USMarketView

May 16, 2008

The S&P500 moved up .13 percent today while the DJIA and the NASDAQ fell slightly, making this the third time in 2008, and only the 19^th occurrence since January 2000, for this, one up and two down, pattern.

Nevertheless, the current week was a good one for all three indices. Both the NASDAQ and the S&P500 closed lower only once this week; the DJIA was not far behind, scoring three gains in the past five days.

The NASDAQ gained 3.41 percent for the week; the S&P500 increased 2.67 percent and the DJIA moved up by 1.89 percent.

Moreover, this was NASDAQ’s first end of week close higher than on the initial Friday of 2008. Now all three indices have passed this benchmark, with the DJIA achieving it four weeks ago and the S&P500 on the first Friday of this month.

DJIA -.05 percent

NASDAQ -.19 percent

S&P500 .13 percent

This entry was posted on Friday, May 16th, 2008 at 12 042008000000Fri, 16 May 2008 16:29:16 +0000 and is filed under Market Report. 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.