USMarketView

June 9, 2008 PM Post

The NASDAQ, in the red all day, closed off just -.61 percent; whereas the DJIA and the S&P500 managed small advances, after Friday’s sell off.

Today was the seventh occasion, in 2008, for these three indices to have this type of divergent day: the DJIA and the S&P500 rising while the NASDAQ declined. Altogether, since the beginning of 2000, these have totaled 135.

The median changes for these days tend to be small, and they are quite similar in magnitude before and after 2008. The NASDAQ median decline over the seven incidents of two indices up and one index down this year, before today, is -.26 percent. The median gain, on those days, for both the DJIA and S&P500 is .32 percent.

As for these adjustments, after Friday’s three percent decline, that occurred today note that they are quite modest compared to the historical ranges described in this morning’s post.

DJIA .58 percent

NASDAQ -.61 percent

S&P500 .08 percent

This entry was posted on Monday, June 9th, 2008 at 12 032008000000Mon, 09 Jun 2008 15:54:52 +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.