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S&P 500 Back at Pre-Lehman Bankruptcy Levels

The rally continues…new highs for the S&P 500, with the index now up 6.3% this month. That gives the S&P its best December since 1991.

With today’s gain, the S&P 500 is now fractionally up from its close on Friday, September 12, 2008—the last close prior to Lehman Brothers’ bankruptcy (1,251.70). Recall, the markets gyrated in the week after Lehman filed for bankruptcy, but on one day that week—with a close at 1,255.08 on Friday, September 19, 2008 – the S&P actually closed above its pre-Lehman bankruptcy close.

Two numbers to watch today…If the S&P 500 manages to close above 1,255.08 today, it will have its highest close since Lehman’s bankruptcy. Regardless, as long as it closes up more than 4.62 points today (to 1,251.70), the S&P will be back at in the black since Lehman’s filed for bankruptcy for the first time in over 2 years.

Here’s how the major sectors and indices have performed since Lehman’s bankruptcy in September 2008.

Since Lehman Bankruptcy

Dow Industrials +0.95%

Dow Transports +0.49%

Dow Utilities -12.05%

S&P 500 +0.20%

Nasdaq Comp. +17.91%

Russell 2000 +9.63%

S&P 500 Sectors

Consumer Discretionary +21.96%

Technology +20.43%

Materials +1.83%

Consumer Staples +0.81%

Telecom -0.66%

Industrials -0.70%

Healthcare -2.02%

Energy -3.88%

Utilities -13.39%

Financials -24.77%

Other Major Sector Indices

Gold Stocks +95.24%

Airlines +89.92%

Biotech +60.01%

Semis +28.41%

Retailers +26.13%

Cyclicals +19.68%

Healthcare +14.31%

Consumer +7.16%

Natural Gas Stocks +6.73%

Drugs +0.50%

Defense -1.68%

Oil Stocks -4.94%

Oil Services -8.58%

Brokers -9.65%

REITs -15.24%

Housing -20.46%

Insurance -22.64%

Banks -27.83%

As for the Dow components…13 of the 30 components are still posting losses since Lehman’s bankruptcy.

Since Lehman Bankruptcy

CAT +44.43%

TRV +23.46%

MMM +23.48%

UTX +22.88%

HD +22.40%

IBM +22.36%

MCD +19.86%

KO +19.81%

DIS +12.12%

AXP +11.37%

VZ +8.13%

DD +7.72%

MRK +7.35%

CVX +6.28%

INTC +5.23%

MSFT +1.16%

BA +1.02%

JPM -0.05%

KFT -4.45%

XOM -6.53%

PFE -6.92%

T -7.68%

HPQ -10.39%

PG -11.34%

JNJ -11.62%

WMT -13.91%

CSCO -16.54%

GE -33.01%

AA -47.72%

BAC -61.96%

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