March 24, 2005 |
The Standard & Poor's 500 index hit its record-high price five years ago today, at 1,527.46. The blue-chip S&P's zenith followed the bull-market peaks of the Dow Jones industrial average (on Jan. 14, 2000) and the Nasdaq composite index (on March 10 of that year). The S&P, which ended at 1,172.53 on Wednesday, is down 23.2% from its 2000 peak. Including dividends earned over the last five years, a buy-and-hold investor in the index is down about 17% from the high.
March 15, 1988 |
Standard & Poor's Corp. said Monday that it will restructure its widely followed index of 500 issues traded on the New York Stock Exchange, effective April 6. S&P's 500 composite stock price index will no longer contain a fixed number of industrial, utility, financial and transportation companies. The composite index currently includes four sector indexes with a set number of stocks: 400 industrials, 40 utilities, 40 financials and 20 transportation companies.
October 3, 1998 |
The Standard & Poor's 500 index will not list the stock that will result from the merger of Chrysler Corp. and Germany's Daimler-Benz, citing its long-standing policy of not including non-U.S. companies in the index. The omission will force mutual funds that buy stocks to reflect the performance of the S&P 500 to sell Chrysler holdings. Chrysler said it was disappointed with the decision but "confident that many other leading indices will embrace" DaimlerChrysler.
January 27, 2000 |
Conexant Systems Inc., the second-largest maker of semiconductors for communications equipment, will join the list of companies on Standard & Poor's Corp.'s S&P 500 Index, effective at the close of business Friday. S&P said in a press release Wednesday that the Newport Beach company will replace Consolidated Natural Gas Co. on the index. Consolidated is being acquired by Dominion Resources Inc., which already is a member of the S&P 500.
August 31, 2012 |
Sears Holdings Corp., one of the earliest members of the S&P 500, is being kicked out of the stock index next week and replaced by a Dutch chemicals company. The retailer, which trades on Nasdaq, will be dropped from the index when the market closes Sept. 4. LyondellBasell Industries in the Netherlands will take its place. Sears has struggled with falling sales, store closures, brand spinoffs and consumer skepticism. But its retail problems didn't cause its expulsion from the S&P 500. Instead, the number of shares Sears made available to the public, known as the "public float," "has been well below the 50% threshold for inclusion for an extended period of time and is no longer considered representative of the index," according to a statement from S&P Dow Jones Indices.
March 25, 2003 |
Shares of Symantec Corp. rose in after-hours trading Monday after Standard & Poor's Corp. said the world's largest anti-virus software maker will be added to the S&P 500 index. The Cupertino, Calif.-based company's stock rose to $40.60 after falling $3.47 to $39.09 in regular New York Stock Exchange trading. Symantec will replace Household International Inc., a financial services firm that is being acquired by HSBC Holdings, in the benchmark S&P 500 after the close of trading Friday, S&P said.
May 6, 1997 |
Advanced Micro Devices Inc. is California's star member of the Standard & Poor's 500-stock index, as measured by stock price increase over the last year. Moreover, AMD's 113% stock price surge was second overall in the S&P, topped only by Dell Computer Corp. of Austin, Tex. Nipping at AMD's heels in this category is much larger Intel Corp.
December 29, 2011 |
The Standard & Poor's 500 index is once again in the red for 2011. A rough day on the markets Wednesday yanked the benchmark index back into negative territory with just two trading days left for the year. The index ended Wednesday down 1.3%, or 15.79 points, at 1,249.64. That is 0.6% below where it began 2011. The Dow Jones industrial average ended the day down 1.1%, or 139.94 points, at 12,151.41. It is still up 5% for the year. Investors were rattled by reports that European banks had borrowed large sums from the European Central Bank without lending most of it out, highlighting risks still present in the continent's economy.
December 24, 2009 |
In Wall Street's horse race among stock sectors this year it won't be a photo finish: Big-name technology shares are way out front and still pulling away from the field. Among the 10 major industry sectors in the Standard & Poor's 500 index, tech stocks have rallied 59% in 2009, on average, led by well-known names such as Google Inc. (up 99%), Microsoft Corp. (59%) and IBM Corp. (59%). The tech sector's advance far outpaces the index's second-best sector, basic-materials stocks, which are up nearly 46% year-to-date on average.
February 23, 1999 |
The Vanguard Group is famed for its nautical imagery, but it was mutual funds archrival Fidelity Investments that patched a leaky ship last year. Fidelity in 1998 logged some of its best performance results since the early 1990s, with several of its biggest and most visible stock funds beating the blue-chip Standard & Poor's 500 index. The flagship, $83.6-billion Magellan fund, for example, zoomed 33.6% last year, beating the S&P's 28.6% total return.