Stock Market Briefing: S&P 500 and DJIA 1921-Now ember 29, 2017 Dr. Edward Yardeni 516-972-7683 eyardeni@ Joe Abbott 732-497-5306 jabbott@ Mali Quintana 480-664-1333 aquintana@ Please visit our sites at www. blog. thinking outside the box
Table Of Contents Table Of Contents Dow & S&P 500 1-3 ember 29, 2017 / Stock Market Briefing: S&P 500 and DJIA 1921-Now www.
28040 21040 14040 Figure 1. DOW JONES INDUSTRIALS AVERAGE (ratio scale) Dow & S&P 500 28040 21040 14040 7040 7040 40 1921 1926 1931 1936 1941 1946 1951 1956 1961 1966 1971 1976 1981 1986 1991 1996 2001 2006 2011 2016 2021 2026 40 Source: The Wall Street Journal. 3504 3004 2504 2004 1504 Figure 2. S&P 500 INDEX (ratio scale) 3504 3004 2504 2004 1504 1004 1004 504 504 4 1921 1926 1931 1936 1941 1946 1951 1956 1961 1966 1971 1976 1981 1986 1991 1996 2001 2006 2011 2016 2021 2026 4 Source: Standard & Poor s Corporation. Page 1 / ember 29, 2017 / Stock Market Briefing: S&P 500 and DJIA 1921-Now www.
40040 30040 20040 Figure 3. Dow & S&P 500 DOW JONES INDUSTRIALS AVERAGE* WITH 4%- CAGR PATHS (base period price 1917 = 74.38, ratio scale) 40040 30040 20040 10040 Latest (24719) 5% 10040 4% 40 1917 1922 1927 1932 1937 1942 1947 1952 1957 1962 1967 1972 1977 1982 1987 1992 1997 2002 2007 2012 2017 2022 40 * Compounded monthly using base value. Source: The Wall Street Journal. 7519 6019 4519 Figure 4. DOW JONES INDUSTRIALS* AVERAGE 2%- CAGR PATHS (base period price 2016 = 19,763, ratio scale divided by 1000) 7519 6019 4519 3019 1519 5% 3019 1519 4% 3% 2% 19 2017 2022 2027 2032 2037 2042 2047 2052 2057 2062 2067 2072 2077 2082 2087 2092 2097 2102 2107 2112 2117 19 * Compounded monthly using base value. Source: Yardeni Research Inc. Page 2 / ember 29, 2017 / Stock Market Briefing: S&P 500 and DJIA 1921-Now www.
45040 36040 27040 18040 Figure 5. Dow & S&P 500 DOW JONES INDUSTRIALS AVERAGE* WITH 2%- CAGR PATHS (base period price 1920 = 75.09, ratio scale) 45040 36040 27040 18040 9040 DJIA Index (24719) Index/CPI (1870) 9040 5% 4% 3% 2% 40 1920 1925 1930 1935 1940 1945 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 40 * Compounded monthly using base value. Source: Bureau of Labor Statistics and The Wall Street Journal. 200009 160009 120009 80009 40009 Figure 6. S&P 500 TOTAL RETURN INDEX WITH -11% CAGR PATHS (base period 1935 = 14.96, ratio scale) S&P 500 Total Return Index* (51253) Total Return Index/CPI** (2866) 11% 10% 9% Q3 200009 160009 120009 80009 40009 8% 7% Q3 9 1935 1940 1945 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 9 * Includes reinvested dividends. ** Using last month of quarter CPI. Compounded monthly using base value. Source: Standard & Poor s. Page 3 / ember 29, 2017 / Stock Market Briefing: S&P 500 and DJIA 1921-Now www.
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