STOCK MARKET WATCH - Thursday, 11 March 2021

[Tansy_Gold]

STOCK MARKET WATCH, Thursday, 11 March 2021

Previous SMW:
SMW for 10 March 2021




AT THE CLOSING BELL ON 10 March 2021


Dow Jones 32,297.02 +464.28 (1.46%)
S&P 500 3,898.81 +23.37 (0.60%)
Nasdaq 13,068.83 -4.99 (0.038%)

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Market Condit*ions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:











Gold & Silver:






Petroleum:

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

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This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[elias7]

1. Question re nasdaq

I keep hearing about a tech bubble, but the nasdaq, the DOW and the s&p have performed pretty equally since last March’s crash, well, except now that the nasdaq has fallen off pace. When I overlay these indices, the only difference is that the nasdaq did not fall as far initially, probably because it would be expected to be least affected (and perhaps most benefit) from the pandemic.

I can’t seem to copy/paste the overlay here (on my ipad)...

[progree]

2. Depends on what starting point one chooses.

Last edited Wed Mar 10, 2021, 08:58 PM - Edit history (2)

If for example, I started January 1, 2020,

NASDAQ https://finance.yahoo.com/quote/%5EIXIC/history
S&P 500 https://finance.yahoo.com/quote/%5EGSPC/history

NASDAQ S&P 500
--------- ---------
8973     3231   Jan 1, 2020
13096     3899   Mar 10, 2021

+46%     +21     Percent increase

The trouble with the S&P 500 for comparison purposes to the NASDAQ is that the S&P 500 is strongly influenced by a few giant tech companies.

The S&P 500 equal weight index might be better, but darn it, it doesn't go back that far, grrrrrrrr
https://finance.yahoo.com/quote/%5ESPXEW/history?p=%5ESPXEW

So, here it the Invesco S&P 500 Equal Weight ETF (RSP), which is less heavily tech weighted
https://finance.yahoo.com/quote/RSP/history

1/1/20  113.72
3/10/21  139.59
+23%

A tedious process, sigh.

EDIT: Oops, I see you were comparing the NASDAQ to the Dow as well as to the S&P 500. I almost never compare to the Dow because it is a legacy price-weighted collection of just 30 hyper-cherry-picked stocks, but anyway

The Dow historic data is here: https://finance.yahoo.com/quote/%5EDJI/history?p=%5EDJI
1/1/20   28,538
3/10/21   32,297
+13.2%

So, to summarize, since January 1, 2020, the Dow is up 13.2%, the S&P 500 is up 21% (the equal-weight S&P 500 ETF is up 23%), and the Nasdaq is up 46%.

I picked January 1, 2020 since it is before the markets were influenced by Covid.

I don't think comparing to the bottom of the Covid crash in March 2020 is a good way to decide if a market sector is in a bubble or not.