Tuesday, March 31, 2009
Now that stock trading for the month of March has come to an end on Wall Street, the final results are being hailed as the best performance by equities in more than six years.It's kind of hard to reconcile that headline with the stories below it...
More importantly, how does the March performance look in a broader perspective? You have to dig a little bit to get that answer. For the month that "comes in like a lion and goes out like a lamb", the Dow rose 7.7 percent, the Nasdaq gained 10.9 percent, and the S&P500 was up 8.5 percent.
Naturally, the sorely lacking context here is that March followed six of the worst months in stock market history and all three indexes are still underwater for the year, down 13.3 percent, 3.1 percent, and 11.7 percent, respectively.