Week ending Jan. 5: Markets get off to shaky start in 2007.
A surprising increase in new jobs in December, coupled with concerns about slowing economic growth, set markets off to a shaky start in 2007. Furthermore, plunging oil prices--while good news for consumers and most businesses--took a heavy toll on big oil stocks. The Morningstar US Market Index closed down 0.6% for the week ending Jan. 5.
The Morningstar Large Growth Index was the lone standout among the nine Morningstar style indexes with a 0.3% gain last week. As a group, small-cap stocks took the biggest hit, with the Morningstar Small Value Index dropping 1.7%, making it the worst performer.
Technology bellwether Intel
Small caps felt the impact of last week's lower commodity prices. Morningstar Small Value Index holdings Whiting Petroleum
Also, Morningstar announces plans to release a new family of fixed-income indexes.