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Unformatted text preview: As of Friday, October 2, 2009, the S&P500 index stood at 1025.21. The benchmark gauge of U.S. stocks climbed for a seventh straight month in September. This 34% two- quarter advance (with ~15% in Q3) marks the biggest back-to-back quarterly rally for the Standard & Poor’s 500 Index since 1975. The seven-month rally has pushed the S&P 500 up 56 percent from a 12-year low in March and sent its price-to-earnings valuations this month to the highest levels since 2004. All 10 of the main industry groups in the S&P 500 advanced in the third quarter, led by a 25 percent rally in financial shares and 21 percent gains in industrial companies and commodity producers. Analysts expect profits in the S&P 500 to drop 22 percent on average in the third quarter before rebounding 63 percent in the final three months of the year, according to estimates compiled by Bloomberg. 1 The following graph shows its movement in the last year....
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This document was uploaded on 10/27/2009.
- Spring '09