Stock Price Movements Since Their Late-April Peak
September 1, 2010
The Dow Jones Industrial average is 8.5% below its closing on April 26 in spite of the very robust beginning to September. That loss is greater than the net decline of 6.9% in the British Ftse and the 4.0% drop of the German Dax from their highest closing levels in late April. But the Dow’s loss is substantially less than the 20.4% bear market plunge of the Japanese Nikkei. The period of time observed was marginally more than a third of a year.
The worst day of the week for the Dow has been Friday. On those days, the DJIA fell by 0.6% on average. The second to weakest day has been Tuesday, when the DOW posted an average daily decline of 0.3%. Monday’s were the best day with a mean advance of 0.2%. Wednesday’s were a neutral day (no change on balance overall), with nine instances of decline, seven of rise, and two with no change. On Thursdays, the DOW on averaged edged 0.1% lower.
In the first trading sessions of the month such as today, the market performed better than on any of the above five day-of-the-week groups. Counting today’s action through the first two and a half hours on the ticker, the Dow on average appreciated by 0.8% on the first day of each month.
Copyright Larry Greenberg 2010. All rights reserved. No secondary distribution without express permission.
Tags: stock price performance
ShareThis
