The Week in Review: 6/24/07 to 6/30/07
Let’s recap what happened in the stock market last week:
Last week marked the end of the 1st half of 2007.
The Dow finished the second quarter of the year up 8.5%
The S&P 500 - up 5.8%
The NASDAQ - up 7.5%
Interesting to note, the Dow and the S&P 500 finished this past week roughly around the same place that they started the week (see the charts above that I copied from Yahoo! Finance)
About those economic indicators…
Housing, both existing home sales and new construction, continued to disappoint by posting lower than expected numbers.
Surprises… the market, i.e. investors, HATE surprises!!!
There was a bomb scare in London when authorities found a Mercedes Benz parked in a busy part of town (the articles that I read noted a lot of night clubs in the area) packed with explosives and nails… a reminder that terrorism has not been eliminated and even if it had been wiped out, there are still some crazy people out there.
Final thoughts on last week…
I think some hedge fund managers, mutual fund/pension/portfolio managers, and yes even some individual investors and day traders did some profit-taking this past week to lock-in (realize) gains that they made during the first two quarters of 2007. I had speculated that this might happen in my blog last week titled “The Week Ahead”.
Here’s to a successful second half of 2007, regardless what your investing strategy is… I hope your investments do well as we continue on this journey together. As always, I welcome your comments and feedback…