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The Markets

With no Federal Open Market Committee meeting and little news to jar the markets, the lazy, hazy days of August seemed to lull investors into a state of lethargy.  Trading was light and volatility, limited.  Despite the fact that several of the indexes tracked here posted new highs during the month, weekly changes shifted up and down within a narrow range.  The month's end saw mixed results, with large caps losing whatever momentum they had gained, while technology, small caps, and international stocks posted respectable monthly gains.

Long-term bond yields also showed limited movement over the month, ending 13 basis points higher than where they started.  The price of gold (COMEX) slumped, selling at $1,312.20 -- about $46 lower than July's closing price of $1,357.90.

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Market Month August