The Markets
Investors celebrated a month in which several indexes posted their best January performance in three decades. A strong labor market, low inflation, and a more “patient” Federal Reserve Board all sent encouraging messages to investors who were hungry for good news after last December’s precipitous plunge. The Russell 2000 led the charge, closing the month more than 11% higher than its 2018 close, followed by a nearly 10% gain in the Nasdaq, while the S&P 500, Dow, and Global Dow all topped 7%.
By the close of trading on January 31, the price of crude oil (WTI) was $53.95 per barrel, up from the December 31 price of $45.81 per barrel. The national average retail regular gasoline price was $2.256 per gallon on January 28, down slightly from the December 31 selling price of $2.266 and $0.351 lower than a year ago. The price of gold rose by the end of January, reaching $1,(512) 271-9421 by close of business on the 31st, up from $1,(512) 271-9421 at the end of December.
| Market/Index | 2018 Close | Prior Month | As of January 31 | Month Change | YTD Change |
|---|---|---|---|---|---|
| DJIA | 23327.46 | 23327.46 | 24999.67 | 7.17% | 7.17% |
| NASDAQ | 6635.28 | 6635.28 | 7281.74 | 9.74% | 9.74% |
| S&P 500 | 2506.85 | 2506.85 | 2704.10 | 7.87% | 7.87% |
| Russell 2000 | 1348.56 | 1348.56 | 1499.42 | 11.19% | 11.19% |
| Global Dow | 2736.74 | 2736.74 | 2945.73 | 7.64% | 7.64% |
| Fed. Funds | 2.25%-2.50% | 2.25%-2.50% | 2.25%-2.50% | 0 bps | 0 bps |
| 10-year Treasuries | 2.68% | 2.68% | 2.63% | -5 bps | -5 bps |
Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.
