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

S&P 500 Index 1789-2012

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

S&P 500 Index 1950-2007

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 from 1950 to 2008 with trend lines (connecting lines between highs and lows)

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

S&P 500 P / E ratio and US interest rate 1881 to 2008

S&P 500 (above) and KGV (below) 1988 to 2007

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.

First close over Final score in points date 25th 25.07 January 22, 1929 50 50.06 September 30, 1958 100 100.38 4th June 1968 150 150.88 March 1, 1983 200 201.41 November 21, 1985 250 250.84 June 30, 1986 300 301.16 March 23, 1987 350 351.52 August 24, 1989 400 404.84 December 26, 1991 450 454.71 March 8, 1993 500 500.97 March 24, 1995 550 551.07 June 22, 1995 600 600.07 November 17, 1995 650 656.07 February 8, 1996 700 701.46 4th October 1996 750 757.03 November 25, 1996 800 802.77 February 12, 1997 850 858.01 June 6, 1997 900 904.03 July 2, 1997 950 950.30 4th August 1997 1,000 1,001.27 February 2, 1998

First close over Final score in points date 1,100 1,105.65 March 24, 1998 1,200 1,202.84 December 21, 1998 1,300 1,307.26 March 15, 1999 1,400 1,403.28 July 9, 1999 1,500 1,500.64 March 22, 2000 1,600 1,614.42 May 3, 2013 1,700 1,706.87 1 August 2013 1,800 1,804.76 22nd of November 2013 1,900 1,900.53 May 23, 2014 2,000 2,000.02 August 26, 2014 2,100 2,100.34 17th February 2015 2,200 2,202.94 22nd November 2016 2,300 2,307.87 February 9, 2017 2,400 2,402.32 15th May 2017 2,500 2,500.23 15th September 2017 2,600 2,602.42 November 24, 2017 2,700 2,713.06 January 3, 2018 2,800 2,802.46 17th January 2018 2,900 2,907.41 April 12, 2019 3,000 3,013.77 12th July 2019 3,100 3,120.46 15th November 2019

First close over Final score in points date 3,200 3,205.37 19th December 2019 3,300 3,316.81 January 16, 2020

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	0Oct 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	05th 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	0Aug 3, 1932	6.39	0.52	8.86
12	0Oct 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	0June 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	0May 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	0Jan. 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	0Apr 9, 1938	10.27	0.65	6.76
32	0June 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	0Oct. 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	0Aug 6, 1932	7.22	0.42	6.18
41	0Nov 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	0Nov 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	0June 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	0Nov 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	0Dec 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	0Oct 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	0Oct 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	0Jan. 8, 1988	243.40	−17.67	−6.77
25th	03rd 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	0Aug 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	0Oct 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	0June 8, 1932	4.57	−0.28	−5.77
43	Sep 14 1932	7.35	−0.45	−5.77
44	0Oct 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	0Sep 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	0Aug 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	0Apr 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	0Sep 9 1939	12.74	1.21	10.49
18th	Oct 31, 2008	968.75	91.98	10.49
19th	0Jan. 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	0Oct. 1, 1938	12.46	1.10	9.68
23	Oct. 30, 1937	12.36	1.08	9.57
24	0June 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	0December 7, 1929	22.73	1.81	8.65
29	0Nov 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	0Oct 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	0Oct 3, 1931	9.37	−1.36	−12.67
8th	0Nov 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	0Apr 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	0May 3, 1930	22.84	−2.53	−9.97
19th	0Nov 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	0Oct 3, 2008	1,099.23	−114.04	−9.40
23	0Apr 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	0Dec 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
0June 1, 1932	4.40	0Sep 7 1932	9.31	111.6	98
Feb. 27, 1933	5.53	0Feb 6, 1934	11.82	113.7	344
14 Mar 1935	8.06	06th Mar 1937	16.68	106.9	723
31 Mar 1938	8.50	0Nov 9, 1938	13.79	62.2	223
0Apr 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	0Jan. 5, 1953	26.66	96.8	1,302
Sep 14 1953	22.71	0Aug 2, 1956	49.74	119.0	1,053
Oct 22, 1957	38.98	0Aug 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	0Feb 9, 1966	94.06	79.8	1,324
0Oct 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
0Oct 3, 1974	62.28	21 Sep 1976	107.83	73.1	719
06th 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
0Dec. 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	0Jan. 4, 2002	1,172.51	21.4	105
0Oct 9, 2002	776.76	0Oct 9, 2007	1,565.15	101.5	1,826
09 Mar 2009	676.53	Apr 29, 2011	1,363.61	101.6	781
0Oct 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	0June 1, 1932	4.40	−83.0	783
0Sep 7 1932	9.31	Feb. 27, 1933	5.53	−40.6	173
0Feb 6, 1934	11.82	14 Mar 1935	8.06	−31.8	401
06th Mar 1937	16.68	31 Mar 1938	8.50	−49.0	390
0Nov 9, 1938	13.79	0Apr 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
0Jan. 5, 1953	26.66	Sep 14 1953	22.71	−14.8	252
0Aug 2, 1956	49.74	Oct 22, 1957	38.98	−21.6	446
0Aug 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
0Feb 9, 1966	94.06	0Oct 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	0Oct 3, 1974	62.28	−48.2	630
21 Sep 1976	107.83	06th 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	0Dec. 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
0Jan. 4, 2002	1,172.51	0Oct 9, 2002	776.76	−33.8	278
0Oct 9, 2007	1,565.15	09 Mar 2009	676.53	−56.8	517
Apr 29, 2011	1,363.61	0Oct 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).

Quarters with the highest P / E ratio rank date P / E ratio 1 June 30, 2009 122.41 2 31 Mar 2009 116.31 3 Sep 30 2009 84.30 4th Dec 31, 2008 60.70 5 Dec 31, 2001 46.50 6th 31 Mar 2002 46.45 7th June 30, 2002 37.02 8th Sep 30 2001 36.77 9 31 Mar 1999 33.52 10 June 30, 1999 33.46 11 June 30, 2001 33.28 12 Dec 31, 1998 32.60 13 Dec 31, 2002 31.89 14th Dec 31, 1999 30.50 15th 31 Mar 2000 29.41 16 Sep 30 1999 29.18 17th June 30, 1998 29.10 18th June 30, 2003 28.21 19th June 30, 2000 28.02 20th 31 Mar 2003 27.97 21st 31 Mar 1998 27.86 22nd Sep 30 2002 27.14 23 Sep 30 2000 26.75 24 Sep 30 1998 26.70 25th Dec. 31, 2000 26.41 26th Dec 31, 1991 26.12 27 Sep 30 2003 25.82 28 31 Mar 2001 25.54 29 Sep 30 2008 25.38 30th 31 Mar 1992 24.93

Quarters with the lowest P / E ratio rank date P / E ratio 1 June 30, 1949 5.90 2 31 Mar 1949 6.33 3 Sep 30 1949 6.52 4th Dec 31, 1948 6.64 5 31 Mar 1980 6.68 6th June 30, 1950 6.96 7th Sep 30 1974 6.97 8th Sep 30 1950 7.15 9 Dec 31, 1950 7.19 10 December 31, 1949 7.22 11 Dec 31, 1979 7.26 12 31 Mar 1950 7.30 13 June 30, 1979 7.36 14th Sep 30 1979 7.47 15th Sep 30 1948 7.48 16 December 31, 1941 7.49 17th 31 Mar 1951 7.56 18th 31 Mar 1982 7.56 19th Sep 30 1981 7.61 20th 31 Mar 1979 7.64 21st June 30, 1980 7.65 22nd 31 Mar 1942 7.70 23 June 30, 1951 7.71 24 Dec. 31, 1974 7.71 25th June 30, 1982 7.74 26th Dec. 31, 1978 7.79 27 Dec 31, 1981 7.98 28 31 Mar 1978 8.17 29 June 30, 1942 8.47 30th June 30, 1978 8.51

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

• Index at Standard & Poor's
• Index at Bloomberg
• Index at Yahoo

Individual evidence

1. ↑ Jblaustein.de: Foreign withholding tax ( Memento from May 18, 2013 in the Internet Archive )
2. ↑ Standard & Poor's: S&P 500 Fact Sheet
3. ↑ Chicago Board of Exchange: CBOE Volatility Index (VIX)
4. ^ Standard & Poor's: History of the S&P 500
5. ↑ Frankfurter Allgemeine Zeitung: Foreign values ​​in the S&P 500 are replaced. July 10, 2002, accessed May 16, 2014 . 
6. ↑ http://moneymorning.com/2014/06/23/more-sp-500-companies-to-move-overseas-and-thats-a-good-thing-for-investors/
7. ↑ Financial News: S&P 500 actual volatility at highest since 1929 , dated November 21, 2008
8. ↑ Spiegel Online: Buying government bonds: Investors cheer Draghi's euro promise , July 26, 2012
9. ↑ Spiegel Online: ECB Council meeting: Draghi announces unlimited bond purchases , September 6, 2012
10. ^ Spiegel Online: Fed chief: Bernanke counts on the big flood of money , September 13, 2012
11. ↑ Spiegel Online: Bond purchase: US Federal Reserve starts new economic program , December 12, 2012
12. ↑ ^{a b c} Stooq: S&P 500 from 1789 (daily)
13. ↑ ^{a b} Yahoo: S&P 500 from 1950 (daily)
14. ↑ Chicago Board Options Exchange: S&P 500 TR from 1986 (monthly) ( MS Excel ; 97 kB)
15. ↑ Stooq: DAX from 1959 (daily)
16. ↑ Yahoo: DAX from 1990 (daily)
17. ↑ Federal Reserve Bank of New York: The Puzzling Pre-FOMC Announcement “Drift,” July 11, 2012
18. ^ Fiduciary Capital Growth Fund: Historical Price / Earnings Ratio Standard & Poor's 500 Stock Index, 1871 to 1996 In: Quarterly Report December 31, 1996
19. ↑ ^{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)
20. ↑ 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) 
21. ^ ^{A b} Wall Street Journal: Best and Worst Days
22. ↑ ^{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. 
23. ↑ ^{a b} EconStats: S&P 500 from 1950 (daily)
24. ↑ ^{a b} EconStats: S&P 500 from 1950 (weekly)
25. ↑ ^{a b} EconStats: S&P 500 from 1950 (monthly)
26. ↑ Global Financial Data: Stock Market Indices, 1800-1998 ( Memento from August 15, 2000 in the Internet Archive )
27. ↑ 1Stock1: S&P 500 from 1975 (annually)
28. ↑ ^{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  
29. ^ Standard & Poor's: Index Earnings
30. ^ Standard & Poor's: Dividends Rate Change
31. ^ Federal Reserve Bank of St. Louis: 10-Year Treasury Constant Maturity Rate
32. ↑ Inflation Data: Historical US Inflation Rate
33. ^ S&P 500 Component Weights