Click HERE to read a special fed commentary by Ladenburg Thalmann talking about the comments and press release from the Federal Open Market Committee (FOMC) on June 19, 2013.
• S&P 500 rallied 0.91% for the week to end June with a 1.3% loss, its first monthly loss since October.
• Real GDP growth for Q1 was revised to a mere 1.8% annual pace.
• For the first time in 3 weeks, the US market rallied as “tapering” fears of the Feds monetary easing policy settled.
• Personal Income increased 0.5% in May, beating the consensus expected gain of 0.2%.
• New Orders for durable goods increased 3.6% in May.
• US initial jobless claims came in at 346,000 for the week.
• Eight out of ten economic sectors had positive performance for the week, with materials (-1.30%) and information technology (-0.16%) as the only negative performers.
• MLP’s added 4.7% for the year bringing the YTD return to +22.1%, making them one of the best performing asset classes.
• For the week ending 6/28/13, the S&P 500 gained 0.87% closing at 1606.28. The MSCI EAFE Index gained 0.81% closing at 1638.94 and the MSCI EM Index rose 4.42% to end the week at 940.33.
