The major US indexes finished as follows (1 trading day left): DOW +7%, Nasdaq +10%, S&P 500 +4%, and the Russell 2000 -3%, the only loser in the group. The Homebuilders and Financials were were probably the worst performing sectors.
The 10 year Note and the 30 year Bond ended higher, with corresponding lower interest rates.
The US Dollar lost a lot of ground this year, helping to drive up commodity prices. Oil and Gold were up significantly, along with Corn, Wheat, and Soybeans.
Foreign markets fared better than the the US markets, with China, India, and Brazil leading the way -notice that we are at the bottom of the pile! (adjust slider to see the full year).
This was a slow week in the markets due to the Christmas holiday. Lets see what 2008 brings. My predictions -I think we will see more inflation, higher oil and food prices, and another rocky year in the markets as the 'debt' bubble begins to unfold -individuals are mired in debt, and the country is mired in debt. Foreclosures continue to rise, and now credit card defaults are increasing as well. Also, we may see a further drop in the US Dollar, and another good year for Gold -oh, and maybe a recession too.
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News Stories:
Chinese stock market wraps up stunning, volatile year.
Bankruptcies likely to rise again in 2008
American's credit card defaults seen surging
2008 ETF Predictions
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