Even though last week ended up on the week and investors were slightly consoled by another cut in rates by the US (and around the world), we clock another terrible month of returns in the market worldwide this month. Most major indices around the world experienced large moves to the downside (commodities and specifically Crude experienced the worst month since trading on the NYMEX in 1983).

• Dow Jones Industrial Index: -14.1% (biggest drop since October 1987)
• S&P 500 Index: -16.9% 
• Reuters/Jeffries CRB Index: -22.3% (worst monthly decline since the Index started in 1956)
• Crude Futures: -32.6% 
• Gold futures: -18.5% 
• MSCI Word Index: -19.1% 
• MSCI Emerging Markets Index: -27.1%
• US Dollar Index: +7.8% 

The Economic reports released last week didn’t bring encouraging news either. The real GDP fell by 0.3% in the third quarter, consumer spending, down 3.1% (translate higher gas prices and less jobs). Consumer Confidence was down (38) as well.

With the US Presidential Election looming tomorrow the market could get a bounce – Or Not. 

What to expect in the week ahead:

Monday:

• ISM – Manufacturing
• Construction Spending

Tuesday

• US Presidential Election
• Factory Orders

This entry was posted on Monday, November 3rd, 2008 at 5:24 pm and is filed under Reports, Stocks, United States, World. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.