Thursday, May 31, 2007

S&P500 Breaks 7-Year Record, Not Yet for NASDAQ

WSJ: "The S&P 500 rallied to a new record close on Wednesday, a long seven years since its prior record close of 1527.46, on March 24, 2000 (see chart above).

To put that lag in perspective, the last time the index hit a record, Bill Clinton was still president, the iPod didn't exist and "American Beauty" was two days away from winning Best Picture at the Academy Awards."

The Nasdaq Composite Index closed at 2592.59, its highest close since Feb. 7, 2001. It is up 7.3% on the year, but is still a long way (2,456 points) from its record close of 5048.62, set on March 10, 2000 (see chart above). In percentage terms, the NASDAQ Index would still have to increase by almost 95% to break the 2000 record close.


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