% 6.4% 3.6%
XLB Materials 0.4% 10.8% -6.1% 4.0%
XLP Consumer Staples 1.4% 5.4% 1.4% 6.9%
XLY Consumer Discretionary 0.4% 15.9% -3.4% 12.0%
XLV Health Care 1.8% 9.0% -0.9% 8.0%
XLI Industrial 0.9% 11.4% -6.1% 4.5%
IYW Technology 0.1% 21.9% -9.2% 10.7%
IYZ Telecom 2.8% 6.2% 0.0% 6.2%
AGG Aggregate Bond 0.4% 0.1% 2.0% 2.2%
TIP TIPS Bond 0.5% 0.8% 4.0% 4.9%
LQD Inv. Grade Corp Bond 0.3% 2.3% 2.1% 4.5%
GLD Gold 2.0% 12.0% -2.6% 3.8%
Source: Yahoo Finance

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DISCLAIMER: Nothing in this article should  be construed as a personal recommendation or investment advice.  Nor should anything in this article be construed as an offer, or a solicitation of an offer, to sell or buy any particular investment security.   Investors should conduct their own due diligence and seek the advice of a financial and/or investment  professional before making any investment decisions.


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