Outline-3.1 - Ec 173A FINANCIAL MARKETS LECTURE OUTLINE...

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Ec 173A – FINANCIAL MARKETS L ECTURE OUTLINE Foster, UCSD September 8, 2010 TOPIC 3.1 – FINANCIAL SECURITIES I A. Equity Securities and Stock Market Indexes 1. Introduction to Equity Securities: a) Common and preferred stock. b) Bankruptcy and risk. c) Common stockholders. d) Reading stock listings. 2. Introduction to Stock Market Indexes: a) Stock market indexes are average prices of groups of stocks. b) The Wall Street Journal . Major U.S. Stock-Market Indexes (6/17/08) 52-W EEK % C HG C LOSE N ET CHG % CHG H IGH L OW YTD Dow Jones 30 Industrials 20 Transportation 15 Utilities 1226 9 5159 523 38.27 10.61 0.75 0.3 1 0.21 0.1 4 1416 4 5492 552 1174 0 4140 473 7.5 12.9 1.7 Nasdaq Stock Market Nasdaq Composite Nasdaq 100 2474 1984 20.28 1875 0.83 0.95 2859 2238 2169 1673 6.7 4.8 Standard & Poor’s 500 Index MidCap 400 1360 872 0.11 7.07 0.01 0.82 1565 926 1273 744 7.4 1.7 Other Indexes Russell 2000 Wilshire 5000 NYSE Composite Value Line 740 1391 7 9087 406 7.13 28.03 24.65 2.49 0.97 0.20 0.27 0.62 855 1580 6 1031 1 643 1282 2 8489 372 3.3 6.1 6.7 7.8 c) Dividends and cash flows. d) Index funds. 3. The Dow Jones Indexes: a) The Dow-Jones Averages. BIG 1500 STOCKS ( WSJ , 6/17/ 08) N ET C HG S TOCK S YM C LOS E NYSE Alcoa Olin AA OLN 39.7 0 25.7 4 0.2 4 1.2 0 NASDAQ Invitroge n IVG N 38.3 0 0.0 5 DJ-3 Mon . Tues . (split ) Tues. (w/o split) Wed . Stoc k ABC KLM ZZT $ 3 $40 $14 $ 3 $21 $15 $ 3 $42 $15 $ 2 $19 $13 Sum 57 39 60 34 Avg. 19.0 0 13.00 20.00 11.3 3 d = 3 1.95 1.95 DJ-3 19.0 0 20.00 17.4 4 = = m i it t P d I 1 1
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Ec 173A FINANCIAL SECURITIES I OUTLINE p. 2 of 5 b) Price-weighted indexes.
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