March 8, 2012 Best Day since Mid-February
Scoring their best daily increase in 14 trading days, these indices finally, if barely, returned to their values of February 16.
Moreover, in considering recovery to previous highs, and comparing current index prices with their tops of October 2007, we focus on significant differences. Clearly the best performer of these three is the NASDAQ: now at 106 percent of that high. The DJIA and the S&P500 so far have failed to reach parity with their previous highs. They remain at 91 percent and 87 percent of those closes.
The NASDAQ of course has reached, and bettered, that parity for some time, not only now but also months ago, before sliding back with the rest of the market last year.
Look for our future posts to focus and investigate these performance distinctions, and their implications for portfolio choices.
DJIA .55 percent
NASDAQ 1.18 percent
S&P500 .98 percent