S&P 500
S&P 500 | |
---|---|
base data | |
Country | United States |
Stock exchange | New York Stock Exchange , NASDAQ |
ISIN | US78378X1072 |
WKN | A0AET0 |
symbol | S500 |
RIC | ^ SPX |
Bloomberg code | SPX <INDEX> |
category | Stock index |
Type | Price index |
family | Standard & Poor's |
The S&P 500 ( Standard & Poor's 500 ) is a stock index that includes the stocks of 500 of the largest publicly traded US companies. The S&P 500 is weighted according to market capitalization and is one of the most highly regarded stock indices in the world.
Versions
The S&P 500 is calculated in different versions, whereby the price index is almost exclusively taken into account in the media. The classic S&P 500 does not contain any dividend payments or subscription rights proceeds .
However, there is also the so-called S&P 500 Total Return Index . In addition to the prices, the dividend payments are also included in the calculation of the index. It is therefore referred to as a performance index, i.e. a share index that, in addition to the increase in the value of the shares, also tracks the increase in capital through dividends (dividends are reinvested). The index started on December 31, 1987 with a base value of 247.08 points. Linked to the S&P 500 TR Index is the S&P 500 Short Index , which shows the corresponding performance inversely, i.e. increases in the event of falling prices.
Another index is the S&P 500 Net Total Return Index . It shows the rate plus the net cash dividend. The net cash dividend corresponds to the dividend less 30 percent withholding tax .
calculation
The index is based on 500 selected quotations from stock corporations that are traded on the New York Stock Exchange (NYSE), the NYSE Amex (formerly the American Stock Exchange) and the NASDAQ . The S&P 500 reflects their performance and is therefore an indicator of the development of the entire US stock market. Compared to the Dow Jones Industrial Average, it is the more modern index and represents around 75 percent of the US market capitalization.
The index is calculated using the value index formula, which indicates the total change in value as a measure. The S&P 500 is not adjusted for dividend payments . Corporate actions such as stock splits have no (distorting) influence on the index. The weighting is based on the market capitalization of the listed companies. The rating agency Standard & Poor’s decides on inclusion in the index . The calculation is updated every second during NYSE trading hours from 9:30 am to 4:00 pm local time (3:30 pm to 10:00 pm CET). The index futures Forex trading on the S & P 500 began on April 21, 1982 at the Chicago Mercantile Exchange (CME). In January 1983, trading in index options began, which are among the world's best-selling.
The S&P 500 serves as the basis for the CBOE Volatility Index (VIX), which is calculated by the Chicago Board Options Exchange (CBOE). It was first published in 1993 and counted back to 1986. In the first ten years, the calculation of the VIX was based on the S&P 100 , not until the changeover in 2003 to the S&P 500. The volatility index VIX measures the short-term fluctuation intensity expected by the market using option prices on the S&P 500. There is one between the VIX and S&P 500 opposite correlation . If the volatility of the VIX rises, the S&P 500 falls. If the volatility of the VIX rises, the S&P 500 rises.
history
20th century
In 1923 Standard Statistics published a weekly index of 233 stocks. In the following years this was constantly expanded. In the year Standard Statistics and Poor's Publishing merged in 1941, the index consisted of 416 companies. The first daily published index appeared in 1926 with 90 stocks. On March 4, 1957, Standard & Poor's founded the S&P 500 and calculated it back to 1928 (daily rates), to 1918 (weekly rates) and to 1789 (monthly rates). The years 1941 to 1943 were used as the base years for the calculation with a starting value of ten index points.
The S&P 500 recorded the mathematically largest percentage increase in one day on March 15, 1933 with 16.61 percent. Note that it was the first day of trading on the New York Stock Exchange since March 3, 1933. Reason for the trading halt had several bank holidays (National Banking Holidays), because of the inauguration of Franklin D. Roosevelt as the 32nd President of the United States of America adopted.
The largest one-day percentage decline occurred on Black Monday , October 19, 1987, when the S&P 500 fell 20.47 percent. The stock market crash quickly spread to all major international trading venues. One year after “Black Monday”, on October 20, 1988, the index closed again at 282.88 points, above its level before the stock market crash.
On March 24, 1995, the S&P 500 finished trading above the 500 point limit for the first time. In the following years the index marked further record levels. On February 2, 1998, the index closed above the 1,000 point mark for the first time and on March 22, 2000 for the first time above the 1,500 point mark. On March 24, 2000, the S&P 500 marked a record with a closing level of 1,527.46 points, which remained its all-time high for seven years.
21st century
After the speculative bubble burst in the technology sector ( dot-com bubble ), the index fell to a low of 776.76 points by October 9, 2002. That was a decrease of 49.1 percent since March 2000. October 9, 2002 means the end of the downward slide. From autumn 2002, the S&P 500 began to rise again. On May 3, 2007, the index passed the 1,500 point mark for the first time since September 7, 2000, with a closing level of 1,502.39 points. The high of March 2000 fell on May 30, 2007, when the index finished trading at 1,530.23 points. On October 9, 2007, the S&P 500 marked an all-time high with a closing level of 1,565.15 points.
As of July 19, 2002, only US companies can be included in the S&P 500. Before that, foreign companies that were listed on a US stock exchange were also included in the index. Recent overseas companies in the S&P 500 include Royal Dutch Petroleum (included since 1957), Unilever (included since 1961), Nortel Networks , Alcan , Barrick Gold , Placer Dome and Inco . In 2010, Standard & Poor’s changed the criteria for inclusion in the index again, so foreign companies listed on a US stock exchange that report their business figures to the United States Securities and Exchange Commission can again be included in the index. They also have to report their business figures in US dollars and conduct a large part of their business activities in the USA. This ensured that some companies moved abroad from the US were re-included in the index.
In the course of the international financial crisis , which had its origin in the US real estate crisis in the summer of 2007, the S&P 500 began to decline again. On October 7, 2008, it closed with 996.23 points for the first time since September 30, 2003 below the limit of 1,000 points. In the course of the crisis, volatility exceeded the high of 1987 and, according to a study published by Goldman Sachs in November 2008, was 66 percent in a three-month comparison, only two points below the previous high in 1929. The lowest level since September 12, 1996 the index fell on March 9, 2009 when it ended trading at 676.53 points. Since the all-time high of October 9, 2007, this corresponds to a decrease of 56.8 percent.
March 9, 2009 marks the turning point of the downward trend. As of spring 2009, the S&P 500 was on the way up again. By April 29, 2011 it rose by 101.6 percent to a closing level of 1,363.61 points. The weakening of the global economy and the worsening of the euro crisis led to a slump in the share index. On October 3, 2011, the S&P 500 ended trading at 1,099.23 points. The loss since the peak on April 29, 2011 is 19.4 percent.
The announcement of new bond purchase programs by the European Central Bank and the US Federal Reserve , which are basically unlimited, led to a recovery in prices on the stock market. The monetary stimulus played a bigger role in the price formation than the global economic slowdown and the state of the companies. On January 10, 2013, the index closed at 1,472.12 points, 33.9 percent higher than on October 3, 2011.
performance
The S&P 500 was first published in 1957 and counted back to 1789. In the 19th and 20th centuries he achieved a different performance. Between January 1, 1801 and December 31, 1900, the index grew by 150.7 percent (average annual return: 0.9 percent) and between January 1, 1901 and December 31, 2000 by 19,118 percent (average annual return: 5 , 4 percent).
The performance in the first half of the 20th century was 2.2 percent per year, hardly higher than in the entire 19th century. The reasons are the effects of the Great Depression and the Second World War , which led to a twenty-year bear market (1929–1949). In the second half of the 20th century, the average annual return of 8.7 percent was well above the performance from 1801 to 1950.
The stagnation of the S&P 500 in the 1970s and the rapid development in the 1980s and 1990s can be seen in its doubling rate. It took more than 17 years for the index to double from 100 points in 1968 to 200 points in 1985. The doubling from 200 to 400 points in 1991 took six years. It took the S&P 500 a little more than five years to double from 400 to 800 points in 1997. In the following three years the index rose by a further 727 points to 1,527 points.
At the beginning of the 21st century, the stock index slowed down again. Between January 1, 2001 and December 31, 2012, the S&P 500 rose 8.0 percent (average annual return: 0.7 percent). Overall, the index rose by 51,951 percent from December 31, 1800 to December 31, 2012 based on the retrospective calculation. The average annual return is 3.0 percent.
The classic S&P 500 is a price index in which the dividends paid, which are cut off from the prices (dividend discount), are not included, unlike the DAX performance index . As a result, the S&P 500 is not suitable for a long-term assessment of performance, but unlike the DAX, it is suitable for a long-term view of the price development of the stocks included. A comparison of the performance with the German DAX share index is therefore only possible using the performance of the S&P 500 Total Return Index. Both indices started in 1987. The annual performance of the US index has since been better than that of the DAX.
The S&P 500 Total Return Index rose 913.6 percent between December 31, 1987 (247.08 points) and December 31, 2012 (2,504.44 points). The average annual return is 9.7 percent. In the same period, the DAX rose from 1,000.00 points to 7,612.39 points (661.2 percent). The average annual return is 8.5 percent.
In July 2012, the Federal Reserve Bank of New York published a study stating that US stock indices were 100 percent higher at the end of 2011 than they would have been without the intervention of the Fed in the free market. The FOMC (Federal Open Market Committee) of the US Federal Reserve meets eight times a year and announces its decisions in the Beige Book at 2:15 p.m. local time (8:15 p.m. CET) . The Fed has now adjusted the performance of the S&P 500 for the price gains and losses that were achieved on the day before the decision from 8:00 p.m. CET to the day of the decision at 8:00 p.m. CET. If those 8 days per year, i.e. 144 days between 1994 and 2011, are factored out, the S&P 500 would not be at 1,258 points at the end of 2011, but only at around 600 points. The US stock indices ( Dow Jones , S&P 500, Nasdaq Composite ) and the major international indices ( FTSE 100 , DAX, CAC 40 , SMI , IBEX 35 , TSE Index ) tended to increase prior to announcing a decision regarding US monetary policy climb. Without the intervention of the US Federal Reserve over a period of almost two decades, global stock markets would be trading significantly lower at the end of 2011.
P / E development
The price-earnings ratio (P / E) of the S&P 500 was calculated back to 1871 by the Cowles Foundation , an economic research institute at Yale University . Since 1926 (annually) and since 1936 (quarterly), Standard & Poor's has published information on so-called "Reported Earnings" (profits after taxes, interest and depreciation according to US GAAP ). Since 1988, the "operating earnings" (profits from the operative business ) are given.
From 1871 to 2011, the average P / E ratio of the S&P 500 based on reported earnings over the past twelve months (“Reported Earnings”) was 16.41. From 1871 to 1990, the long-term P / E average was 13.46 and from 1991 to 2011 it was 26.42.
The PER was below 10 for the last time in June 1984. Between the beginning of 1936 and the end of 2011, the results for 304 quarters were published. The PER was below 10 in 61 quarters and above 10 to below 20 in 184 quarters. The PER was over 20 in 59 quarters.
The highest P / E ratio was determined in June 2009 at 122.41, the lowest in June 1949 at 5.90. If the largest swings (so-called fat tails) of 10 percent are removed, the average PER is calculated at 15.30, the maximum with 24.92 and the minimum with 8.57. If 20 percent of the largest deflections are removed, the average would be 15.21 and the maximum 19.57, the minimum 10.03.
statistics
Highs
The overview shows the all-time highs of the S&P 500 (as of July 31, 2020) as a price index (excluding dividends).
index | Points | date |
---|---|---|
Price index in the course of trading | 3,393.52 | Wednesday 19th February 2020 |
Price index on a closing price basis | 3,378.83 | Wednesday 19th February 2020 |
Milestones
The table shows the milestones of the S&P 500 calculated back to 1928.
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The best days
The largest percentage increase in a day occurred on March 15, 1933, when the S&P 500 rose 16.61 percent. Note that it was the first day of trading on the New York Stock Exchange since March 3, 1933. Reason for the trading halt had several bank holidays (National Banking Holidays), because of the inauguration of Franklin D. Roosevelt as the 32nd President of the United States of America adopted.
The table shows the best days of the S&P 500 calculated back to 1928.
rank | date | Final score in points |
Change in points |
Change in% |
---|---|---|---|---|
1 | 15th Mar 1933 | 6.81 | 0.97 | 16.61 |
2 | Oct. 30, 1929 | 22.99 | 2.56 | 12.53 |
3 | Oct 6, 1931 | 9.91 | 1.09 | 12.36 |
4th | 21 Sep 1932 | 8.52 | 0.90 | 11.81 |
5 | Oct 13, 2008 | 1,003.35 | 104.13 | 11.58 |
6th | Oct 28, 2008 | 940.51 | 91.59 | 10.79 |
7th | 5th Sep 1939 | 12.64 | 1.11 | 9.63 |
8th | April 20, 1933 | 7.82 | 0.68 | 9.52 |
9 | Oct 21, 1987 | 258.38 | 21.55 | 9.10 |
10 | Nov 14, 1929 | 19.24 | 1.58 | 8.95 |
11 | Aug 3, 1932 | 6.39 | 0.52 | 8.86 |
12 | Oct 8, 1931 | 10.62 | 0.84 | 8.59 |
13 | Feb 13, 1932 | 8.80 | 0.68 | 8.37 |
14th | Dec 18, 1931 | 8.36 | 0.64 | 8.29 |
15th | Feb 11, 1932 | 8.12 | 0.62 | 8.27 |
16 | July 24, 1933 | 10.50 | 0.79 | 8.14 |
17th | June 10, 1932 | 4.92 | 0.35 | 7.66 |
18th | June 3, 1931 | 13.12 | 0.92 | 7.54 |
19th | May 15, 1948 | 16.55 | 1.16 | 7.54 |
20th | Nov 10, 1932 | 7.44 | 0.52 | 7.51 |
21st | Oct. 20, 1937 | 11.93 | 0.83 | 7.48 |
22nd | June 19, 1933 | 10.68 | 0.72 | 7.23 |
23 | May 6, 1932 | 6.09 | 0.41 | 7.22 |
24 | April 19, 1933 | 7.14 | 0.48 | 7.21 |
25th | Aug 15, 1932 | 7.44 | 0.50 | 7.20 |
26th | Oct 11, 1932 | 6.88 | 0.46 | 7.17 |
27 | 23 Mar 2009 | 822.92 | 54.38 | 7.08 |
28 | Jan. 6, 1932 | 8.08 | 0.53 | 7.02 |
29 | Nov 13, 2008 | 911.29 | 58.99 | 6.92 |
30th | Oct 14, 1932 | 7.13 | 0.46 | 6.90 |
31 | Apr 9, 1938 | 10.27 | 0.65 | 6.76 |
32 | June 4, 1932 | 5.22 | 0.33 | 6.75 |
33 | 23 Sep 1931 | 11.52 | 0.72 | 6.67 |
34 | Nov 24, 2008 | 851.81 | 51.78 | 6.47 |
35 | Oct. 4, 1933 | 10.29 | 0.62 | 6.41 |
36 | Oct 25, 1937 | 12.00 | 0.72 | 6.38 |
37 | 10 Mar 2009 | 719.60 | 43.07 | 6.37 |
38 | Nov 21, 2008 | 800.03 | 47.59 | 6.32 |
39 | Apr 29, 1933 | 8.32 | 0.49 | 6.26 |
40 | Aug 6, 1932 | 7.22 | 0.42 | 6.18 |
41 | Nov 4, 1932 | 6.88 | 0.40 | 6.17 |
42 | June 20, 1931 | 14.02 | 0.80 | 6.05 |
43 | 22 Aug 1932 | 8.00 | 0.44 | 5.82 |
44 | Jan 15, 1934 | 10.64 | 0.58 | 5.77 |
45 | July 24, 2002 | 843.43 | 45.73 | 5.73 |
46 | Nov 7, 1940 | 11.39 | 0.60 | 5.56 |
47 | Sep 15 1929 | 20.30 | 1.06 | 5.51 |
48 | Aug 17, 1933 | 10.76 | 0.56 | 5.49 |
49 | June 2, 1932 | 4.64 | 0.24 | 5.45 |
50 | July 29, 2002 | 898.96 | 46.12 | 5.41 |
The worst days
The largest one-day percentage decline occurred on Black Monday , October 19, 1987, when the S&P 500 fell 20.47 percent. The stock market crash quickly spread to all major international trading venues. One year after “Black Monday”, on October 20, 1988, the index closed again at 282.88 points, above its level before the stock market crash.
The table shows the worst days of the S&P 500 counted back to 1928.
rank | date | Final score in points |
Change in points |
Change in% |
---|---|---|---|---|
1 | Oct 19, 1987 | 224.84 | −57.86 | −20.47 |
2 | Oct 28, 1929 | 22.74 | −3.20 | −12.34 |
3 | Oct. 29, 1929 | 20.43 | −2.31 | −10.16 |
4th | Nov 6, 1929 | 20.61 | −2.27 | −9.92 |
5 | Oct 18, 1937 | 10.76 | −1.10 | −9.27 |
6th | Oct 15, 2008 | 907.84 | −90.17 | −9.03 |
7th | Dec 1, 2008 | 816.21 | −80.03 | −8.93 |
8th | July 20, 1933 | 10.57 | −1.03 | −8.88 |
9 | 29 Sep 2008 | 1,106.39 | −106.62 | −8.79 |
10 | July 21, 1933 | 9.65 | −0.92 | −8.70 |
11 | Oct 26, 1987 | 227.67 | −20.55 | −8.28 |
12 | Oct 5, 1932 | 7.39 | −0.66 | −8.20 |
13 | Aug 12, 1932 | 7.00 | −0.61 | −8.02 |
14th | May 31, 1932 | 4.47 | −0.38 | −7.84 |
15th | July 26, 1934 | 8.36 | −0.71 | −7.83 |
16 | Oct 9, 2008 | 909.92 | -75.02 | −7.62 |
17th | May 14, 1940 | 10.28 | −0.83 | −7.47 |
18th | Sep 24 1931 | 10.68 | −0.84 | −7.29 |
19th | Sep 12 1932 | 8.15 | −0.63 | −7.18 |
20th | June 15, 1933 | 9.74 | −0.73 | −6.97 |
21st | Oct 27, 1997 | 876.99 | −64.65 | −6.87 |
22nd | Aug 31, 1998 | 957.28 | -69.86 | −6.80 |
23 | Oct 16, 1933 | 9.21 | −0.67 | −6.78 |
24 | Jan. 8, 1988 | 243.40 | −17.67 | −6.77 |
25th | 3rd Sep 1946 | 15.53 | −1.12 | −6.73 |
26th | Nov 20, 2008 | 752.44 | −54.14 | −6.71 |
27 | May 28, 1962 | 55.50 | −3.97 | −6.68 |
28 | Aug 8, 2011 | 1,119.46 | -79.92 | −6.66 |
29 | May 21, 1940 | 9.14 | −0.65 | −6.64 |
30th | 26 Sep 1955 | 42.61 | −3.02 | −6.62 |
31 | Nov 11, 1929 | 19.86 | −1.32 | −6.23 |
32 | 21 Sep 1933 | 10.03 | −0.66 | −6.17 |
33 | Oct 13, 1989 | 333.65 | −21.74 | −6.12 |
34 | Nov 19, 2008 | 806.58 | −52.54 | −6.12 |
35 | Oct 22, 2008 | 896.78 | −58.27 | −6.10 |
36 | Oct 23, 1929 | 26.60 | −1.67 | −5.91 |
37 | Oct 5, 1931 | 8.82 | −0.55 | −5.87 |
38 | May 13, 1940 | 11.11 | −0.69 | −5.85 |
39 | 29 Mar 1938 | 8.73 | −0.54 | −5.83 |
40 | Apr 14, 2000 | 1,356.56 | −83.95 | −5.83 |
41 | Nov 19, 1937 | 10.51 | −0.65 | −5.82 |
42 | June 8, 1932 | 4.57 | −0.28 | −5.77 |
43 | Sep 14 1932 | 7.35 | −0.45 | −5.77 |
44 | Oct 7, 2008 | 996.23 | −60.66 | −5.74 |
45 | 13 Sep 1938 | 11.37 | −0.69 | −5.72 |
46 | Nov 13, 1929 | 17.66 | −1.07 | −5.71 |
47 | Sep 7 1937 | 14.69 | −0.89 | −5.71 |
48 | Nov 12, 1929 | 18.73 | −0.13 | −5.69 |
49 | June 16, 1930 | 20.56 | −1.24 | −5.69 |
50 | Oct 21, 1932 | 6.82 | −0.41 | −5.67 |
The best weeks
The best week in the history of the S&P 500 ended on August 6, 1932 with a gain of 18.36 percent, followed by the week of June 25, 1938 with an increase of 17.79 percent and the week of July 30, 1932 with a gain of 17.08 percent.
The table shows the best weeks of the S&P 500 counted back to 1918. The date refers to the last trading day of the week.
rank | week | Final score in points |
Change in points |
Change in% |
---|---|---|---|---|
1 | Aug 6, 1932 | 7.22 | 1.12 | 18.36 |
2 | June 25, 1938 | 11.39 | 1.72 | 17.79 |
3 | July 30, 1932 | 6.10 | 0.89 | 17.08 |
4th | Apr 22, 1933 | 7.75 | 1.09 | 16.37 |
5 | Oct 11, 1974 | 71.14 | 8.80 | 14.12 |
6th | Feb 13, 1932 | 8.80 | 1.08 | 13.99 |
7th | Sep 24 1932 | 8.52 | 1.02 | 13.60 |
8th | Oct 10, 1931 | 10.64 | 1.27 | 13.55 |
9 | Aug 27, 1932 | 8.57 | 1.01 | 13.36 |
10 | 18 Mar 1933 | 6.61 | 0.77 | 13.18 |
11 | Nov 28, 2008 | 896.24 | 96.21 | 12.03 |
12 | May 27, 1933 | 9.64 | 0.98 | 11.32 |
13 | Apr 9, 1938 | 10.27 | 1.01 | 10.91 |
14th | July 16, 1932 | 4.94 | 0.48 | 10.76 |
15th | 13 Mar 2009 | 756.55 | 73.17 | 10.71 |
16 | June 27, 1931 | 15.50 | 1.48 | 10.56 |
17th | Sep 9 1939 | 12.74 | 1.21 | 10.49 |
18th | Oct 31, 2008 | 968.75 | 91.98 | 10.49 |
19th | Jan. 8, 1938 | 11.62 | 1.07 | 10.14 |
20th | Nov 12, 1932 | 7.68 | 0.70 | 10.03 |
21st | Oct 28, 1933 | 9.41 | 0.84 | 9.80 |
22nd | Oct. 1, 1938 | 12.46 | 1.10 | 9.68 |
23 | Oct. 30, 1937 | 12.36 | 1.08 | 9.57 |
24 | June 9, 1934 | 10.22 | 0.87 | 9.30 |
25th | Aug 20, 1982 | 113.02 | 9.17 | 8.83 |
26th | Dec 10, 1932 | 7.03 | 0.57 | 8.82 |
27 | Jan. 20, 1934 | 10.94 | 0.88 | 8.75 |
28 | December 7, 1929 | 22.73 | 1.81 | 8.65 |
29 | Nov 7, 1931 | 11.37 | 0.84 | 7.98 |
30th | 28 Sep 2001 | 1,040.94 | 75.14 | 7.78 |
The worst weeks
The worst week in the history of the S&P 500 ended on July 22, 1933 with a loss of 18.47 percent, followed by the week of October 10, 2008 with a loss of 18.20 percent and the week of May 18, 1940 with a loss of 17.37 percent.
The table shows the worst weeks of the S&P 500 counted back to 1918. The date refers to the last trading day of the week.
rank | week | Final score in points |
Change in points |
Change in% |
---|---|---|---|---|
1 | July 22, 1933 | 9.71 | −2.20 | −18.47 |
2 | Oct 10, 2008 | 899.22 | −200.01 | −18.20 |
3 | May 18, 1940 | 9.75 | −2.05 | −17.37 |
4th | Oct 8, 1932 | 6.77 | −1.38 | −16.93 |
5 | 17 Sep 1932 | 7.50 | −1.28 | −14.58 |
6th | Oct 21, 1933 | 8.57 | −1.31 | −13.26 |
7th | Oct 3, 1931 | 9.37 | −1.36 | −12.67 |
8th | Nov 8, 1929 | 21.18 | −2.97 | −12.30 |
9 | Oct 23, 1987 | 248.22 | −34.48 | −12.20 |
10 | Dec 12, 1931 | 8.20 | −1.13 | −12.11 |
11 | 26th Mar 1938 | 9.20 | −1.21 | −11.62 |
12 | 21 Sep 2001 | 965.80 | −126.74 | −11.60 |
13 | Feb. 24, 2020 | 2954.20 | −383.50 | −11.49 |
14th | May 28, 1932 | 4.85 | −0.62 | −11.33 |
15th | Apr 9, 1932 | 6.31 | −0.79 | −11.13 |
16 | Apr 14, 2000 | 1,356.56 | −159.79 | −10.54 |
17th | 19 Sep 1931 | 11.07 | −1.30 | −10.51 |
18th | May 3, 1930 | 22.84 | −2.53 | −9.97 |
19th | Nov 6, 1937 | 11.13 | −1.23 | −9.95 |
20th | June 21, 1930 | 19.67 | −2.13 | −9.77 |
21st | Feb 25, 1933 | 5.59 | −0.60 | −9.69 |
22nd | Oct 3, 2008 | 1,099.23 | −114.04 | −9.40 |
23 | Apr 8, 1939 | 10.18 | −1.05 | −9.35 |
24 | Nov 20, 1937 | 10.83 | −1.10 | −9.22 |
25th | Oct 16, 1987 | 282.70 | −28.37 | −9.12 |
26th | Dec 8, 1928 | 21.92 | −2.11 | −8.78 |
27 | 13 Sep 1974 | 65.20 | −6.22 | −8.71 |
28 | Nov 21, 2008 | 800.03 | −73.26 | −8.39 |
29 | May 14, 1932 | 5.50 | −0.50 | −8.33 |
30th | Oct 11, 1930 | 17.63 | −1.60 | −8.32 |
The best months
The best month in the history of the S&P 500 was April 1933 with a gain of 42.22 percent, followed by July 1932 with an increase of 37.70 percent and August 1932 with a gain of 37.54 percent.
The table shows the best months of the S&P 500, calculated back to 1800.
rank | month | Final score in points |
Change in points |
Change in% |
---|---|---|---|---|
1 | Apr. 1933 | 8.32 | 2.47 | 42.22 |
2 | July 1932 | 6.10 | 1.67 | 37.70 |
3 | Aug 1932 | 8.39 | 2.29 | 37.54 |
4th | June 1938 | 11.56 | 2.29 | 24.70 |
5 | March 1858 | 1.85 | 0.27 | 17.09 |
6th | Dec 1857 | 1.48 | 0.21 | 16.54 |
7th | Sep 1939 | 13.02 | 1.84 | 16.46 |
8th | May 1933 | 9.64 | 1.32 | 15.87 |
9 | Oct. 1862 | 2.54 | 0.33 | 14.93 |
10 | Apr. 1938 | 9.70 | 1.20 | 14.12 |
11 | June 1931 | 14.83 | 1.81 | 13.90 |
12 | Jan. 1987 | 274.08 | 31.91 | 13.18 |
13 | June 1933 | 10.91 | 1.27 | 13.17 |
14th | Jan. 1863 | 2.97 | 0.34 | 12.93 |
15th | May 1843 | 1.85 | 0.21 | 12.80 |
16 | Jan. 1975 | 76.98 | 8.42 | 12.28 |
17th | Apr. 1834 | 2.75 | 0.30 | 12.24 |
18th | Nov. 1928 | 24.28 | 2.60 | 11.99 |
19th | Jan. 1976 | 100.86 | 10.67 | 11.83 |
20th | Aug 1982 | 119.51 | 12.42 | 11.60 |
21st | Aug 1933 | 11.09 | 1.14 | 11.46 |
22nd | Feb. 1931 | 17.93 | 1.84 | 11.44 |
23 | June 1929 | 27.62 | 2.79 | 11.24 |
24 | Dec 1991 | 417.09 | 41.87 | 11.16 |
25th | Oct 1982 | 133.72 | 13.30 | 11.05 |
26th | July 1939 | 12.04 | 1.18 | 10.87 |
27 | March 1928 | 19.13 | 1.87 | 10.83 |
28 | Oct 2011 | 1,253.30 | 121.88 | 10.77 |
29 | Aug 1984 | 166.68 | 16.02 | 10.63 |
30th | Jan. 1934 | 11.17 | 1.07 | 10.59 |
The worst months
The worst month in the history of the S&P 500 was September 1931 with a loss of 29.94 percent, followed by March 1938 with a loss of 25.04 percent and October 1857 with a loss of 24.84 percent.
The table shows the worst months of the S&P 500 counted back to 1800.
rank | month | Final score in points |
Change in points |
Change in% |
---|---|---|---|---|
1 | Sep 1931 | 9.71 | −4.15 | −29.94 |
2 | March 1938 | 8.50 | −2.84 | −25.04 |
3 | Oct. 1857 | 1.18 | −0.39 | −24.84 |
4th | May 1940 | 9.27 | −2.92 | −23.95 |
5 | May 1932 | 4.47 | −1.36 | −23.33 |
6th | Oct 1987 | 251.79 | -70.04 | −21.76 |
7th | May 1861 | 1.51 | −0.39 | −20.53 |
8th | Apr. 1932 | 5.83 | −1.48 | −20.25 |
9 | Oct. 1929 | 24.15 | −6.01 | −19.93 |
10 | Feb. 1933 | 5.66 | −1.28 | −18.44 |
11 | Oct 2008 | 968.75 | −197.61 | −16.94 |
12 | June 1930 | 20.46 | −4.03 | −16.46 |
13 | Sep 1857 | 1.57 | −0.27 | −14.67 |
14th | Aug 1998 | 957.28 | −163.39 | −14.58 |
15th | December 1931 | 8.12 | −1.38 | −14.53 |
16 | Sep 1937 | 13.76 | −2.28 | −14.21 |
17th | Oct. 1932 | 6.96 | −1.12 | −13.86 |
18th | Jan. 1842 | 1.69 | −0.27 | −13.78 |
19th | May 1931 | 13.02 | −2.07 | −13.72 |
20th | Dec 1860 | 1.72 | −0.27 | −13.57 |
21st | March 1939 | 10.98 | −1.72 | −13.54 |
22nd | Nov 1929 | 20.92 | −3.23 | −13.37 |
23 | Sep 1930 | 18.59 | −2.78 | −13.01 |
24 | Sep 1974 | 63.54 | −8.61 | −11.93 |
25th | March 1932 | 7.31 | −0.98 | −11.82 |
26th | July 1934 | 8.68 | −1.13 | −11.52 |
27 | Nov 1973 | 95.96 | −12.33 | −11.39 |
28 | Sep 1933 | 9.83 | −1.26 | −11.36 |
29 | Sep 2002 | 815.28 | −100.79 | −11.00 |
30th | Feb. 2009 | 735.09 | −90.79 | −10.99 |
Annual development
The best year in the history of the S&P 500 was 1862 with a gain of 55.62 percent, followed by 1933 with an increase of 46.59 percent and 1843 with a gain of 45.63 percent. The worst year in the history of the stock index was 1931 with a loss of 47.07 percent, followed by 1937 with a minus of 38.59 percent and 2008 with a loss of 38.49 percent.
The table shows the annual development of the S&P 500 calculated back to 1800.
year | Final score in points |
Change in points |
Change in% |
---|---|---|---|
1800 | 2.74 | ||
1801 | 2.93 | 0.19 | 6.93 |
1802 | 3.20 | 0.27 | 9.22 |
1803 | 2.89 | −0.31 | −9.69 |
1804 | 2.77 | −0.12 | −4.15 |
1805 | 2.65 | −0.12 | −4.33 |
1806 | 2.77 | 0.12 | 4.53 |
1807 | 2.89 | 0.12 | 4.33 |
1808 | 2.89 | 0.00 | 0.00 |
1809 | 2.92 | 0.03 | 1.04 |
1810 | 2.86 | −0.06 | −2.05 |
1811 | 2.65 | −0.21 | −7.34 |
1812 | 2.74 | 0.09 | 3.40 |
1813 | 2.77 | 0.03 | 1.09 |
1814 | 2.31 | −0.46 | −16.61 |
1815 | 2.37 | 0.06 | 2.60 |
1816 | 2.28 | −0.09 | −3.78 |
1817 | 2.55 | 0.27 | 11.84 |
1818 | 2.47 | −0.08 | −3.14 |
1819 | 2.28 | −0.19 | −7.69 |
1820 | 2.39 | 0.11 | 4.82 |
1821 | 2.54 | 0.15 | 6.28 |
1822 | 2.42 | −0.12 | −4.72 |
1823 | 2.42 | 0.00 | 0.00 |
1824 | 2.54 | 0.12 | 4.96 |
1825 | 2.39 | −0.15 | −5.91 |
1826 | 2.39 | 0.00 | 0.00 |
1827 | 2.32 | −0.07 | −2.93 |
1828 | 2.32 | 0.00 | 0.00 |
1829 | 2.29 | −0.03 | −1.29 |
1830 | 2.46 | 0.17 | 7.42 |
1831 | 2.54 | 0.08 | 3.25 |
1832 | 2.66 | 0.12 | 4.72 |
1833 | 2.64 | −0.02 | −0.75 |
1834 | 2.98 | 0.34 | 12.88 |
1835 | 3.07 | 0.09 | 3.02 |
1836 | 2.71 | −0.36 | −11.73 |
1837 | 2.40 | −0.31 | −11.44 |
1838 | 2.44 | 0.04 | 1.67 |
1839 | 2.14 | −0.30 | −12.30 |
1840 | 2.26 | 0.12 | 5.61 |
1841 | 1.96 | −0.30 | −13.27 |
1842 | 1.60 | −0.36 | −18.37 |
1843 | 2.33 | 0.73 | 45.63 |
1844 | 2.69 | 0.36 | 15.45 |
1845 | 2.90 | 0.21 | 7.81 |
1846 | 2.48 | −0.42 | −14.48 |
1847 | 2.51 | 0.03 | 1.21 |
1848 | 2.42 | −0.09 | −3.59 |
1849 | 2.42 | 0.00 | 0.00 |
1850 | 2.87 | 0.45 | 18.60 |
1851 | 2.78 | −0.09 | −3.14 |
1852 | 3.33 | 0.55 | 19.78 |
1853 | 2.90 | −0.43 | −12.91 |
1854 | 2.03 | −0.87 | −30.00 |
1855 | 2.06 | 0.03 | 1.48 |
1856 | 2.15 | 0.09 | 4.37 |
1857 | 1.48 | −0.67 | −31.16 |
1858 | 1.69 | 0.21 | 14.19 |
1859 | 1.51 | −0.18 | −10.65 |
1860 | 1.72 | 0.21 | 13.91 |
1861 | 1.69 | −0.03 | −1.74 |
1862 | 2.63 | 0.94 | 55.62 |
1863 | 3.63 | 1.00 | 38.02 |
1864 | 3.87 | 0.24 | 6.61 |
1865 | 3.54 | −0.33 | 8.53 |
1866 | 3.67 | 0.13 | 3.67 |
1867 | 3.72 | 0.05 | 1.36 |
1868 | 4.12 | 0.40 | 10.75 |
1869 | 4.20 | 0.08 | 1.94 |
1870 | 4.43 | 0.23 | 5.48 |
1871 | 4.75 | 0.32 | 7.22 |
1872 | 5.07 | 0.32 | 6.74 |
1873 | 4.43 | −0.64 | −12.62 |
1874 | 4.55 | 0.12 | 2.71 |
1875 | 4.36 | −0.19 | −4.18 |
1876 | 3.58 | −0.78 | −17.89 |
1877 | 3.25 | −0.33 | −9.22 |
1878 | 3.44 | 0.19 | 5.85 |
1879 | 4.92 | 1.48 | 43.02 |
1880 | 5.84 | 0.92 | 18.70 |
1881 | 6.02 | 0.18 | 3.08 |
1882 | 5.84 | −0.18 | −2.99 |
1883 | 5.35 | −0.49 | −8.39 |
1884 | 4.34 | −1.01 | −18.88 |
1885 | 5.20 | 0.86 | 19.82 |
1886 | 5.64 | 0.44 | 8.46 |
1887 | 5.27 | −0.37 | −6.56 |
1888 | 5.14 | −0.13 | −2.47 |
1889 | 5.32 | 0.18 | 3.50 |
1890 | 4.60 | −0.72 | −13.53 |
1891 | 5.41 | 0.81 | 17.61 |
1892 | 5.51 | 0.10 | 1.85 |
1893 | 4.41 | −1.10 | −19.96 |
1894 | 4.30 | −0.11 | −2.49 |
1895 | 4.32 | 0.02 | 0.47 |
1896 | 4.22 | −0.10 | −2.31 |
1897 | 4.75 | 0.53 | 12.56 |
1898 | 5.65 | 0.90 | 18.95 |
1899 | 6.02 | 0.37 | 6.55 |
1900 | 6.87 | 0.85 | 14.12 |
1901 | 7.95 | 1.08 | 15.72 |
1902 | 8.05 | 0.10 | 1.26 |
1903 | 6.57 | −1.48 | −18.39 |
1904 | 8.25 | 1.68 | 25.57 |
1905 | 9.54 | 1.29 | 15.64 |
1906 | 9.84 | 0.30 | 3.14 |
1907 | 6.57 | −3.27 | −33.23 |
1908 | 9.03 | 2.46 | 37.44 |
1909 | 10.30 | 1.27 | 14.06 |
1910 | 9.05 | −1.25 | −12.14 |
1911 | 9.11 | 0.06 | 0.66 |
1912 | 9.38 | 0.27 | 2.96 |
1913 | 8.04 | −1.34 | −14.29 |
1914 | 7.35 | −0.69 | −8.58 |
1915 | 9.48 | 2.13 | 28.98 |
1916 | 9.80 | 0.32 | 3.38 |
1917 | 6.80 | −3.00 | −30.61 |
1918 | 7.92 | 1.12 | 16.47 |
1919 | 9.02 | 1.10 | 13.89 |
1920 | 6.81 | −2.21 | −24.50 |
1921 | 7.32 | 0.51 | 7.49 |
1922 | 8.85 | 1.21 | 16.54 |
1923 | 8.72 | −0.13 | −1.47 |
1924 | 10.35 | 1.63 | 18.69 |
1925 | 12.76 | 2.41 | 23.29 |
1926 | 13.49 | 0.73 | 5.72 |
1927 | 17.66 | 4.17 | 30.91 |
1928 | 24.35 | 6.69 | 37.88 |
1929 | 21.45 | −2.90 | −11.91 |
1930 | 15.34 | −6.11 | −28.48 |
1931 | 8.12 | −7.22 | −47.07 |
1932 | 6.89 | −1.23 | −15.15 |
1933 | 10.10 | 3.21 | 46.59 |
1934 | 9.50 | −0.60 | −5.94 |
1935 | 13.43 | 3.93 | 41.37 |
1936 | 17.18 | 3.75 | 27.92 |
1937 | 10.55 | −6.63 | −38.59 |
1938 | 13.21 | 2.66 | 25.21 |
1939 | 12.49 | −0.72 | −5.45 |
1940 | 10.58 | −1.91 | −15.29 |
1941 | 8.69 | −1.89 | −17.86 |
1942 | 9.77 | 1.08 | 12.43 |
1943 | 11.67 | 1.90 | 19.45 |
1944 | 13.28 | 1.61 | 13.80 |
1945 | 17.36 | 4.08 | 30.72 |
1946 | 15.30 | −2.06 | −11.86 |
1947 | 15.30 | 0.00 | 0.00 |
1948 | 15.20 | −0.10 | −0.65 |
1949 | 16.76 | 1.56 | 10.26 |
1950 | 20.41 | 3.65 | 21.78 |
1951 | 23.77 | 3.36 | 16.46 |
1952 | 26.57 | 2.80 | 11.78 |
1953 | 24.81 | −1.76 | −6.62 |
1954 | 35.98 | 11.17 | 45.02 |
1955 | 45.48 | 9.50 | 26.40 |
1956 | 46.67 | 1.19 | 2.62 |
1957 | 39.99 | −6.68 | −14.31 |
1958 | 55.21 | 15.22 | 38.06 |
1959 | 59.89 | 4.68 | 8.48 |
1960 | 58.11 | −1.78 | −2.97 |
1961 | 71.55 | 13.44 | 23.13 |
1962 | 63.10 | −8.45 | −11.81 |
1963 | 75.02 | 11.92 | 18.89 |
1964 | 84.75 | 9.73 | 12.97 |
1965 | 92.43 | 7.68 | 9.07 |
1966 | 80.33 | −12.10 | −13.09 |
1967 | 96.47 | 16.14 | 20.09 |
1968 | 103.86 | 7.39 | 7.66 |
1969 | 92.06 | −11.80 | −11.36 |
1970 | 92.15 | 0.09 | 0.10 |
1971 | 102.09 | 9.94 | 10.79 |
1972 | 118.05 | 15.96 | 15.63 |
1973 | 97.55 | −20.50 | −17.37 |
1974 | 68.56 | −28.99 | −29.72 |
1975 | 90.19 | 21.63 | 31.55 |
1976 | 107.46 | 17.27 | 19.15 |
1977 | 95.10 | −12.36 | −11.50 |
1978 | 96.73 | 1.63 | 1.71 |
1979 | 107.94 | 11.21 | 11.59 |
1980 | 135.75 | 27.81 | 25.77 |
1981 | 122.55 | −13.20 | −9.73 |
1982 | 140.64 | 18.09 | 14.76 |
1983 | 164.93 | 24.29 | 17.27 |
1984 | 167.24 | 2.31 | 1.40 |
1985 | 211.28 | 44.04 | 26.33 |
1986 | 242.17 | 30.89 | 14.62 |
1987 | 247.08 | 4.91 | 2.03 |
1988 | 277.72 | 30.64 | 12.40 |
1989 | 353.40 | 75.68 | 27.25 |
1990 | 330.22 | −23.18 | −6.56 |
1991 | 417.09 | 86.87 | 26.31 |
1992 | 435.71 | 18.62 | 4.46 |
1993 | 466.45 | 30.74 | 7.06 |
1994 | 459.27 | −7.18 | −1.54 |
1995 | 615.93 | 156.66 | 34.11 |
1996 | 740.74 | 124.81 | 20.26 |
1997 | 970.43 | 229.69 | 31.01 |
1998 | 1,229.23 | 258.80 | 26.67 |
1999 | 1,469.25 | 240.02 | 19.53 |
2000 | 1,320.28 | −148.97 | −10.14 |
2001 | 1,148.08 | −172.20 | −13.04 |
2002 | 879.82 | −268.26 | −23.37 |
2003 | 1,111.92 | 232.10 | 26.38 |
2004 | 1,211.92 | 100.00 | 8.99 |
2005 | 1,248.29 | 36.37 | 3.00 |
2006 | 1,418.30 | 170.01 | 13.62 |
2007 | 1,468.36 | 50.06 | 3.53 |
2008 | 903.25 | −565.11 | −38.49 |
2009 | 1,115.10 | 211.85 | 23.45 |
2010 | 1,257.64 | 142.54 | 12.78 |
2011 | 1,257.60 | −0.04 | 0.00 |
2012 | 1,426.19 | 168.59 | 13.41 |
2013 | 1,848.36 | 422.17 | 29.60 |
2014 | 2,058.90 | 210.54 | 11.39 |
2015 | 2,043.94 | −14.96 | −0.73 |
2016 | 2,238.83 | 194.89 | 9.54 |
2017 | 2,673.61 | 434.78 | 19.42 |
2018 | 2,506.85 | −166.76 | −6.24 |
2019 | 3,230.78 | 723.93 | 28.88 |
Bull markets
The S&P 500's longest bull market lasted a total of 2,836 days between 1990 and 1998. The bull market with the greatest profit also occurred between 1990 and 1998. Investors gained 301.7 percent in stocks during that time. Since 1929, according to a study by the US analysis company Ned Davis Research, there have been 28 cyclical bull markets with an average duration of 721 days. The average profit was 78.8 percent.
According to a definition by Ned Davis Research, bull markets are price gains of the S&P 500 of at least 30 percent after 50 days, an increase in the index of 13 percent after 155 days or a 30 percent reversal in the geometric Value Line Composite Index since 1965 .
Beginning | Final score in points |
The End | Final score in points |
Change in% |
Days |
---|---|---|---|---|---|
Nov 13, 1929 | 17.66 | Apr 10, 1930 | 25.92 | 46.8 | 148 |
June 1, 1932 | 4.40 | Sep 7 1932 | 9.31 | 111.6 | 98 |
Feb. 27, 1933 | 5.53 | Feb 6, 1934 | 11.82 | 113.7 | 344 |
14 Mar 1935 | 8.06 | 6th Mar 1937 | 16.68 | 106.9 | 723 |
31 Mar 1938 | 8.50 | Nov 9, 1938 | 13.79 | 62.2 | 223 |
Apr 8, 1939 | 10.18 | Oct 25, 1939 | 13.21 | 29.8 | 200 |
Apr 28, 1942 | 7.47 | May 29, 1946 | 19.25 | 157.7 | 1,492 |
May 17, 1947 | 13.71 | June 15, 1948 | 17.06 | 24.4 | 395 |
June 13, 1949 | 13.55 | Jan. 5, 1953 | 26.66 | 96.8 | 1,302 |
Sep 14 1953 | 22.71 | Aug 2, 1956 | 49.74 | 119.0 | 1,053 |
Oct 22, 1957 | 38.98 | Aug 3, 1959 | 60.71 | 55.7 | 650 |
Oct 25, 1960 | 52.30 | Dec 12, 1961 | 72.64 | 38.9 | 413 |
June 26, 1962 | 52.32 | Feb 9, 1966 | 94.06 | 79.8 | 1,324 |
Oct 7, 1966 | 73.20 | Nov 29, 1968 | 108.37 | 48.0 | 784 |
May 26, 1970 | 69.29 | Apr 28, 1971 | 104.77 | 51.2 | 337 |
Nov 23, 1971 | 90.16 | Jan. 11, 1973 | 120.24 | 33.4 | 415 |
Oct 3, 1974 | 62.28 | 21 Sep 1976 | 107.83 | 73.1 | 719 |
6th Mar 1978 | 86.90 | Sep 12 1978 | 106.99 | 23.1 | 190 |
27 Mar 1980 | 98.22 | Nov 28, 1980 | 140.52 | 43.1 | 246 |
Aug 12, 1982 | 102.42 | Oct 10, 1983 | 172.65 | 68.6 | 424 |
July 24, 1984 | 147.82 | Aug 25, 1987 | 336.77 | 127.8 | 1127 |
Dec. 4, 1987 | 223.92 | July 16, 1990 | 368.95 | 64.8 | 955 |
Oct 11, 1990 | 295.46 | July 17, 1998 | 1,186.75 | 301.7 | 2,836 |
Aug 31, 1998 | 957.28 | 24 Mar 2000 | 1,527.46 | 59.6 | 571 |
21 Sep 2001 | 965.80 | Jan. 4, 2002 | 1,172.51 | 21.4 | 105 |
Oct 9, 2002 | 776.76 | Oct 9, 2007 | 1,565.15 | 101.5 | 1,826 |
9 Mar 2009 | 676.53 | Apr 29, 2011 | 1,363.61 | 101.6 | 781 |
Oct 3, 2011 | 1,099.23 | 19th May 2015 | 1,324 | ||
Feb 11, 2016 | 1,851.86 | 1657 |
Bear markets
The S&P 500's longest bear market lasted a total of 916 days between 1939 and 1942. The bear market with the greatest loss occurred between 1930 and 1932. During that time, investors lost 83.0 percent with stocks. According to a study by the US analysis company Ned Davis Research, there have been 29 cyclical bear markets with an average duration of 382 days since 1929. The average loss was 29.4 percent.
According to a definition by Ned Davis Research, bear markets are price losses of the S&P 500 of at least 30 percent after 50 days, a decline in the index of 13 percent after 145 days or a 30 percent reversal in the geometric Value Line Composite Index since 1965 .
Beginning | Final score in points |
The End | Final score in points |
Change in% |
Days |
---|---|---|---|---|---|
16 Sep 1929 | 31.86 | Nov 13, 1929 | 17.66 | −44.6 | 58 |
Apr 10, 1930 | 25.92 | June 1, 1932 | 4.40 | −83.0 | 783 |
Sep 7 1932 | 9.31 | Feb. 27, 1933 | 5.53 | −40.6 | 173 |
Feb 6, 1934 | 11.82 | 14 Mar 1935 | 8.06 | −31.8 | 401 |
6th Mar 1937 | 16.68 | 31 Mar 1938 | 8.50 | −49.0 | 390 |
Nov 9, 1938 | 13.79 | Apr 8, 1939 | 10.18 | −26.2 | 150 |
Oct 25, 1939 | 13.21 | Apr 28, 1942 | 7.47 | −43.5 | 916 |
May 29, 1946 | 19.25 | May 17, 1947 | 13.71 | −28.8 | 353 |
June 15, 1948 | 17.06 | June 13, 1949 | 13.55 | −20.6 | 363 |
Jan. 5, 1953 | 26.66 | Sep 14 1953 | 22.71 | −14.8 | 252 |
Aug 2, 1956 | 49.74 | Oct 22, 1957 | 38.98 | −21.6 | 446 |
Aug 3, 1959 | 60.71 | Oct 25, 1960 | 52.30 | −13.9 | 449 |
Dec 12, 1961 | 72.64 | June 26, 1962 | 52.32 | −28.0 | 196 |
Feb 9, 1966 | 94.06 | Oct 7, 1966 | 73.20 | −22.2 | 240 |
Nov 29, 1968 | 108.37 | May 26, 1970 | 69.29 | −36.1 | 543 |
Apr 28, 1971 | 104.77 | Nov 23, 1971 | 90.16 | −13.9 | 209 |
Jan. 11, 1973 | 120.24 | Oct 3, 1974 | 62.28 | −48.2 | 630 |
21 Sep 1976 | 107.83 | 6th Mar 1978 | 86.90 | −19.4 | 531 |
Sep 12 1978 | 106.99 | 27 Mar 1980 | 98.22 | −8.2 | 562 |
Nov 28, 1980 | 140.52 | Aug 12, 1982 | 102.42 | −27.1 | 622 |
Oct 10, 1983 | 172.65 | July 24, 1984 | 147.82 | −14.4 | 288 |
Aug 25, 1987 | 336.77 | Dec. 4, 1987 | 223.92 | −33.5 | 101 |
July 16, 1990 | 368.95 | Oct 11, 1990 | 295.46 | −19.9 | 87 |
July 17, 1998 | 1,186.75 | Aug 31, 1998 | 957.28 | −19.3 | 45 |
14 Mar 2000 | 1,527.46 | 21 Sep 2001 | 965.80 | −36.8 | 546 |
Jan. 4, 2002 | 1,172.51 | Oct 9, 2002 | 776.76 | −33.8 | 278 |
Oct 9, 2007 | 1,565.15 | 9 Mar 2009 | 676.53 | −56.8 | 517 |
Apr 29, 2011 | 1,363.61 | Oct 3, 2011 | 1,099.23 | −19.4 | 157 |
May 20, 2015 | 2,134.72 | Feb 11, 2016 | 1,851.86 | −13.3 | 267 |
Companies
Profit development
Standard & Poor's released since 1988, two different specifications for profit - the so-called "operating earnings" (earnings from operating activities ) and "Reported earnings" (profit after tax, interest and depreciation according to US GAAP ). Previously only the reported profit was given.
The operating profit should represent the sustainable profitability of a company. Since the term is unprotected, there are many definitions. In the case of reported earnings, the annual result is adjusted for discontinued operations. Extraordinary earnings components are omitted.
The following table shows the index level, earnings in US dollars per share and the P / E ratio based on the results for the last twelve months. For all data, it should be noted that these refer to the nominal prices in US dollars for the respective survey period, i.e. are not adjusted for inflation .
date | Index level | Operating earnings per share in USD |
P / E ratio | Reported earnings per share in USD |
P / E ratio |
---|---|---|---|---|---|
Dec 31, 1988 | 277.72 | 24.12 | 11.51 | 23.75 | 11.69 |
Dec. 31, 1989 | 353.40 | 24.32 | 14.53 | 22.87 | 15.45 |
Dec 31, 1990 | 330.22 | 22.65 | 14.58 | 21.34 | 15.47 |
Dec 31, 1991 | 417.09 | 19.30 | 21.61 | 15.97 | 26.12 |
Dec 31, 1992 | 435.71 | 20.87 | 20.88 | 19.09 | 22.82 |
Dec 31, 1993 | 466.45 | 26.90 | 17.34 | 21.89 | 21.31 |
Dec 31, 1994 | 459.27 | 31.75 | 14.47 | 30.60 | 15.01 |
Dec 31, 1995 | 615.93 | 37.70 | 16.34 | 33.96 | 18.14 |
Dec 31, 1996 | 740.74 | 40.63 | 18.23 | 38.73 | 19.13 |
Dec 31, 1997 | 970.43 | 44.01 | 22.05 | 39.72 | 24.43 |
Dec 31, 1998 | 1,229.23 | 44.27 | 27.77 | 37.71 | 32.60 |
Dec 31, 1999 | 1,469.25 | 51.68 | 28.43 | 48.17 | 30.50 |
Dec. 31, 2000 | 1,320.28 | 56.13 | 23.52 | 50.00 | 26.41 |
Dec 31, 2001 | 1,148.08 | 38.85 | 29.55 | 24.69 | 46.50 |
Dec 31, 2002 | 879.82 | 46.04 | 19.11 | 27.59 | 31.89 |
Dec 31, 2003 | 1,111.92 | 54.69 | 20.33 | 48.74 | 22.81 |
Dec 31, 2004 | 1,211.92 | 67.68 | 17.91 | 58.55 | 20.70 |
Dec 31, 2005 | 1,248.29 | 76.45 | 16.33 | 69.93 | 17.85 |
Dec 31, 2006 | 1,418.30 | 87.72 | 16.17 | 81.51 | 17.40 |
Dec 31, 2007 | 1,468.36 | 82.54 | 17.79 | 66.18 | 22.19 |
Dec 31, 2008 | 903.25 | 49.51 | 18.24 | 14.88 | 60.70 |
Dec 31, 2009 | 1,115.10 | 56.86 | 19.61 | 50.97 | 21.88 |
Dec 31, 2010 | 1,257.64 | 83.77 | 15.01 | 77.35 | 16.26 |
Dec 31, 2011 | 1,257.60 | 96.44 | 13.04 | 86.95 | 14.46 |
Quarters with the highest and lowest P / E ratios
The table shows the quarters with the highest and lowest PER of the S&P 500 since 1936. All information is based on the results of the last twelve months according to US-GAAP (Reported Earnings).
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|
Dividend development
The table shows the index level of the S&P 500, the reported earnings per share, the dividend in US dollars per share, the dividend payout rate in percent and the yield based on the last twelve months in percent. For comparison, the yield on ten-year US government bonds and the inflation rate are shown.
The dividend as a percentage of profit (for example after tax) shows the payout rate; Companies cannot hold out a payout rate of more than 100 percent for long - a dividend reduction can then be expected. The highest payout rate for companies in the S&P 500 since 1977 was recorded in 2002 at 142 percent.
date | Index level | Reported earnings per share in USD |
Dividend per share in USD |
Payout rate in% |
Dividend yield in% |
Yield on ten-year government bonds in% |
Inflation rate in% |
---|---|---|---|---|---|---|---|
Dec 31, 1977 | 95.10 | 2.80 | 1.30 | 46.43 | 4.91 | 7.78 | 6.70 |
Dec. 31, 1978 | 96.11 | 3.56 | 1.35 | 37.92 | 5.28 | 9.15 | 9.02 |
Dec 31, 1979 | 107.94 | 3.79 | 1.49 | 39.31 | 5.23 | 10.33 | 13.29 |
Dec 31, 1980 | 135.76 | 3.97 | 1.58 | 39.80 | 4.54 | 12.43 | 12.52 |
Dec 31, 1981 | 122.55 | 4.06 | 1.69 | 41.63 | 5.41 | 13.98 | 8.92 |
Dec. 31, 1982 | 140.64 | 3.14 | 1.71 | 54.46 | 4.88 | 10.36 | 3.83 |
Dec 31, 1983 | 164.93 | 3.87 | 1.70 | 43.93 | 4.24 | 11.82 | 3.79 |
Dec. 31, 1984 | 167.24 | 3.95 | 1.95 | 49.37 | 4.50 | 11.55 | 3.95 |
Dec. 31, 1985 | 211.28 | 3.33 | 2.01 | 60.36 | 3.74 | 9.00 | 3.80 |
Dec. 31, 1986 | 242.17 | 2.96 | 2.06 | 69.59 | 3.42 | 7.23 | 1.10 |
Dec. 31, 1987 | 247.08 | 4.60 | 2.21 | 48.04 | 3.57 | 8.83 | 4.43 |
Dec 31, 1988 | 277.72 | 5.62 | 2.48 | 44.13 | 3.50 | 9.14 | 4.42 |
Dec. 31, 1989 | 353.40 | 4.80 | 2.86 | 59.58 | 3.13 | 7.93 | 4.65 |
Dec 31, 1990 | 330.22 | 4.40 | 3.12 | 70.91 | 3.66 | 8.08 | 6.11 |
Dec 31, 1991 | 417.09 | 2.55 | 3.04 | 119.22 | 2.93 | 6.71 | 3.06 |
Dec 31, 1992 | 435.71 | 3.60 | 3.03 | 84.17 | 2.84 | 6.70 | 2.90 |
Dec 31, 1993 | 466.45 | 5.08 | 3.09 | 60.83 | 2.70 | 5.83 | 2.75 |
Dec 31, 1994 | 459.27 | 8.35 | 3.34 | 40.00 | 2.87 | 7.84 | 2.67 |
Dec 31, 1995 | 615.93 | 7.13 | 3.55 | 49.79 | 2.24 | 5.58 | 2.54 |
Dec 31, 1996 | 740.74 | 9.86 | 3.79 | 38.44 | 2.01 | 6.43 | 3.32 |
Dec 31, 1997 | 970.43 | 8.94 | 3.95 | 44.18 | 1.60 | 5.75 | 1.70 |
Dec 31, 1998 | 1,229.23 | 8.56 | 4.00 | 46.73 | 1.32 | 4.65 | 1.61 |
Dec 31, 1999 | 1,469.25 | 12.77 | 4.05 | 31.71 | 1.14 | 6.45 | 2.68 |
Dec. 31, 2000 | 1,320.28 | 9.07 | 3.98 | 43.88 | 1.23 | 5.12 | 3.39 |
Dec 31, 2001 | 1,148.08 | 5.45 | 3.98 | 73.03 | 1.37 | 5.07 | 1.55 |
Dec 31, 2002 | 879.82 | 3.00 | 4.26 | 141.87 | 1.83 | 3.83 | 2.38 |
Dec 31, 2003 | 1,111.92 | 13.16 | 5.06 | 38.41 | 1.56 | 4.27 | 1.88 |
Dec 31, 2004 | 1,211.92 | 13.94 | 5.33 | 38.26 | 1.60 | 4.24 | 3.26 |
Dec 31, 2005 | 1,248.29 | 17.30 | 6.08 | 35.14 | 1.78 | 4.39 | 3.42 |
Dec 31, 2006 | 1,418.30 | 20.24 | 6.86 | 33.91 | 1.75 | 4.71 | 2.54 |
Dec 31, 2007 | 1,468.36 | 7.82 | 7.62 | 97.46 | 1.89 | 4.04 | 4.08 |
Dec 31, 2008 | 903.25 | −23.25 | 7.15 | −30.77 | 3.14 | 2.25 | 0.09 |
Dec 31, 2009 | 1,115.10 | 15.18 | 5.66 | 37.29 | 2.01 | 3.85 | 2.72 |
Dec 31, 2010 | 1,257.64 | 20.67 | 6.03 | 29.19 | 1.81 | 3.30 | 1.50 |
Dec 31, 2011 | 1,257.60 | 20.64 | 7.28 | 35.26 | 2.10 | 1.89 | 2.96 |
composition
The table contains the 125 largest values of the S&P 500 (as of June 14, 2018).
rank | Surname | Branch | logo | Index weighting in% |
---|---|---|---|---|
1 | Apple | technology | 4.08 | |
2 | Microsoft | Software / technology | 3.29 | |
3 | Amazon.com | retail trade | 2.92 | |
4th | Facebook Inc. (A) | media | 1.98 | |
5 | JPMorgan Chase | Banks | 1.56 | |
6th | Berkshire Hathaway (B) | Holding company | 1.56 | |
7th | Alphabet Inc. (C) | media | 1.47 | |
8th | ExxonMobil | oil and gas | 1.46 | |
9 | Alphabet Inc. (A) | media | 1.45 | |
10 | Johnson & Johnson | Pharmaceutical and consumer goods | 1.38 | |
11 | Bank of America | Banks | 1.19 | |
12 | Intel | semiconductor | 1.09 | |
13 | UnitedHealth | Insurance | 1.04 | |
14th | Visa Inc. (A) | Credit card system | 1.02 | |
15th | Chevron Corporation | oil and gas | 1.01 | |
16 | Wells Fargo | Banks | 1.01 | |
17th | The Home Depot | retail trade | 0.98 | |
18th | Pfizer | pharmacy | 0.90 | |
19th | Cisco Systems | telecommunications | 0.90 | |
20th | Boeing | Aircraft construction | 0.84 | |
21st | AT&T | telecommunications | 0.84 | |
22nd | Verizon Communications | telecommunications | 0.83 | |
23 | Procter & Gamble | Consumer goods | 0.80 | |
24 | Mastercard (A) | Credit card system | 0.77 | |
25th | Netflix | media | 0.71 | |
26th | Citigroup | Banks | 0.71 | |
27 | The Coca-Cola Company | beverages | 0.70 | |
28 | Merck & Co. | pharmacy | 0.69 | |
29 | The Walt Disney Company | media | 0.69 | |
30th | Nvidia | microelectronics | 0.68 | |
31 | DuPont de Nemours | chemistry | 0.67 | |
32 | AbbVie | biotechnology | 0.66 | |
33 | Comcast (A) | media | 0.66 | |
34 | PepsiCo | beverages | 0.62 | |
35 | Oracle | Information technology | 0.58 | |
36 | MC Donalds | System catering | 0.56 | |
37 | Adobe Inc. | software | 0.53 | |
38 | Philip Morris International | tobacco | 0.52 | |
39 | IBM | Information technology | 0.52 | |
40 | Amgen | biotechnology | 0.52 | |
41 | Walmart | retail trade | 0.51 | |
42 | 3M | chemistry | 0.51 | |
43 | General Electric | Conglomerate | 0.49 | |
44 | Medtronic | Medical technology | 0.49 | |
45 | Union Pacific Corporation | transport | 0.48 | |
46 | Honeywell International | Conglomerate | 0.47 | |
47 | Texas Instruments | semiconductor | 0.47 | |
48 | Broadcom Inc. | semiconductor | 0.46 | |
49 | Abbott Laboratories | pharmacy | 0.46 | |
50 | Altria Group | Food and tobacco | 0.45 | |
51 | Booking Holdings | tourism | 0.43 | |
52 | Accenture (A) | Business consulting | 0.42 | |
53 | Nike (B) | Sporting goods | 0.40 | |
54 | PayPal | Financial services | 0.40 | |
55 | Salesforce.com | Cloud systems | 0.40 | |
56 | Schlumberger | oil and gas | 0.39 | |
57 | United Technologies Corporation | Conglomerate | 0.39 | |
58 | Gilead Sciences | pharmacy | 0.39 | |
59 | Caterpillar | Construction machinery | 0.38 | |
60 | Costco Wholesale | Wholesale | 0.37 | |
61 | Qualcomm | semiconductor | 0.37 | |
62 | Bristol-Myers Squibb | pharmacy | 0.36 | |
63 | Thermo Fisher Scientific | Laboratory outfitter | 0.36 | |
64 | Eli Lilly and Company | pharmacy | 0.35 | |
65 | Goldman Sachs | Banks | 0.34 | |
66 | Lowe's | retail trade | 0.34 | |
67 | United Parcel Service (B) | logistics | 0.34 | |
68 | Starbucks | System catering | 0.33 | |
69 | US Bancorp | Banks | 0.33 | |
70 | ConocoPhillips | oil and gas | 0.33 | |
71 | Time Warner | media | 0.32 | |
72 | Lockheed Martin | Aircraft construction | 0.32 | |
73 | NextEra Energy | Supplier | 0.31 | |
74 | American Express | Credit card system | 0.30 | |
75 | Morgan Stanley | Financial services | 0.30 | |
76 | CVS Health | pharmacy | 0.29 | |
77 | Micron Technology | semiconductor | 0.28 | |
78 | EOG Resources | oil and gas | 0.28 | |
79 | Charles Schwab Corporation | Financial services | 0.28 | |
80 | PNC Financial Services | Financial services | 0.28 | |
81 | FedEx | logistics | 0.27 | |
82 | BlackRock | Financial services | 0.27 | |
83 | Biogenic | biotechnology | 0.27 | |
84 | Occidental Petroleum | oil and gas | 0.27 | |
85 | Danaher Corporation | Conglomerate | 0.26 | |
86 | Automatic data processing | Business services | 0.26 | |
87 | Becton Dickinson | Medical technology | 0.26 | |
88 | Anthem | Insurance | 0.26 | |
89 | Aetna | Insurance | 0.25 | |
90 | American Tower | telecommunications | 0.25 | |
91 | Mondelēz International (A) | food | 0.25 | |
92 | Chubb Limited | Insurance | 0.25 | |
93 | TJX Companies | retail trade | 0.25 | |
94 | Celgene | pharmacy | 0.24 | |
95 | Activision Blizzard | Entertainment software | 0.24 | |
96 | Raytheon | armor | 0.24 | |
97 | CSX Corporation | transport | 0.24 | |
98 | Allergan plc (formerly Actavis) | pharmacy | 0.24 | |
99 | Bank of New York Mellon | Banks | 0.24 | |
100 | CME Group (A) | Exchanges | 0.24 | |
101 | Northrop Grumman | Defense industry | 0.23 | |
102 | Intuitive Surgical | Medical technology | 0.23 | |
103 | Colgate-Palmolive | Consumer goods | 0.23 | |
104 | Walgreens Boots Alliance | pharmacy | 0.23 | |
105 | Charter Communications (A) | telecommunications | 0.23 | |
106 | General Motors | Automotive industry | 0.23 | |
107 | Stryker Corporation | Medical technology | 0.22 | |
108 | General Dynamics | armor | 0.22 | |
109 | S&P Global | Financial services | 0.22 | |
110 | Applied Materials | Plant construction | 0.22 | |
111 | Duke Energy | Supplier | 0.21 | |
112 | Simon Property | property | 0.21 | |
113 | Intuit | software | 0.21 | |
114 | Valero Energy | oil and gas | 0.21 | |
115 | American International Group | Insurance | 0.20 | |
116 | Deere & Company | Agricultural machinery | 0.20 | |
117 | Phillips 66 | oil and gas | 0.20 | |
118 | MetLife | Insurance | 0.20 | |
119 | 21st Century Fox | media | 0.19 | |
120 | Emerson Electric | Conglomerate | 0.19 | |
121 | Capital One | Banks | 0.19 | |
122 | Express Scripts | pharmacy | 0.19 | |
123 | ford | Automotive industry | 0.19 | |
124 | Praxair | chemistry | 0.19 | |
125 | Illinois Tool Works | Conglomerate | 0.19 |
Further stock indices in the USA
- Dow Jones Industrial Average (30 largest US public companies)
- NYSE Composite (all NYSE companies )
- Nasdaq Composite (all NASDAQ companies )
- NASDAQ-100 (100 of the largest NASDAQ technology companies)
- Russell 2000 (2000 US small caps)
- S&P 100 (100 largest U.S. public companies)
- Wilshire 5000 (all US public companies)
Web links
Individual evidence
- ↑ Jblaustein.de: Foreign withholding tax ( Memento from May 18, 2013 in the Internet Archive )
- ↑ Standard & Poor's: S&P 500 Fact Sheet
- ↑ Chicago Board of Exchange: CBOE Volatility Index (VIX)
- ^ Standard & Poor's: History of the S&P 500
- ↑ Frankfurter Allgemeine Zeitung: Foreign values in the S&P 500 are replaced. July 10, 2002, accessed May 16, 2014 .
- ↑ http://moneymorning.com/2014/06/23/more-sp-500-companies-to-move-overseas-and-thats-a-good-thing-for-investors/
- ↑ Financial News: S&P 500 actual volatility at highest since 1929 , dated November 21, 2008
- ↑ Spiegel Online: Buying government bonds: Investors cheer Draghi's euro promise , July 26, 2012
- ↑ Spiegel Online: ECB Council meeting: Draghi announces unlimited bond purchases , September 6, 2012
- ^ Spiegel Online: Fed chief: Bernanke counts on the big flood of money , September 13, 2012
- ↑ Spiegel Online: Bond purchase: US Federal Reserve starts new economic program , December 12, 2012
- ↑ a b c Stooq: S&P 500 from 1789 (daily)
- ↑ a b Yahoo: S&P 500 from 1950 (daily)
- ↑ Chicago Board Options Exchange: S&P 500 TR from 1986 (monthly) ( MS Excel ; 97 kB)
- ↑ Stooq: DAX from 1959 (daily)
- ↑ Yahoo: DAX from 1990 (daily)
- ↑ Federal Reserve Bank of New York: The Puzzling Pre-FOMC Announcement “Drift,” July 11, 2012
- ^ Fiduciary Capital Growth Fund: Historical Price / Earnings Ratio Standard & Poor's 500 Stock Index, 1871 to 1996 In: Quarterly Report December 31, 1996
- ↑ a b Standard & Poor's: S&P 500 Historical Average Price to Earnings Ratio ( Memento from July 5, 2011 in the Internet Archive ) ( MS Excel ; 39 kB)
- ↑ NYSE: All trading interruptions on the New York Stock Exchange since 1885 ( Memento of the original from September 25, 2007 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 142 kB)
- ^ A b Wall Street Journal: Best and Worst Days
- ↑ a b c d e f Bryan Taylor: GFD Guide to Best and Worst Investment Periods. ( Memento of the original from December 19, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Global Financial Data, 2002.
- ↑ a b EconStats: S&P 500 from 1950 (daily)
- ↑ a b EconStats: S&P 500 from 1950 (weekly)
- ↑ a b EconStats: S&P 500 from 1950 (monthly)
- ↑ Global Financial Data: Stock Market Indices, 1800-1998 ( Memento from August 15, 2000 in the Internet Archive )
- ↑ 1Stock1: S&P 500 from 1975 (annually)
- ↑ a b Jeffrey A. Hirsch: Stock Trader's Almanac 2008. ( Page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. John Wiley & Sons, Hoboken NJ 2007, ISBN 0470109858
- ^ Standard & Poor's: Index Earnings
- ^ Standard & Poor's: Dividends Rate Change
- ^ Federal Reserve Bank of St. Louis: 10-Year Treasury Constant Maturity Rate
- ↑ Inflation Data: Historical US Inflation Rate
- ^ S&P 500 Component Weights