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Monday's Rally and the Major Indexes
In today's rally, the Dow, S&P and Nasdaq Composite simultaneously closed up 6.5% or greater for the first time since November 13, 2008, in an event that has only happened 4 times before, 3 times in 2008 and once in 1987. Here are some key dates for when all three major indexes concurrently closed above 6.5% or more.
On Monday, the Dow [.DJIA
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] closed at 7775.86, up 497.48 points or 6.84%, the S&P [.SPX
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]closed at 882.92, up 54.38 points or 7.08%, and Nasdaq Composite [COMP
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]ended at 1555.77, up 98.5 points or 6.76%.
-The last time Dow, S&P, and Nasdaq Composite concurrently closed up 6.5% or more:
DOW:
S&P:
Nasdaq:
Leading the rally today on the Dow were IBM [IBM
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], JPMorgan Chase [JPM
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], Chevron [CVX
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], and Exxon Mobil. Furthermore, leading the S&P to the upside were predominantly financials such as Ambac Financial [ABK
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] XL Capital[XL
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] and Lincoln National [LNC
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].
Moreover, with today’s big rally, it looks like all three major indexes have extended their gains for the month, as the DOW is tracking its first monthly gain since 8/29/2008. S&P and Nasdaq are tracking their first monthly gain since 12/31/08.
-The DOW, S&P, and Nasdaq are currently up 10.1%, 11.95%, 12.91% month to date, as of March 23, with each index currently tracking their best monthly gain since:
-10/31/2002 for the Dow when it closed up 10.61%
-1/30/1987 for the S&P when it closed up 13.18%
-10/31/2002 for the Nasdaq Composite when it closed up 13.45%
-The Nasdaq Composite is definitely feeling the March madness as this index is marching towards its best March ever. March on average has yielded positive returns over 60% of the time for all three indexes. See below for March stats:
Dow since 1897:
-On average the Dow has gained 3.7% during March, 60% of the time
-On average the Dow has loss -3.85% during March Gras, 40% of the time
-The biggest March gain was on 1920, when the Dow finished up 12.76%
-The biggest March loss was on 1938, when the Dow finished down -23.67%
S&P since 1928:
-On average the S&P has gained 3.19% during March, 60% of the time
-On average the S&P has loss -3.98% during March, 40% of the time
-The biggest March gain was on 1928, when the S&P finished up 11.7%
-The biggest March loss was on 1938, when the S&P finished down -25.7%
Nasdaq Composite since 1971:
-On average the Nasdaq has gained 3.26% during March, 63% of the time
-On average the Nasdaq has loss -4.7% during March, 37% of the time
-The biggest March gain was on 1999, when the Nasdaq finished up 7.58%
-The biggest March loss was on 1980, when the Nasdaq finished down -17.10%
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Data is a real-time snapshot *Data is delayed at least 15 minutes
