1977
TABLE B-87.—Common stock prices and yields, 1949-76
Common stock yields
Common stock prices * (percent)«
Period New York Stock Exchange indexes Standard
(December 31,1965=50)2 Dow- & Poor's
Jones composite Dividend- Earnings-
industrial index price price
Com- Indus- Trans- average 3 0941-43= ratio« ratio '
posite trial portation Utility Finance lO)*
1949 9 02 179.48 15.23 6.59 15.48
1950 10.87 216.31 18.40 6 57 13 99
1951 13 08 257.64 22.34 6.13 11.82
1952 13.81 270.76 24.50 5.80 9.47
1953 13.67 275.97 24.73 5 80 10 26
1954 16.19 333.94 29.69 4.95 8 57
1955 21.54 442.72 40 49 4 08 7 95
1956 24.40 493.01 46.62 4 G9 7 55
1957 23 67 475.71 44.38 4.35 7.89
1958 24 56 491.66 46.24 3.97 6.23
1959 30.73 632.12 57.38 3.23 5.78
1960 30.01 618.04 55.85 3.47 5.90
1961 35.37 691. 55 66.27 2.98 4.62
1962 33 49 639.76 62.38 3 37 5 82
1963 37.51 714.81 69.87 3.17 5.50
1964 43.76 834.05 81.37 3.01 5.32
1965 47 39 910.88 88.17 3 00 5.59
1966 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 6.08
1970 . . . . 45.72 48.03 32.14 37.24 60.00 753.20 83.22 3.83 6.45
1971 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.04
1976 54 46 60 44 39.57 36.97 52.94 974.92 102.01 3.77
1975- Jan 38 56 41 29 28.12 29.55 44.85 659.09 72.56 5.07
Feb 42.48 46.00 30.21 31.31 47.59 724.89 80.10 4.61
Mar 44.35 48.63 31.62 31.04 47.83 765.06 83.78 4.42 10.10
Apr 44 91 49.74 31.70 30.01 47.35 790.93 84.72 4.34
May 47 76 53 22 32.28 31.02 50.06 836. 56 90.10 4.08
June 49.22 54.61 32.38 32.79 52.20 845.70 92.40 4.02 8.30
July 49 54 54 96 32.90 32.98 52.51 856.28 92.49 4.02
Aug 45 71 50 71 30 08 31 02 46 55 815. 51 85 71 4.36
Sept 44.97 50.05 29.46 30.65 43.38 818.28 84.67 4.39 9.13
Oct 46.87 52.26 30.79 31.87 44.36 831.26 88.57 4.22
Nov 47 64 52.91 32.09 32.99 45.10 845. 51 90.07 4.07
Dec 46.78 51.89 31.61 32.75 43.86 840.80 88.70 4.14 8.64
1976" Jan 51 31 57 00 35.78 35.23 48.83 929.34 96.86 3.80
Feb 53.73 59.79 38.53 36.12 52.06 971. 70 100.64 3.67
Mar. . 54.01 60.30 39.17 35.43 52.61 988. 55 101.08 3.65 8.29
Apr 54 28 60 62 38.66 35.69 52.71 992. 51 101.93 3.66
May 53 87 60 22 39.71 35.40 50.99 988.82 101.16 3.76
June 54.23 60.70 40.41 35.16 51.82 985.59 101.77 3.75 8.76
July 55 68 62 11 42.12 36.49 54.06 993.20 104.20 3.64
Aug 55.18 61.14 40.63 37.56 54.22 981.63 103.29 3.74
Sept 56.29 62.35 40.36 38.77 54.52 994.37 105.45 3.71 9.02
Oct 54 43 60 07 38.37 38.33 52.74 951.95 101.89 3.85
Nov 54 17 59 45 39.28 38 85 53.25 944. 58 101.19 4.04
Dec 56.34 61.54 41.77 40.61 57.45 976.86 104. 66 3.93
* Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing
prices.
2
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
3 Includes 30 stocks.
«Includes 500 stocks.
« Standard and Poor's series, based on 500 stocks in the composite index.
e Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednes-
day closing prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7
Ratio of quarterly earnings (seasonally adjusted annual rate) to price index for last day of quarter. Annual ratios are
averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow-Jones & Co., Inc., and Standard & Poor's Corporation.
288
1978
TABLE B-90.—-Business formatiori and business failures, 1929—77
Business failures1
Amount of current
Index New Number of failures liabilities (millions
of net business of dollars)
Year or month business rations ness Liability size Liability size
formation (num- failure class class
(1967-100) ber) rates
Total Total
Under $100,000
and Under $100,000
and
$100,000 over $100,000 over
1929 103.9 22,909 22,165 744 483.3 261.5 221.8
1933» 100.3 19,859 18,880 979 457.5 215.5 242.0
1939» 69.6 14,768 14,541 in 182.5 132.9 49.7
1940 63.0 13,619 13,400 219 166.7 119.9 46.8
1941 . 54.4 11,848 11,685 163 136.1 100.7 35.4
1942 44.6 9,405 9,282 123 100.8 80.3 20.5
1943 16.4 3,221 3,155 66 45.3 30.2 15.1
1944 6.5 1,222 1,176 46 31.7 14.5 17.1
1945 4.2 809 759 50 30.2 11.4 18.8
1946 132.916 5.2 1,129 1,003 126 67.3 15.7 51.6
1947 112,897 14.3 3,474 3,103 371 204.6 63.7 140.9
1948 112.6 96,346 20.4 5,250 4,853 397 234.6 93.9 140.7
1949 87.8 85,640 34.4 9,246 8,708 538 308.1 161.4 146.7
1950 . . . . 93.1 93,092 34.3 9,162 8,746 416 248.3 151.2 97.1
1951 93.3 83,778 30.7 8,058 7,626 432 259.5 131.6 128.0
1952 98.2 92,946 28.7 7,611 7,081 530 283.3 131.9 151.4
1953 94.4 102,706 33.2 8,862 8,075 787 394.2 167.5 226.6
1954 91.3 117,411 42.0 11,086 10,226 860 462.6 211.4 251.2
1955 99.1 139,915 41.6 10,969 10,113 856 449.4 206.4 243.0
1956 95.2 141,163 48.0 12,686 11,615 1,071 562.7 239.8 322.9
1957 90.4 137,112 51.7 13,739 12,547 1,192 615.3 267.1 348.2
1958 89.5 150,781 55.9 14,964 13,499 1,465 728.3 297.6 430.7
1959 96.8 193,067 51.8 14,053 12,707 1,346 692.8 278.9 413.9
1960 92.4 182,713 57.0 15,445 13,650 1,795 938.6 327.2 611.4
1961 88.3 181,535 64.4 17,075 15,006 2,069 1,090.1 370.1 720.0
1962 90.7 182,057 60.8 15,782 13,772 2,010 1,213.6 346.5 867.1
1963 . 93.3 186,404 56.3 14,374 12,192 2,182 1,352.6 321.0 1,031.6
1964 . . . 97.2 197,724 53.2 13,501 11,346 2,155 1,329.2 313.6 1,015.6
1965 98.6 203,897 53.3 13,514 11,340 2,174 1,321.7 321.7 1,000.0
1966 98.2 200,010 51.6 13,061 10,833 2,228 1,385.7 321.5 1,064.1
1967 100.0 206,569 49.0 12,364 10,144 2,220 1,265.2 297.9 967.3
1968 109.8 233,635 38.6 9,636 7,829 1,807 941.0 241.1 699.9
1969 116.2 274,267 37.3 9,154 7,192 1,962 1,142.1 231.3 910.8
1970 . 108.0 264,209 43.8 10,748 8,019 2,729 1,887.8 269.3 1,618.4
1971 111.0 287,577 41.7 10,326 7,611 2,715 1,916.9 271.3 1,645.6
1972 117.9 316,601 38.3 9,566 7,040 2,526 2,000.2 258.8 1,741.5
1973 117.9 329,358 36.4 9,345 6,627 2,718 2,298.6 235.6 2,063.0
1974 . 112.4 319,149 38.4 9,915 6,733 3,182 3,053.1 256.9 2,796.3
1975 108.9 326, 345 42.6 11,432 7,504 3,928 4, 380.2 298.6 4,081.6
1976 117.6 375,766 34.8 9,628 6,176 3,452 3,011.3 257.8 2,753.4
Seasonally adjusted
1976: Jan 115.4 29,639 36.9 886 530 356 257.1 22.0 235.1
Feb. . 114.5 29, 043 38.2 867 572 295 211.8 23.9 187.8
Mar 116.3 31,027 36.3 965 618 347 247.7 26.0 221.6
Apr 115.7 29,876 35.4 888 587 301 206.4 23.1 183.3
May 114.9 28, 637 35.0 835 546 289 233.3 23.3 210.0
June 118.6 31, 600 32.7 775 498 277 373.6 20.3 353.3
July 117.8 30,114 31.2 689 458 231 305.6 19.1 286.5
Aug."::::""::: 117.8 32, 746 35.7 798 498 300 264.0 21.5 242.4
Sept 118.3 32, 368 34.9 714 454 260 250.3 18.4 231.9
Oct. . 120.1 32,887 34.7 745 496 249 183.6 20.4 163.2
Nov 121.3 33,496 33.8 770 509 261 277.6 21.1 256.5
Dec. . 121.0 33,495 32.0 696 410 286 200.4 18.6 181.9
1977: Jan. 123.3 34, 519 28.4 664 418 246 168.5 17.7 150.9
Feb 123.0 33,173 29.6 693 425 268 194.2 18.3 175.9
Mar 124.3 35,000 32.3 858 515 343 248.2 21.7 226.5
Apr _. 122.4 33, 394 31.8 804 520 284 207.3 22.1 185.2
May 123.2 34,442 30.2 724 440 284 473.9 18.4 455.4
June.. _ _ 125.8 37,229 30.8 732 455 277 305.9 19.2 286.7
July _ ._ 126.6 35,749 24.1 513 325 188 577.8 14.2 563.6
Au? 130.6 39,525 29.7 687 401 286 338.3 18.5 319.7
Sept _ 129.6 37,812 27.0 560 342 218 97.0 14.0 83.0
Oct 131 9 38 943
NOVP. . 38|472
i Commercial and industrial failures only. Excludes failures of banks end railroads and, beginning 1933, of real estate,
insurance, holding, and financial companies, steamship lines, travel agencies, etc.
» Failure rate per 10,000 listed enterprises.
s Series revised; not strictly comparable with earlier data.
Sources: Department of Commerce (Bureau of Economic Analysis) and Dun & Bradstreet. Inc.
361
1979
TABLE B-88.—Common stock prices and yields, 1949-78
Common stock prices1 Common stock yields
(percent) *
Year New York Stock Exchange indexes Standard
or (December 31,1965=50)* Dow- & Poor's
quarter Jones omposite Dividend- Earnings-
ndustrial index price price
Com- Indus- Trans- Utility Finance average 3 1941-43= ratio • ratio'
posite trial portation 10)*
1949 9.02 179 48 15 23 6 59 15 48
1950 10 87 216 31 18 40 6 57 13 99
1951 13.08 257.64 22.34 6 13 11 82
1952 13.81 270.76 24.50 5.80 9.47
1953 13.67 275.97 24.73 5.80 10.26
1954 16.19 333.94 29.69 4.95 8 57
1955 21.54 442.72 40.49 4.08 7.95
1956 24.40 493.01 46.62 4 09 7 55
1957 23 67 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 30.73 632.12 57.38 3.23 5.78
1960 30 01 618.04 55.85 3.47 5.90
1961 35.37 691.55 66.27 2.98 4 62
1962 33.49 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5 50
1964 43.76 834.05 81.37 3.01 5.32
1965 47 39 910 88 88 17 3 00 5 59
1966. . 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57.42 63 08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 - . 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 40.92 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28
1977: Jan 56.28 61 26 41.93 41.13 57.86 970.62 103.81 3.99
Feb 54.93 59.65 40.59 40.86 55.65 941.77 100.96 4.21
a
Mr 54.67 59 56 40.52 40.18 54.84 946 11 100.57 4.37 10.24
Apr 53.92 58.47 41.51 40.24 54.30 929.10 99.05 4.47
May 53.96 58 13 43.25 41.14 54.80 926 31 98.76 4.57
June 54.30 58.44 43.29 41.59 55.29 916.56 99.29 4.60 10.37
July 54.94 58.90 43.52 42.44 57.29 908.20 100.18 4.59
Aug 53.51 57.30 41.04 41.50 56.52 872.26 97.75 4.72
Sept 52.66 56.41 39.99 40.93 55.33 853.30 96.23 4.82 11.09
Oct 51.37 54.99 38.33 40.38 53.24 823.96 93.74 4.97
Nov 51.87 55.62 39.30 40.33 54.04 828.51 94.28 5.02
Dec 51.83 55.55 39.75 40.36 53.85 818.80 93.82 5.11 11.45
1978: Jan 49.89 53.45 39.15 39.09 50.91 781.09 90.25 5.32
Feb 49.41 52.80 38.90 39.02 50.60 763.57 88.98 5.49
Mar. 49.50 52.77 38.95 39.26 51.44 756.37 88.82 5.62 12.25
Apr 51.75 55.48 41.19 39.69 55.04 794.66 92.71 5.42
May 54.49 59.14 44.21 39.47 57.96 838.56 97.41 5.20
June 54.83 59.63 44.19 39.41 58.31 840.26 97.66 5.19 11.79
July 54.61 59.35 44.74 39.28 57.97 831.72 97.19 5.25
Aug 58.53 64.07 49.45 40.20 63.28 887.93 103.92 4.93
Sept 58.58 64.23 50.19 39.82 63.22 878.64 103.86 4.97 11.36
Oct 56.40 61.60 46.70 39.44 60.42 857.69 100.58 5.11
Nov 52.74 57.50 41.80 37.88 54.95 804.29 94.71 5.45
Dec 53.69 58.72 42.49 38.09 55.68 807.94 96.11 5.39
1
Averages of daily closing prices, except New York Stock Exchange data through May 1964, are averages of weekly closing
prices.
2
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
3 Includes 30 stocks.
« Includes 500 stocks.
5
6
Standard & Poor's series, based on 500 stocks in the composite index.
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednes-
day closing prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7 Ratio of quarterly earnings after taxes (seasonally adjusted annual rate) to price index for last day of quarter.
Annual ratios are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow-Jones & Co., Inc., and Standard & Poor's Corporation.
285
1980
TABLE B-89.—Common stock prices and yields, 1949-79
Common stock prices1 Common stock 5yields
(percent)
New York Stock Exchange indexes (Dec. 31, Standard
Year or quarter 1965=50) 2 Dow- & Poor's Dividend- Earnings-
Jones composiie price price
Composite Industrial Transpor- Utility Finance
industrial index ratio6 ratio7
tation average3 (1941-
43 = 10) 4
1949 9.02 179.48 15.23 6.59 15.48
1950 10.87 216.31 18.40 6.57 13.99
1951 13.08 257.64 22.34 6.13 11.82
1952 13.81 270.76 24.50 5.80 9.47
1953 13.67 275.97 24.73 5.80 10.26
1954 16.19 333.94 29.69 4.95 8.57
1955 21.54 442.72 40.49 4.08 7.95
1956 24.40 493.01 46.62 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 30.73 632.12 57.38 3.23 5.78
1960 30.01 618.04 55.85 3.47 5.90
1961 35.37 691.55 66.27 2.98 4.62
1962 33.49 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964 43.76 834.05 81.37 3.01 5.32
1965 47 39 910.88 8817 3.00 5.59
1966 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 40.92 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 38.21 61.42 844.40 103.01 5.45
1978:
Jan 49.89 53 45 3915 39 09 50.91 781.09 90.25 5.32
e
Fb 49 41 52 80 38 90 39 02 50 60 763 57 88 98 5 49
a
Mr 49.50 52.77 38.95 39.26 51.44 756.37 88.82 5.62 12.24
5175 55 48 4119 39 69 55 04 794 66 92 71 5 42
May 54 49 59.14 44.21 39.47 57.96 838.56 97 41 5.20
June 54.83 59.63 44.19 39.41 58.31 840.26 97.66 5.19 11.76
July
JUIJ
54.61 59.35 44.74 39.28 57.97 831.71 97.19 5 25
Aug 58 53 64 07 49 45 40 20 63 28 887 93 103 92 4 93
Sept 58.58 64.23 50.19 39.82 63.22 878.64 103.86 4.97 11.28
c
Ot 56.40 61.60 46.70 39.44 60.42 857.69 100.58 5.11
Nov 52.74 57.50 41.80 37.88 54.95 804.29 94.71 5.45
Dec 53.69 58.72 42.49 38.09 55.68 807.94 96.11 5.39 12.83
1979
Jan 55 77 61.31 43 69 38.83 57.59 837.39 99 71 5 28
Fb
e 55 08 60 37 42 27 39 21 56 09 825 18 98 23 5 43
a
Mr 56.19 61.89 43.22 38.94 57.65 847.84 100.11 5.36 13.09
57.50 63.63 45.92 38.63 59.50 864.96 102.07 5.35
May 56 21 62 21 45 60 37 48 58 80 837 41 99 73 5 58
June 57.61 63.57 47.54 38.44 61.87 838.65 101.73 5.53 13.58
July
JUIJ
58 38 64 24 48 85 38 88 64 43 836 95 102 71 5 50
Aug 61.19 67.71 52.48 39.26 68.40 873.55 107.36 5.30
Sept 61.89 69.17 52.21 38.39 67.21 878.50 108.60 5.31 13.27
Ot
c 59 27 66.68 48 09 36 58 6164 840 39 104 47 5.56
o
Nv 59.02 66.45 47.61 36.55 60.64 815.78 103 66 5.71
e
Dc 61.75 69.83 50.59 37.29 63.21 836.14 107.78 5.53
1
2
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
3
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
4
Includes 30 stocks.
5
Includes 500 stocks.
6
Standard & Poor's series, based on 500 stocks in the composite index.
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7
Ratio of quarterly earnings after taxes (seasonally adjusted annual rate) to price index for last day of quarter. Annual ratios are
averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow-Jones & Co., Inc., and Standard & Poor's Corporation.
307
1981
TABLE B-90.—Common stock prices and yields, 1949-80
Common stock prices * Common stock yields
(percent) s
New York Stock Exchange indexes (Dec. 31, Standard
Year or month 1965=50) 2 Dow- & Poor's
Jones Dividend- Earnings-
composite price
industrial index price
Transpor- ratio 6 ratio 7
Composite Industrial tation Utility Finance average3 (1941-
43=10)4
1949 9.02 179.48 15.23 6.59 15.48
1950 10.87 216.31 18.40 6.57 13.99
1951 13 08 257.64 22.34 6.13 11.82
1952 13.81 270.76 24.50 5.80 9.47
1953 13.67 275.97 24.73 5.80 10.26
1954 1619 333.94 29.69 4 95 8.57
1955 21.54 442.72 40.49 4.08 7.95
1956 24.40 493.01 46.62 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 . . . . 30.73 632.12 57.38 3.23 5.78
1960 30.01 618.04 55.85 3.47 5.90
1961 35.37 691.55 66.27 2.98 4.62
1962 33.49 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964. . . . . 43.76 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 ' 50.26 ' 45.41 44.45 ' 873.60 85.26 3.40 6.63
1967.. . . .. 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 60 29 65 73 50.17 38.48 78.35 950.71 109 20 2 84 5 50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 40.92 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5,28 12.03
1979 58.32 64.76 47.34 38.21 61.42 844.40 103.01 5.47 13.46
1980 68.10 78.70 60.61 37.35 64.25 891.41 118.78 5.26
1979:
Jan 55.77 61.31 43.69 38.83 57.59 837.39 99.71 5.33
Feb 55.08 60.37 42.27 39.21 56.09 825.18 98.23 5.48
Mar 56.19 61.89 43.22 38.94 57.65 847.84 100.11 5,41 13.09
57.50 63.63 45.92 38.63 59.50 864.96 102.07 5.35
May' ."..' ... 56.21 62.21 45.60 37.48 58.80 837.41 99.73 5.58
June 57.61 63.57 47.54 38.44 61.87 838.65 101.73 5.53 13.58
July... . . . 58.38 64.24 48.85 38.88 64.43 836.95 102.71 5.50
Aug 61.19 67.71 52.48 39.26 68.40 873.55 107.36 5.30
61.89 69.17 52.21 38.39 67.21 878.50 108.60 5.31 13.38
S1- • •.-.:•: 59.27 66.68 48.09 36.58 61.64 840.39 104.47 5.56
Nov 59.02 66.45 47.61 36.55 60.64 815.78 103.66 5.71
Dec 61.75 69.82 50.59 37.29 63.21 836.14 107.78 5.53 13.77
1980:
Jan 63 74 72 67 52 61 37 08 64 22 860 74 110 87 5 41
Feb 66.06 76.42 57.92 36.22 61.84 878.22 115.34 5.24
Mar 59.52 68.71 51.77 33.38 54.71 803.56 104.69 5.87 14.98
Apr 58 47 66 31 48.62 35.29 57.32 786.33 102.97 6.05
May .. 61.38 69.39 51.07 37.31 61.47 828.19 107.69 5.77
June 65.43 74.47 54.04 38.53 65.16 869.86 114.55 5.39 13.08
J""y 68.56 78.67 59.14 38.77 66.76 909.79 119.83 5.20
Aug 70.87 82.15 62.48 38.18 67.22 947.33 123.50 5.06
Sept . ... 73.12 84.92 65.89 38.77 69.33 946.67 126.51 4.90
Oct . 75.17 88.00 70.76 38.44 68.29 949.17 130.22 4.80
Nov . 78.15 92.32 77.23 38.35 67.21 971.08 135.65 4.63
Dec 76.69 90.37 75.74 37.84 67.46 945.96 133.48 4.74
1
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
2
Includes alt the stocks (more than 1,500) listed on the New York Stock Exchange.
3
Includes 30 stocks.
* Includes 500 stocks.
5
Standard & Poor's series, based on 500 stocks in the composite index.
6
Aggregate cash dividends {based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7
Ratio of quarterly earnings after taxes (seasonally adjusted annual rate) to price index for last day of quarter. Annual ratios are
averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow-Jones & Co., Inc., and Standard & Poor's Corporation.
335
1982
TABLE B-92.—Common stock prices and yields, 1949-81
Common stock prices1 Common stock 5yields
(percent)
New York Stock Exchange indexes (Dec. 31, 1965=50) 2 Standard
Year or month Dow- & Poor's Dividend- Earnings-
Jones composite price price
Composite Industrial Transpor- Utility ' Finance industrial index ratio 8 ratio'
tation average3 (1941-
43=10)*
1949 9.02 179.48 15.23 6.59 15.48
1950 10.87 216.31 18.40 6.57 13.99
1951 13.08 .'."....'."... .1. '.' 257.64 22.34 6.13 11.82
1952 13.81 270.76 24.50 5.80 9.47
1953 13.67 275.97 24.73 5.80 10.26
1954 16.19 333.94 29.69 4.95 8.57
1955 21.54 442.72 40.49 4.08 7.95
1956 24.40 493.01 46.62 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 30.73 632.12 57.38 3.23 5.78
1960 30.01 618.04 55.85 3.47 5.90
1961 35.37 691.55 66.27 2.98 4.62
1962 33.49 639.76 62.38 3.37 5.82
1963 3751 714.81 69.87 3.17 5.50
1964 43.76 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 "53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 40.92 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 38.20 61.42 844.40 103.01 5.47 13.46
1980 68.10 78.70 60.61 37.35 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 38.91 73.52 932.92 128.05 5.20
1980:
Jan 63.74 72.67 52.61 37.08 64.22 860.74 110.87 5.41
Feb 66.06 76.42 57.92 36.22 61.84 878.22 115.34 5.24
Mar 59.52 68.71 51.77 33.38 54.71 803.56 104.69 5.87 i'4.98
Apr 58.47 66.31 48.62 35.29 57.32 786.33 102.97 6.05
way ::. ;...~'."
June
61.38
65.43
69.39
74.47
51.07
54.04
37.31
38.53
61.47
65.16
828.19
869.86
107.69
114.55
5.77
5.39 13.08
Jufy. . 68.56 78.67 59.14 38.77 66.76 909.79 119.83 5.20
Aug 70.87 82.15 62.48 38.18 67.22 947.33 123.50 5.06
Sept 73.12 84.92 65.89 38.77 69.33 946.67 126.51 4.90 ii'.67
Oct. 75.17 88.00 70.76 38.44 68.29 949.17 130.22 4.80
Nov 78.15 92.32 77.23 38.35 67.21 971.08 135.65 4.63
Dec 76.69 90.37 75.74 37.84 67.46 945.96 133.48 4.74 10.92
1981:
Jan 76.24 89.23 74.43 38.53 70.04 962.13 132.97 4.80
Feb 73.52 85.74 72.76 37.59 68.48 945.50 128.40 5.00
Mar 76.46 89.39 77.09 37.82 72.82 987.18 133.19 4.88 10.72
77.60 90.57 80.63 38.34 74.59 1,004.86 134.43 4.86
t :•:::.•: ......
June
76.28
76.80
88.78
88.63
76.78
76.71
38,27
39.23
74.65
79.79
979.52
996.27
131.73
132.28
4.98
5.03 11.48
July
Aug
74.98
75.24
86.64 74.42 38.90
40.22
74.97 947.94 129.13 5.18
86.72 73.27 73.76 926.25 129.63 5.16
Sept „ 68.37 78.07 63.67 38.17 69.38 853.38 118.27 5.69
Oct 69.40 78.93 65.65 38.87 72.56 853.25 119.80 5.65
Nov 71.49 80.86 67.68 40.73 76.47 860.44 122.92 5.54
Dec 71.81 81.70 68.27 40.22 74.74 878.28 123.79 5.57
1
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
2
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
3
Includes 30 stocks.
4
Includes 500 stocks.
5
Standard & Poor's series, based on 500 stocks in the composite index.
6
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annul data are averages of monthly figures.
7
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual ratios are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow-Jones & Co., Inc., and Standard & Poor's Corporation.
337
1983
TABLE B-92.—Common stock prices and yields, 1949-82
Common stock prices1 Common stock yields
(percent) 5
New York Stock Exchange indexes (De ;. 31, 1965 = 50) 8 Standard
Year or month Dow & Poor's Dividend- Earnings-
Jones composite price
Transpor- industrial index price
Composite Industrial tation Utility Finance average3 (1941- ratio 6 ratio 7
43=10)4
1949 .. 9 02 179.48 15.23 6.59 15,48
1950 .. 10 87 216.31 18.40 6.57 13 99
1951 13.08 257.64 22.34 6.13 11.82
1952 13.81 270.76 24.50 5.80 9.47
1953 .. 13.67 275 97 24.73 5.80 10.26
1954 16.19 333.94 29.69 4.95 8,57
1955 21.54 442.72 40.49 4.08 7.95
1956 .. 24.40 493.01 46.62 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 24 56 491.66 46.24 3.97 6.23
1959 .. 30.73 632.12 57.38 3.23 5,78
1960 3001 618.04 55.85 3.47 5.90
1961 .. 35.37 691.55 66.27 2.98 4.62
1962 33 49 639.76 62.38 3.37 5.82
1963 37 51 714.81 69.87 3.17 5.50
1964 43 76 834.05 81.37 3.01 5.32
1965 .. 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 .. 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 .6.08
1970 .. 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 . 60 29 65.73 5017 38.48 78.35 950 71 109.20 2.84 5.50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 36,97 52.94 974.92 102.01 3.77 8.90
1977 .. . . 53.69 57.86 4109 40 92 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28 12.03
1979 .. 58.32 64.76 47.34 38.20 61.42 844.40 103.01 5.47 13.46
1980 .. 6810 78.70 60 61 37 35 64.25 89141 118.78 5.26 12.66
1981 74.02 85.44 72.61 38.91 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 39.75 71.99 884.36 119.71 5.81
1981:
Jan.. 7624 89.23 74 43 38 53 70.04 962.13 132.97 4.80
Feb 73.52 85.74 72.76 37.59 68.48 945.50 128.40 5.00
a
Mr 76.46 89.39 77.09 37.82 72.82 987.18 133.19 4.88 10.72
Apr.. 77.60 90.57 80.63 38.34 74.59 1,004.86 134.43 4.86
May 76.28 88.78 76.78 38.27 74.65 979.52 131.73 4.98
June 76.80 88.63 76.71 39.23 79.79 996.27 132.28 5.03 11.44
July 74.98 < 86.64 74.42 38.90 74.97 947.94 129.13 5.18
Aug.. 75.24 86.72 73.27 40.22 73.76 926.25 129.63 5.16
Sept. 68.37 78.07 63 67 38.17 69.38 853.38 118.27 5.69 13.13
Oct 69 40 78 93 65 65 38 87 72.56 853 25 119.80 5.65
Nov 7149 80 86 67 68 40 73 76 47 860 44 122.92 5.54
Dec 71.81 81.70 68.27 40.22 74.74 878.28 123.79 5.57 12.53
1982:
Jan 67 91 76.85 62 04 39 30 70.99 853 41 117.28 5.95
Feb 6616 74 78 59 09 38 32 70 50 83315 114 50 6.06
Mar 63.86 71.51 55.19 38.57 69.08 812.33 110.84 6.28 13.23
Aor 66.97 75.59 57.91 39.20 71.44 844.96 116.31 5.99
67.07 75.97 56.84 39.40 69.16 846.72 116.35 5.97
3»
June:::::::;:::::::::::::::.::::::: 63.10 71.59 53.07 37.34 63.19 804.37 109.70 6.28 12.93
July.. 62 82 71.37 53 40 37 20 61.59 818 41 109.38 6.31
Aug 62 91 70 98 53 98 3819 62 84 83211 109 65 6.32
Sept 70 21 80 08 6139 40 36 69 66 917 27 122 43 5 63
Oct 76.10 86.67 66.64 42.67 80.59 988.71 132.66 5.12
Nov 79.75 90.76 71.92 43.46 88.66 1,027.76 138.10 4.92
Dec 80.30 92.00 73.40 42.93 86.22 1,033.08 139.37 4.93
1
2
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
3
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
4
Includes 30 stocks.
5
Includes 500 stocks.
6
Standard & Poor's series, based on 500 stocks in the composite index.
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual ratios are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
267
1984
T A B L E B-90.—Common stock prices and yields, 1949-83
1
Common stock prices Common stock yields
(percent) 5
New York Stock Exchange indexes (Dec 31, 1965=50) 2
. Standard
Year or month Dow & Poor's
Jones composite Dividend- Earnings-
industrial index price price
Transpor- Utility Finance ratio 6 ratio 7
Composite Industrial tation average3 (1941-
43=10)4
1949 9.02 179.48 15.23 6.59 15.48
1950 10.87 216.31 18.40 6.57 13.99
1951... 13.08 257.64 22.34 6.13 11.82
1952 13 81 270.76 24.50 5.80 9.47
1953 13 67 275 97 24.73 5.80 10 26
1954 16 19 333 94 29 69 4 95 8 57
1955 21 54 442 72 40 49 4 08 7 95
1956 24 40 493 01 46 62 4 09 7 55
1957 23 67 475.71 44.38 4.35 7.89
1958 24 56 491.66 46.24 3.97 6 23
1959 30 73 632.12 57.38 3.23 5.78
1960 30 01 618 04 55 85 3 47 5 90
1961 35.37 691.55 66.27 2.98 4.62
1962 33 49 639.76 62.38 3.37 5.82
1963 37 51 714.81 69.87 3.17 5 50
1964 43 76 834 05 8137 3 01 5 32
1965 47 39 910 88 8817 3 00 5 59
1966 4615 46 18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 54 22 57 92 44.35 39.53 70.38 884.76 98 29 314 5 41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57 42 63.08 37.74 37.69 70.12 923.88 107 43 3 06 7 12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975.. 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 40.92 55.25 894.63 98.20 4.62 10.79
1978 53 70 58 23 43 50 39 22 56 65 820 23 96 02 5 28 12 03
1979 58.32 64.76 47.34 38.20 61.42 844.40 103.01 5.47 13.46
1980 68.10 78.70 60.61 37.35 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 38.91 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 39.75 71.99 884.36 119.71 5.81 11.60
1983 92.63 107.45 89.36 47.00 95.34 1,190.34 160.41 4.40
1982:
Jan 67.91 76.85 62.04 39.30 70.99 853.41 117.28 5.95
Feb 66.16 74.78 59.09 38.32 70.50 833.15 114.50 6.06
Mar 63.86 71.51 55.19 38.57 69.08 812.33 110.84 6.28 13.23
Apr 66.97 75.59 57.91 39.20 7L44 844.96 116.31 5.99
Mya 67.07 75.97 56.84 39.40 69.16 846.72 116.35 5.97
June 63.10 71.59 53.07 37.34 63.19 804.37 109.70 6.28 12.93
July 62.82 71.37 53.40 37.20 61.59 818.41 109.38 6.31
Aug 62 91 70 98 53 98 3819 62 84 832 11 109 65 6 32
Sept 70.21 80.08 61.39 40.36 69.66 917.27 122.43 5.63 11.26
Oct 76.10 86.67 66.64 42.67 80.59 988.71 132.66 5.12
Nov 79.75 90.76 71.92 43.46 88.66 1,027.76 138.10 4.92
Dec 80.30 92.00 73.40 42.93 86.22 1,033.08 139.37 4.93 8.99
1983:
Jan 83.25 95.37 75.65 45.59 85.66 1,064.29 144.27 4.79
Feb 84.74 97.26 79.44 45.92 86.57 1,087.43 146.80 4.74
Mar 87.50 100.61 83.28 45.89 93.22 1,129,58 151.88 4.59 8.12
Apr 90.61 104.46 85.26 46.22 99.07 1,168.43 157.71 4.44
May 94.61 109.43 89.07 47.62 102.45 1,212.86 164.10 4.27
June 96.43 112.52 92.22 46.76 101.22 1,221.47 166.39 4.26 7.49
July 96.74 113.21 92.91 46.61 99.60 1,213.93 166.96 4.21
Aug 93.96 109.50 88.06 46.94 95.76 1,189.21 162.42 4.35
Sept 96.70 112.76 94.56 48.16 97.00 1,237.04 167.16 4.24 8.01
Oct 96.78 112.87 95.41 48.73 94.79 1,252.20 167.65 4.25
Nov 95.36 110.77 97.68 48.50 94.48 1,250.01 165.23 4.31
Dec 94.92 110.65 98.79 47.00 94.25 1,257.64 164.36 4.32
1
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
2
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
3
Includes 30 stocks.
4
Includes 500 stocks.
5
Standard & Poor's series, based on 500 stocks in the composite index.
6
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual ratios are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources-. New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
323
1985
TABLE B-90.—Common stock prices and yields, 1949-84
Common stock prices » Common stock yields
(percent)*
New York Stock Exchange indexes (Dec. 31,1965=50) a Standard
Year or month Dow & Poor's Dividend- Earnings-
composite
industrial index price price
Transpor-
Composite Industrial tation Utility Finance average 3 (1941- ratio 8 ratio 7
43=10) *
1949 9.02 179.48 15.23 6.59 15.48
1950 10.87 216.31 18.40 6.57 13.99
1951 13.08 257.64 22.34 6.13 11.82
1952 13.81 270.76 24.50 5.80 9.47
1953 13.67 275.97 24.73 5.80 10.26
1954 16.19 333.94 29.69 4.95 8.57
1955 21.54 442.72 4.08 7.95
1956 24.40 493.01 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 30.73 632.12 57.38 3.23 5.78
1960 30.01 618.04 55.85 3.47 5.90
1961 35.37 691.55 66.27 2.98 4.62
1962 33.49 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964 43.76 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
54.67 57.44 46.96 42.80 70.49 876.72 97,84 3.24 6.08
1969
1970 45.72 48.03 32.14 37,24 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7,12
1974 43.84 48.08 31.89 29.79 49.67 759,37 82.85 4.47 11,59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 40.92 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 38.20 61.42 844.40 103.01 5.47 13.46
1980 68.10 78.70 60.61 37.35 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 38.91 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 39.75 71.99 884.36 119.71 5.81 11.60
1983 92,63 107.45 89.36 47.00 95.34 1,190.34 160.41 4.40 8.03
1984 92.46 108.01 85.63 46.44 89.28 1,178.48 160.46 4.64
1983:
Jan.... 83.25 95.37 75.65 45.59 85.66 1,064.29 144.27 4.79
Feb 84.74 97.26 79.44 45.92 86.57 1,087.43 146.80 4.74
Mar 87.50 100.61 83.28 45.89 93.22 1,129,58 151.88 4.59 8.12
90.61 104.46 85.26 46.22 99.07 1,168.43 157.71 4.44
fc:
June
94.61
96.43
96.74
109.43
112.52
113.21
89.07
92.22
92.91
47.62
46.76
46.61
102.45
101.22
99.60
1,212.86
1,221.47
1,213.93
164.10
166.39
166.96
4.27
4.26
4.21
...„.„„
July 93.96 109.50 88.06 46.94 95.76 1,189.21 162.42 4,35
Aug 96.70 112.76 94.56 48.16 97.00 1,237.04 167.16 4.24 8.01
Sept 96.78 112.87 95.41 48.73 94.79 167.65 4.25
Oct 95.36 110,77 97.68 48.50 94.48 165.23 4.31
Nov 94.92 110.65 98.79 47.00 94.25 1,257.64 164.36 4.32 8*51
Dec
1984:
Jan
96.16 112.16 97.98 47.43 95.79 1,258.89 166.39 4.27
Feb
90.60 105.44 86.33 45.67 89.95 1,164.46 157.25 4.59
Mar
90.66 105.92 86.10 44.83 89.50 1,161.97 157.44 4.63 9.57
90.67 106.56 83.61 43.86 88.22 1,152.71 157.60 4.64
90.07 105.94 81.62 44.22 85.06 1,143.42 156.55 4.72
88.28 104.04 79.29 43.65 80.75 1,121.14 153.12 4.86 ""io'M
July 87.08 102.29 76.72 44.17 79.03 1,113.27 151.08
Aug.... 94.49 111.20 86.86 46.49 87.92 1,212.82 164.42
Sept... 95.68 112.18 86.88 47.47 91.59 1,213.51 166.11 454 9.96
Oct 95.09 110.44 86.82 49.02 92.94 1,199.30 164.82 4.62
Nov 95.85 110.91 87.37 49.93 95.28 1,211.30 166.27 4.61
Dec 94.85 109.05 88.00 50.58 95.29 1,188.96 164.48
•Averages of dally closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
* Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
3
Includes 30 stocks.
4
Includes 500 stocks.
8
Standard & Poor's series, based on 500 stocks in the composite index.
•Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual ratios are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
336
1986
TABLE B-91.—Common stock prices and yields, 1949-85
Common stock prices * Common stock 5yields
(percent)
New York Stock ^change indexes (Dec. 31, 1965=50) 2 Standard
Dow & Poor's Dividend- Earnings-
Jones composite price price
Composite Industrial Transpor- Utility Finance industrial index ratio6 ratio7
tation average3 (1941-
43 = 10)4
1949 902 179.48 15.23 6.59 15.48
1950 10.87 216.31 18.40 6.57 13.99
1951 13.08 257.64 22.34 6.13 11.82
1952 13.81 270.76 24.50 5.80 9.47
1953 13.67 275.97 24.73 5.80 10.26
1954 16.19 333.94 29.69 4.95 8.57
1955 21.54 442.72 40.49 4.08 7.95
1956 24.40 493.01 46.62 4.09 7.55
1957 2367 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 3073 632.12 57.38 3.23 5.78
I960 30.01 618.04 55.85 3.47 5.90
1961 35.37 691.55 66.27 2.98 4.62
1962 33.49 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964 4376 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 40.92 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 38.20 61.42 844.40 103.01 5.47 13.46
1980 68.10 78.70 60.61 37.35 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 38.91 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 39.75 71.99 884.36 119.71 5.81 11.60
1983 92.63 107.45 89.36 47.00 95.34 1,190.34 160.41 4.40 8.03
1984 92.46 108.01 85.63 46.44 89.28 1,178.48 160.46 4.64 10.02
1985 108.09 123.79 104.11 56.75 114.21 1,328.23 186.84 4.25
1984- Jan 96.16 112.16 97.98 47.43 95.79 1,258.89 166.39 4.27
Feb 90.60 105.44 86.33 45.67 89.95 1,164.46 157.25 4.59
Mar 90.66 105.92 86.10 44.83 89.50 1,161.97 157.44 4.63 9.59
Apr 90.67 106.56 83.61 43.86 88.22 1,152.71 157.60 4.64
May 90.07 105.94 81.62 44.22 85.06 1,143.42 156.55 4.72
June 88.28 104.04 79.29 43.65 80.75 1,121.14 153.12 4.86 ib"58
July 87.08 102.29 76.72 44.17 79.03 1,113.27 151.08 4.93
Aug 94.49 111.20 86.86 46.49 87.92 1,212.82 164.42 4.62
Sept 95.68 112.18 86.88 47.47 91.59 1,213.51 166.11 4.54 9.97
Oct 95.09 110.44 86.82 49.02 92.94 1,199.30 164.82 4.62
Nov. 95.85 110.91 87.37 49.93 95.28 1,211.30 166.27 4.61
Dec 94.85 109.05 88.00 50.58 95.29 1,188.96 164.48 4.68 9.95
1985: Jan 99.11 113.99 94.88 51.95 101.34 1,238.16 171.61 4.51
Feb 104.73 120.71 101.76 53.44 109.58 1,283.23 180.88 4.30
Mar 103.92 119.64 98.30 53.91 107.59 1,268.83 179.42 4.37 9"07
Apr 104.66 119.93 96.47 55.51 109.39 1,266.36 180.62 4.37
May 107.00 121.88 99.66 57.32 115.31 1,279.40 184.90 4.31
June 109.52 124.11 105.79 59.61 118.47 1,314.00 188.89 4.21 8.12
July 111.64 126.94 111.67 59.68 119.85 1,343.17 192.54 4.14
Aug::.
Sept
109.09
106.62
124.92
122.35
109.92
104.96
56.99
55.93
114.68
110.21
1,326.18
1,317.95
188.31
184.06
4.23
4.32 8"03
Oct 107.57 123.65 103.72 55.84 112.36 1,351.58 186.18 4.28
Nov 113.93 130.53 108.61 59.07 122.83 1,432.88 197.45 4.06
Dec 119.33 136.77 113.52 61.69 128.86 1,517.02 207.26 3.88
1
2
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
3
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
4
Includes 30 stocks.
5
Includes 500 stocks.
6
Standard & Poor's series, based on 500 stocks in the composite index.
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual ratios are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
358
1987
TABLE B-91.—Common stock prices and yields, 1949-86
Common stock pricesx Common stock 5yields
(percent)
New York Stock Exchange indexes (Dec. 31, 1965=50) 2 Standard
Year or month Dow & Poor's
Jones composite Dividend- Earnings-
Composite Industrial Transpor- Utility Finance industrial
3 index price price
tation average (1941- ratio8 ratio7
43=10)*
1949 902 179.48 15.23 6.59 15.48
1950 10.87 216.31 18.40 6.57 13.99
1951 13.08 257.64 22.34 6.13 11.82
1952 1381 270.76 24.50 5.80 9.47
1953 1367 275.97 24.73 5.80 10.26
1954 16.19 333.94 29.69 4.95 8.57
1955 2154 442.72 40.49 4.08 7.95
1956 2440 493.01 46.62 4.09 7.55
1957 2367 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 30.73 632.12 57.38 3.23 5.78
1960 30.01 618.04 55.85 3.47 5.90
1961 3537 691.55 66.27 2.98 4.62
1962 33.49 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964 43.76 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 . 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 . 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 4.2
09 55.25 846
9.3 98.20 4.62 10.79
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 38.20 61.42 844
4.0 103.01 5.47 13.46
1980 68.10 78.70 60.61 37.35 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 38.91 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 39.75 71.99 884.36 119.71 5.81 11.60
1983 92.63 107.45 89.36 47.00 95.34 1,190.34 160.41 4.40 8.03
1984 92.46 108.01 85.63 46.44 89.28 1,178.48 160.46 4.64 10.02
1985 108.09 123.79 104.11 56.75 114.21 1,328.23 186.84 4.25 8.12
1986. . 136.00 155.85 119.87 71.36 147.20 1,792.76 236.34 3.49
1985- Jan 99.11 113.99 94.88 51.95 101.34 1,238.16 171.61 4.51
Feb 104.73 120.71 101.76 53.44 109.58 1,283.23 180.88 4.30
Mar 103.92 119.64 98.30 53.91 107.59 1,268.83 179.42 4.37 9:07
Apr 104.66 119.93 96.47 55.51 109.39 1,266.36 180.62 4.37
May 107.00 121.88 99.66 57.32 115.31 1,279.40 184.90 4.31
June 109.52 124.11 105.79 59.61 118.47 1,314.00 188.89 4.21 8."l4
July 111.64 126.94 111.67 59.68 119.85 1,343.17 192.54 4.14
AUR 109.09 124.92 109.92 56.99 114.68 1,326.18 188.31 4.23
sept....:::..::::::::::.:::::
Oct. .
106.62
107.57
122.35
123.65
104.96
103.72
55.93
55.84
110.21
112.36
1,317.95
1,351.58
184.06
186.18
4.32
4.28
8.36
Nov 113.93 130.53 108.61 59.07 122.83 1,432.88 197.45 4.06
Dec 119.33 136.77 113.52 61.69 128.86 1,517.02 207.26 3.88 6.91
1986: Jan 120.16 137.13 115.72 62.46 132.36 1,534.86 208.19 3.90
Feb 126.43 144.03 124.18 65.18 142.13 1,652.73 219.37 3.72
Mar 133.97 152.75 128.66 68.06 153.94 1,757.35 232.33 3.50 608
Apr 137.27 157.30 126.17 69.46 155.07 1,807.05 237.97 3.43
May 137.37 158.59 122.21 68.65 151.28 1,801.80 238.46 3.42
June 140.82 163.15 120.65 70.69 151.73 1,867.70 245.30 3.36 5.87
July 138.32 158.06 112.03 74.20 150.23 1,809.92 240.18 3.43
Aug. 140.91 160.10 111.24 77.84 152.90 1,843.45 245.00 3.36
Sept 137.06 156.52 114.06 74.56 145.56 1,813.47 238.27 3.43
Oct 136.74 156.56 120.04 73.38 143.89 1,817.04 237.36 3.49
Nov 140.84 162.10 122.27 75.77 142.97 1,883.65 245.09 3.40
Dec.. . . 142.12 163.85 121.26 76.07 144.29 1,924.07 248.61 3.38
1
2
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
3
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
4
Includes 30 stocks.
5
Includes 500 stocks.
6
Standard & Poor's series, based on 500 stocks in the composite index.
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual ratios are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources-. New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
350
1987
TABLE B-91.—Common stock prices and yields, 1949-86
Common stock pricesx Common stock 5yields
(percent)
New York Stock Exchange indexes (Dec. 31, 1965=50) 2 Standard
Year or month Dow & Poor's
Jones composite Dividend- Earnings-
Composite Industrial Transpor- Utility Finance industrial
3 index price price
tation average (1941- ratio8 ratio7
43=10)*
1949 902 179.48 15.23 6.59 15.48
1950 10.87 216.31 18.40 6.57 13.99
1951 13.08 257.64 22.34 6.13 11.82
1952 1381 270.76 24.50 5.80 9.47
1953 1367 275.97 24.73 5.80 10.26
1954 16.19 333.94 29.69 4.95 8.57
1955 2154 442.72 40.49 4.08 7.95
1956 2440 493.01 46.62 4.09 7.55
1957 2367 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 30.73 632.12 57.38 3.23 5.78
1960 30.01 618.04 55.85 3.47 5.90
1961 3537 691.55 66.27 2.98 4.62
1962 33.49 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964 43.76 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 . 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 . 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 4.2
09 55.25 846
9.3 98.20 4.62 10.79
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 38.20 61.42 844
4.0 103.01 5.47 13.46
1980 68.10 78.70 60.61 37.35 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 38.91 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 39.75 71.99 884.36 119.71 5.81 11.60
1983 92.63 107.45 89.36 47.00 95.34 1,190.34 160.41 4.40 8.03
1984 92.46 108.01 85.63 46.44 89.28 1,178.48 160.46 4.64 10.02
1985 108.09 123.79 104.11 56.75 114.21 1,328.23 186.84 4.25 8.12
1986. . 136.00 155.85 119.87 71.36 147.20 1,792.76 236.34 3.49
1985- Jan 99.11 113.99 94.88 51.95 101.34 1,238.16 171.61 4.51
Feb 104.73 120.71 101.76 53.44 109.58 1,283.23 180.88 4.30
Mar 103.92 119.64 98.30 53.91 107.59 1,268.83 179.42 4.37 9:07
Apr 104.66 119.93 96.47 55.51 109.39 1,266.36 180.62 4.37
May 107.00 121.88 99.66 57.32 115.31 1,279.40 184.90 4.31
June 109.52 124.11 105.79 59.61 118.47 1,314.00 188.89 4.21 8."l4
July 111.64 126.94 111.67 59.68 119.85 1,343.17 192.54 4.14
AUR 109.09 124.92 109.92 56.99 114.68 1,326.18 188.31 4.23
sept....:::..::::::::::.:::::
Oct. .
106.62
107.57
122.35
123.65
104.96
103.72
55.93
55.84
110.21
112.36
1,317.95
1,351.58
184.06
186.18
4.32
4.28
8.36
Nov 113.93 130.53 108.61 59.07 122.83 1,432.88 197.45 4.06
Dec 119.33 136.77 113.52 61.69 128.86 1,517.02 207.26 3.88 6.91
1986: Jan 120.16 137.13 115.72 62.46 132.36 1,534.86 208.19 3.90
Feb 126.43 144.03 124.18 65.18 142.13 1,652.73 219.37 3.72
Mar 133.97 152.75 128.66 68.06 153.94 1,757.35 232.33 3.50 608
Apr 137.27 157.30 126.17 69.46 155.07 1,807.05 237.97 3.43
May 137.37 158.59 122.21 68.65 151.28 1,801.80 238.46 3.42
June 140.82 163.15 120.65 70.69 151.73 1,867.70 245.30 3.36 5.87
July 138.32 158.06 112.03 74.20 150.23 1,809.92 240.18 3.43
Aug. 140.91 160.10 111.24 77.84 152.90 1,843.45 245.00 3.36
Sept 137.06 156.52 114.06 74.56 145.56 1,813.47 238.27 3.43
Oct 136.74 156.56 120.04 73.38 143.89 1,817.04 237.36 3.49
Nov 140.84 162.10 122.27 75.77 142.97 1,883.65 245.09 3.40
Dec.. . . 142.12 163.85 121.26 76.07 144.29 1,924.07 248.61 3.38
1
2
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
3
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
4
Includes 30 stocks.
5
Includes 500 stocks.
6
Standard & Poor's series, based on 500 stocks in the composite index.
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual ratios are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources-. New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
350
1988
TABLE B-94.—Common stock prices and yields, 1949-87
Common stock prices1 Common stock 6yields
(percent)
New York Stock Exchange indexes (Dec. 31, 1 9 6 5 = 5 0 ) z Standard
Dow & Poor's
Year or month Jones composite Dividend- Earnings-
Composite Transpor- Utility industrial index price price
Industrial tation Finance average3 (1941- ratio 6 ratio 1
43=10)*
1949 9.02 179.48 15.23 6.59
1950 10.87 216.31 18.40 6.57
1951 13.08 257.64 22.34 6.13
1952 13.81 270.76 24.50 5.80
1953 13.67 275.97 24.73 5.80
1954 16.19 333.94 29.69 4.95
1955 21.54 442.72 40.49 4.08
1956 24.40 493.01 46.62 4.09
1957 23.67 • 475.71 44.38 4.35
1958 24.56 491.66 46.24 3.97
1959 30.73 632.12 57.38 3.23
1960 .. .. 30.01 618.04 55.85 3.47
1961 35.37 691.55 66.27 2.98
1962 33.49 639.76 62.38 3.37
1963 37.51 714.81 69.87 3.17
1964 43.76 834.05 81.37 3.01
1965 47.39 910.88 88.17 3.00
1966 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24
45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83
1970 884.76 98.29 3.14
1971 54.22 57.92 44.35 39.53 70.38
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77
1977 53.69 57.86 41.09 40.92 55.25 894.63 98.20 4.62
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28
1979 58.32 64.76 47.34 38.20 61.42 844.40 103.01 5.47
1980 68.10 78.70 60.61 37.35 64.25 891.41 118.78 5.26
1981 74.02 85.44 72.61 38.91 73.52 932.92 128.05 5.20
1982 68.93 78.18 60.41 39.75 71.99 884.36 119.71 5.81
1983 92.63 107.45 89.36 47.00 95.34 1,190.34 160.41 4.40
1984 92.46 108.01 85.63 46.44 89.28 1,178.48 160.46 4.64
1985 108.09 123.79 104.11 56.75 114.21 1,328.23 186.84 4.25
1986 136.00 155.85 119.87 71.36 147.20 1,792.76 236.34 3.49
1987 161.70 195.31 140.39 74.30 146.48 2f275.99 286.83 3.08
1986: Jan... 120.16 137.13 115.72 62.46 132.36 1,534.86 208.19 3.90
Feb.. 126.43 144.03 124.18 65.18 142.13 1,652.73 219.37 3.72
Mar.. 133.97 152.75 128.66 68.06 153.94 1,757.35 232.33 3.50
137.27 157.30 126.17 69.46 155.07 1,807.05 237.97 3.43
May'" 137.37 158.59 122.21 68.65 151.28 1,801.80 238.46 3.42
June.. 140.82 163.15 120.65 70.69 151.73 1,867.70 245.30 3.36
July 138.32 158.06 112.03 74.20 150.23 1,809.92 240.18 3.43
Aug 140.91 160.10 111.24 77.84 152.90 1,843.45 245.00 3.36
Sept.... 137.06 156.52 114.06 74.56 145.56 1,813.47 238.27 3.43
Oct 136.74 156.56 120.04 73.38 143.89 1,817.04 237.36 3.49
Nov 140.84 162.10 122.27 75.77 142.97 1,883.65 245.09 3.40
Dec 142.12 163.85 121.26 76.07 144.29 1,924.07 248.61 3.38
1987: Jan. 151.17 175.60 126.61 78.54 153.32 2,065.13 264.51 3.17
Feb 160.23 189.17 135.49 78.19 158.41 2,202.34 280.93 3.02
Mar 166.43 198.95 138.55 77.15 162.41 2,292.61 292.47 2.93
163.88 199.03 137.91 72.74 150.52 2,302.64 289.32 2.99
May"!!! 163.00 198.78 141.30 71.64 145.97 2,291.11 289.12 3.02
June.... 169.58 206.61 150.39 74.25 152.73 2,384.02 301.38 2.92
July..... 174.28 214.12 157.48 74.18 152.25 2,481.72 310.09 2.83
Aug 184.18 226.49 164.02 78.20 160.94 2,655.01 329.36 2,69
Sept.... 178.39 219.52 158.58 76.13 154.08 2,570.80 318.66 2.78
Ocf 157.13 189.86 140.95 73.27 137.35 2,224.59 280.16 3.25
Nov 137.21 163.42 117.57 69.86 118.30 1,931.86 245.01 3.66
Dec 134.88 162.19 115.85 67.39 111.47 1,910.07 240.96 3.71
1
2
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange,
4
a Includes 30 stocks.
5
Includes 500 stocks.
6
Standard & Poor's series, based on 500 stocks in the composite index.
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
1
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual ratios are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
356
1989
TABLE B-94.—Common stock prices and yields, 1949-88
Common stock prices1 Common stock 5yields
(percent)
New York Stock Exchange indexes (Dec. 31, 1965=50)2
Year or month Dow & Poor's
Jones composite Dividend- Earnings-
Composite Industrial Transpor- Utility Finance industrial index price price
tation average3 (1941- ratio6 ratio7
43=10)*
1949 9.02 179.48 15.23 6.59 15.48
1950 1087 216.31 18.40 6.57 13.99
1951 13.08 257.64 22.34 6.13 11.82
1952 13.81 270.76 24.50 5.80 9.47
1953 .. 13.67 275.97 24.73 5.80 10.26
1954 1619 333.94 29.69 4.95 8.57
1955 21.54 442.72 40.49 4.08 7.95
1956 24.40 493.01 46.62 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 3073 632.12 57.38 3.23 5.78
I960 30.01 618.04 55.85 3.47 5.90
1961 3537 691.55 66.27 2.98 4.62
1962 33.49 639.76 62.38 3.37 5.82
1963 3751 714.81 69.87 3.17 5.50
1964 43.76 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 . 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 40.92 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 38.20 61.42 844.40 103.01 5.47 13.46
1980 68.10 78.70 60.61 37.35 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 38.91 73.52 932.92 128.05 5.20 11.96
1982 .. 68.93 78.18 60.41 39.75 71.99 884.36 119.71 5.81 11.60
1983 92.63 107.45 89.36 47.00 95.34 1,190.34 160.41 4.40 8.03
1984 92.46 108.01 85.63 46.44 89.28 1,178.48 160.46 4.64 10.02
1985 . 108.09 123.79 104.11 56.75 114.21 1,328.23 186.84 4.25 8.12
1986 136.00 155.85 119.87 71.36 147.20 1,792.76 236.34 3.49 6.09
1987 161.70 195.31 140.39 74.30 146.48 2,275.99 286.83 3.08 5.48
1988" 149.91 180.95 134.12 71.77 127.26 2,060.82 265.79 3.64
1987: Jan 151.17 175.60 126.61 78.54 153.32 2,065.13 264.51 3.17
Feb 160.23 189.17 135.49 78.19 158.41 2,202.34 280.93 3.02
Mar 166.43 198.95 138.55 77.15 162.41 2,292.61 292.47 2.93 5.18
Apr 163.88 199.03 137.91 72.74 150.52 2,302.64 289.32 2.99
May 163.00 198.78 141.30 71.64 145.97 2,291.11 289.12 3.02
June- 169.58 206.61 150.39 74.25 152.73 2,384.02 301.38 2.92 4.74
July 174.28 214.12 157.48 74.18 152.25 2,481.72 310.09 2.83
Aug 184.18 226.49 164.02 78.20 160.94 2,655.01 329.36 2.69
Sept 178.39 219.52 158.58 76.13 154.08 2,570.80 318.66 2.78 4.93
Oct.. 157.13 189.86 140.95 73.27 137.35 2,224.59 280.16 3.25
Nov 137.21 163.42 117.57 69.86 118.30 1,931.86 245.01 3.66
Dec 134.88 162.19 115.85 67.39 111.47 1,910.07 240.96 3.71 7.08
1988- Jan 140.55 168.47 121.20 70.01 119.40 1,947.35 250.48 3.66
Feb.. 145.13 173.44 126.09 72.89 124.36 1,980.65 258.13 3.56
Mar 149.88 181.57 135.15 71.16 125.27 2,044.31 265.74 3.48 7.18
Apr 148.46 180.88 133.43 69.40 121.67 2,036.13 262.61 3.57
May 144.99 176.02 127.63 68.65 120.35 1,988.91 256.12 3.80
June 152.72 184.92 136.02 72.25 129.04 2,104.94 270.68 3.58 7.92
July 152.12 184.09 136.49 71.50 129.99 2,104.22 269.05 3.65
Aug 149.25 179.72 132.53 70.67 130.77 2,051.29 263.73 3.75
Sept 151.47 182.18 136.27 71.83 133.15 2,080.06 267.97 3.69
Oct 156.36 188.58 141.93 74.19 134.66 2,144.31 277.40 3.61
Nov 152.67 183.79 138.60 73.83 129.61 2,099.04 271.02 3.70
Dec" 155.35 187.75 144.06 74.81 128.83 2,148.58 276.51 3.68
1
2
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
3
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
4
Includes 30 stocks.
5
Includes 500 stocks.
6
Standard & Poor's series, based on 500 stocks in the composite index.
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual ratios are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's rnmnrati/v
416
1990
TABLE C-93.—Common stock prices and yields, 1949-89
Common stock prices1 Common stock yields
(percent) •
New York Stock Exchange indexes (Dec. 31, 1965=50)2 Standard
Year or month Dow & Poor's
Jones composite Dividend- Earnings-
Composite Industrial Transpor- Utility Finance industrial (1941-
index price price
tation average8 ratio6 ratio7
43=10)4
1949 9.02 179.48 15.23 6.59 15.48
1950 10.87 216.31 18.40 6.57 13.99
1951 13.08 257.64 22.34 6.13 11.82
1952 13.81 270.76 24.50 5.80 9.47
1953 13.67 275.97 24.73 5.80 10.26
1954 16.19 333.94 29.69 4.95 8.57
1955 21.54 442.72 40.49 4.08 7.95
1956 24.40 493.01 46.62 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 30.73 632.12 57.38 3.23 5.78
1960 30.01 618.04 55.85 3.47 5.90
1961 35.37 691.55 66.27 2.98 4.62
1962 33.49 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964 43.76 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 6%
4. 42.80 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 40.92 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 38.20 61.42 844.40 103.01 5.47 13.46
1980 68.10 78.70 60.61 37.35 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 38.91 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 39.75 71.99 884.36 119.71 5.81 11.60
1983 92.63 107.45 89.36 47.00 95.34 1,190.34 160.41 4.40 8.03
1984 92.46 108.01 85.63 46.44 89.28 1,178.48 160.46 4.64 10.02
1985 108.09 123.79 104.11 56.75 114.21 1,328.23 186.84 4.25 8.12
1986 136.00 155.85 119.87 71.36 147.20 1,792.76 236.34 3.49 6.09
1987 161.70 195.31 140.39 74.30 146.48 2,275.99 286.83 3.08 5.48
1988 149.91 180.95 134.12 71.77 127.26 2,060.82 265.79 3.64 8.01
1989 180.02 216.23 175.28 87.43 151.88 2,508.91 322.84 3.45
1988- Jan 140.55 168.47 121.20 70.01 119.40 1,947.35 250.48 3.66
Feb 145.13 173.44 126.09 72.89 124.36 1,980.65 258.13 3.56
Mar 149.88 181.57 135.15 71.16 125.27 2,044.31 265.74 3.48 7.18
Aor 148.46 180.88 133.43 69.40 121.67 2,036.13 262.61 3.57
May 144.99 176.02 127.63 68.65 120.35 1,988.91 256.12 3.80
June 152.72 184.92 136.02 72.25 129.04 2,104.94 270.68 3.58 7.92
July 152.12 184.09 136.49 71.50 129.99 2,104.22 269.05 3.65
AuJ 149.25 179.72 132.53 70.67 130.77 2,051.29 263.73 3.75
Sept ""i
Oct.""""
151.47
156.36
182.18
188.58
136.27
141.93
71.83
74.19
133.15
134.66
2,080.06
2,144.31
267.97
277.40
3.69
3.61
8.36
Nov 152.67 183.79 138.60 73.83 129.61 2,099.04 271.02 3.70
Dec 155.35 187.75 144.07 74.81 128.83 2,148.58 276.51 3.68 8.56
1989- Jan 160.40 194.62 153.09 75.87 132.26 2,234.68 285.41 3.64
Feb 165.08 200.00 162.66 77.84 137.19 2,304.30 294.01 3.59
Mar 164.60 199.20 160.14 77.66 137.91 2,283.11 292.71 3.68 BM
Aor 169.38 204.81 164.32 79.69 143.26 2,348.91 302.25 3.59
May""»""""""""».. 175.30 211.51 168.89 84.07 146.59 2,439.55 313.93 3.52
June 180.76 216.75 173.47 87.90 154.08 2,494.90 323.73 3.44 7.93
July 185.15 221.74 179.32 90.40 157.78 2,554.03 331.93 3.38
AUK 192.94 231.32 197.52 92.91 164.86 2,691.11 346.61 3.28
Sept 193.02 230.86 202.02 93.44 165.51 2,693.41 347.33 3.29 6.80
Oct 192.49 229.40 190.36 94.67 166.55 2,692.01 347.40 3.29
Nov 188.50 224.38 174.26 94.95 160.89 2,642.49 340.22 3.39
Dec 192.67 230.12 177.25 99.73 155.63 2,728.47 348.57 3.33
1
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
* Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
* Includes 30 stocks.
«Includes 500 stocks.
5
Standard & Poor's series, based on 500 stocks in the composite index.
"Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual ratios are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
401
1991
TABLE B-93.—Common stock prices and yields, 1949-90
Common stock prices1 Common stock 8 yields
(percent)
New York Stock Exchange indexes (Dec. 31, 1965=50)2 Standard
Year or month Dow & Poor's
Jones composite Dividend- Earnings-
Composite Industrial Transpor- Utility Finance industrial index price price
tation average9 (1941- ratio" ratio7
43=10)*
1949 9.02 179.48 15.23 6.59 15.48
1950 10.87 216.31 18.40 6.57 13.99
1951 13.08 257.64 22.34 6.13 11.82
1952 13.81 270.76 24.50 5.80 9.47
1953 13.67 275.97 24.73 5.80 10.26
1954 16.19 333.94 29.69 4.95 8.57
1955. 2154 442.72 40.49 4.08 7.95
1956 2440 493.01 46.62 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 30.73 632.12 57.38 3.23 5.78
I960 30.01 618.04 55.85 3.47 5.90
1961 . .. 35.37 691.55 66.27 2.98 4.62
1962 3349 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964... . 4376 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 4.'
54i 44.45 873.60 85.26 3.40 6.63
1967... 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 0.0
960 98.70 3.07 5.67
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 39.53 70.38 8.6
847 98.29 3.14 5.41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 824
0.9 86.16 4.31 9.15
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 40.92 55.25 894.63 98.20 4.62 10.79
1978. 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 38.20 61.42 4.0
844 103.01 5.47 13.46
1980 68.10 78.70 60.61 37.35 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 38.91 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 39.75 71.99 884.36 119.71 5.81 11.60
1983... . 92.63 107.45 89.36 47.00 95.34 1,190.34 160.41 4.40 8.03
1984 92.46 108.01 85.63 46.44 89.28 1,178.48 160.46 4.64 10.02
1985 108.09 123.79 104.11 56.75 114.21 1,328.23 186.84 4.25 8.12
1986 136.00 155.85 119.87 71.36 147.20 1,792.76 236.34 3.49 6.09
1987 161.70 195.31 140.39 74.30 146.48 2,275.99 286.83 3.08 5.48
1988.. 149.91 180.95 134.12 71.77 127.26 ,6.2
2008 265.79 3.64 8.01
1989 180.02 216.23 175.28 87.43 151.88 2,508.91 322.84 3.45 7.41
1990 183.46 225.78 158.62 90.60 133.26 2,678.94 334.59 3.61
1989: Jan 160.40 194.62 153.09 75.87 132.26 2,234.68 285.41 3.64
Feb 165.08 200.00 162.66 77.84 137.19 2,304.30 294.01 3.59
Mar 164.60 199.20 160.14 77.66 137.91 2,283.11 292.71 3.68 8.46
Apr 169.38 204.81 164.32 79.69 143.26 2,348.91 302.25 3.59
fl/fay.... 175.30 211.51 168.89 84.07 146.59 2,439.55 313.93 3.52
June.... 180.76 216.75 173.47 87.90 154.08 2449
,9.0 323.73 3.44 7.93
July 185.15 221.74 179.32 90.40 157.78 2,554.03 331.93 3.38
Aug I:::.:::::::
Sept
192.94
193.02
231.32
230.86
197.52
202.02
92.91
93.44
164.86
165.51
2,691.11
2,693.41
346.61
347.33
3.28
3.29 679
Oct 192.49 229.40 190.36 94.67 166.55 2,692.01 347.40 3.29
Nov. 188.50 224.38 174.26 94.95 160.89 ,4.9
2624 340.22 3.39
Dec 192.67 230.12 177.25 99.73 155.63 2,728.47 348.57 3.33 6.47
1990: Jan 187.96 225.79 173.67 95.69 150.11 2,679.24 339.97 3.41
Feb 182.55 220.60 166.58 92.15 142.68 2,614.18 330.45 3.54
Mar 186.26 226.14 175.08 93.00 143.13 2,700.13 338.47 3.49 6.37
Apr 185.61 226.86 173.55 91.92 138.57 2,708.26 338.18 3.51
May 191.35 234.85 173.53 93.29 142.94 2,793.81 350.25 3.44
June ::::::::::
July...
196.68
196.61
242.42
245.86
177.37
173.18
93.65
89.85
147.93
143.11
2,894.82
2,934.23
360.39
360.03
3.36
3.37
5.94
Aug :..:.: ::
Sept
181.45
173.22
226.73
216.81
147.41
136.95
85.81
83.30
128.14
118.59
2,681.89
2,550.69
330.75
315.41
3.65
3.85 7.10
oct :::..::::::;":::
Nov....
168.05
172.21
208.58
212.81
131.90
132.96
87.27
89.69
108.01
113.76
2,460.54
2,518.56
307.12
315.29
4.01
3.91
Dec 179.57 221.88 141.31 91.56 122.18 2,610.92 328.75 3.74
1
8
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
3
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
4
Includes 30 stocks.
8
Includes 500 stocks.
6
Standard & Poor's series, based on 500 stocks in the composite index.
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual data are averages of quarterly ratios.
Note.-AII data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
393
1992
TABLE B-91.—Common stock prices and yields, 1952-91
Common stock prices l Common stock 5yields
(percent)
New York Stock Exchange indexes (Dec. 31, 1 9 6 5 = 5 0 ) 2 Standard
Dow & Poor's
Year or month Jones composite Dividend- Earnings-
Transpor- Utility industrial index price price
Composite Industrial tation Finance average3 (1941- ratio 6 ratio 7
43 = 10)*
1952 13.81 270.76 24.50 5.80 9.47
1953 13.67 275.97 24.73 5.80 10.26
1954... 16.19 333.94 29.69 4.95 8.57
1955 21.54 442.72 40.49 4.08 7.95
1956 24.40 493.01 46.62 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 30.73 632.12 57.38 3.23 5.78
1960 30.01 618.04 55.85 3.47 5.90
1961 35.37 691.55 | 66.27 2.98 4.62
1962 33.49 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964 43.76 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 40.92 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 38.20 61.42 844.40 103.01 5.47 13.46
68.10 78.70 60.61 37.35 64.25 118.78 5.26 12.66
1980 891.41 128.05 5.20 11.96
1981 74.02 85.44 72.61 38.91 73.52 932.92
68.93 78.18 60.41 39.75 71.99 119.71 5.81 11.60
1982 884.36 160.41 4.40 8.03
1983 92.63 107.45 89.36 47.00 95.34 1,190.34
1984 92.46 85.63 46.44 89.28 160.46 4.64 10.02
108.01 1,178.48 186.84 4.25 8.12
1985 108.09 123.79 104.11 56.75 114.21 1,328.23
1986 136.00 119.87 1,792.76 236.34 3.49 6.09
155.85 71.36 147.20 286.83 3.08 5.48
1987 161.70 195.31 140.39 74.30 146.48 2,275.99
1988 149.91 134.12 2,060.82 265.79 3.64 8.01
180.95 71.77 127.26 322.84 3.45 7.41
1989 180.02 216.23 175.28 87.43 151.88 2,508.91
183.46 158.62 334.59 3.61 6.47
1990 225.78 90.60 133.26 2,678.94 376.18 3.24
206.33 258.14 173.99 92.66 150.82
1991 2,929.33
1990: Jan 187.96 225.79 173.67 95.69 150.11 2,679.24 339.97 3.41
Feb 182.55 220.60 166.58 92.15 142.68 2,614.18 330.45 3.54
Mar 186.26 226.14 175.08 93.00 143.13 2,700.13 338.47 3.49 6.37
Apr 185.61 226.86 173.55 91.92 138.57 2,708.26 338.18 3.51
May 191.35 234.85 173.53 93.29 142.94 2,793.81 350.25 3.44
June 196.68 242.42 177.37 93.65 147.93 2,894.82 360.39 3.36
July 196.61 245.86 173.18 89.85 143.11 2,934.23 360.03 3.37
Aug 181.45 226.73 147.41 85.81 128.14 2,681.89 330.75 3.65
Sept
Oct
173.22
168.05
216.81
208.58
136.95
131.90
83.30
87.27
118.59
108.01
2,550.69
2,460.54
315.41
307.12
3.85
4.01
Ti6
Nov 172.21 212.81 132.96 89.69 113.76 2,518.56 315.29 3.91
Dec 179.57 221.88 141.31 91.56 122.18 2,610.92 328.75 3.74
1991: Jan 177.95 220.69 145.89 88.59 121.39 2,587.60 325.49 3.82
Feb 197.75 246.74 166.06 92.08 141.03 2,863.04 362.26 3.35
Mar 203.57 255.36 166.26 92.29 145.42 2,920.11 372.28 3.26
207.71 260.15 166.90 92.92 152.64 2,925.54 379.68 3.19
May... 206.93 260.13 170.77 90.76 151.32 2,928.42 377.99 3.23
June... 207.32 261.16 177.05 89.01 152.31 2,968.14 378.29 3.23 Hi
July.... 208.29 262.48 177.15 90.05 151.60 2,978.19 380.23 3.20
Aug.... 213.33 268.22 178.52 92.38 157.70 3,006.09 389.40 3.10
Sept... 212.55 266.21 177.99 93.72 157.69 3,010.35 387.20 3.15 "IE
Oct.... 213.10 265.68 187.31 95.25 158.94 3,019.74 386.88 3.14
Nov.... 213.25 264.89 188.52 96.78 159.78 2,986.12 385.92 3.15
Dec... 214.26 266.01 185.47 98.08 159.96 2,958.64 388.51 3.11
1
2
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
3
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
Includes 30 stocks.
* Includes 500 stocks.
5
6
Standard & Poor's series, based on 500 stocks in the composite index.
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
7
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual data are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
403
1993
TABLE B-91.—Common stock prices and yields, 1955-92
Common stock prices» Common stock yields
(percent) 5
New York Stock Exchange indexes (Dec. 31, 1965=50) 2 Standard
Dow & Poor's
Year or month Jones composite Dividend- Earnings-
Transpor- industrial index price price
Composite Industrial tation Utility Finance average3 (1941- ratio 6 ratio 7
43=10)*
1955 21.54 442.72 40.49 4.08 7.95
1956 24.40 493.01 46.62 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 30.73 632.12 57.38 3.23 5.78
1960 30.01 618.04 55.85 3.47 5.90
1961 35.37 691.55 66.27 2.98 4.62
1962 33.49 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964 43.76 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 45.41 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 45.43 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 44.19 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 42.80 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 37.24 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 39.53 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 38.48 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 37.69 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 29.79 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 31.50 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 36.97 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 40.92 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 39.22 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 38.20 61.42 844.40 103.01 5.47 13.46
1980 68.10 78.70 60.61 37.35 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 38.91 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 39.75 71.99 884.36 119.71 5.81 11.60
1983 92.63 107.45 89.36 47.00 95.34 1,190.34 160.41 4.40 8.03
1984 92.46 108.01 85.63 46.44 89.28 1,178.48 160.46 4.64 10.02
1985 108.09 123.79 104.11 56.75 114.21 1,328.23 186.84 4.25 8.12
1986 136.00 155.85 119.87 71.36 147.20 1,792.76 236.34 3.49 6.09
1987 161.70 195.31 140.39 74.30 146.48 2,275.99 286.83 3.08 5.48
1988 149.91 180.95 134.12 71.77 127.26 2,060.82 265.79 3.64 8.01
1989 180.02 216.23 175.28 87.43 151.88 2,508.91 322.84 3.45 7.41
1990 183.46 225.78 158.62 90.60 133.26 2,678.94 334.59 3.61 6.47
1991 206.33 258.14 173.99 92.66 150.82 2,929.33 376.18 3.24 4.81
1992 229.01 284.62 201.09 99.46 179.26 3,284.29 415.74 2.99
1991:Jan 177.95 220.69 145.89 88.59 121.39 2,587.60 325.49 3.82
Feb 197.75 246.74 166.06 92.08 141.03 2,863.04 362.26 3.35
Mar 203.57 255.36 166.26 92.29 145.42 2,920.11 372.28 3.26 5.58
Apr 207.71 260.15 166.90 92.92 152.64 2,925.54 379.68 3.19
May 206.93 260.13 170.77 90.76 151.32 2,928.42 377.99 3.23
June 207.32 261.16 177.05 89.01 152.31 2,968.14 378.29 3.23
July 208.29 262.48 177.15 90.05 151.60 2,978.19 380.23 3.20
Aug 213.33 268.22 178.52 92.38 157.70 3,006.09 389.40 3.10
Sept 212.55 266.21 177.99 93.72 157.69 3,010.35 387.20 3.15
Oct 213.10 265.68 187.31 95.25 158.94 3,019.74 386.88 3.14
Nov 213.25 264.89 188.52 96.78 159.78 2,986.12 385.92 3.15
Dec 214.26 266.01 185.47 98.08 159.96 2,958.64 388.51 3.11
1992:Jan 229.34 286.62 201.55 99.31 174.50 3,227.06 416.08 2.90
Feb 228.12 286.09 205.53 96.18 174.08 3,257.27 412.56 2.94
Mar 225.21 282.36 204.07 94.16 173.49 3,247.42 407.36 3.01 4.01
Apr 224.55 281.60 201.28 94.92 171.10 3,294.08 407.41 3.02
May.... 228.61 285.25 207.93 98.26 175.90 3,376.79 414.81 2.99
June.... 224.68 279.54 202.02 97.23 174.82 3,337.79 408.27 3.06 ""Hi
228.17 281.90 198.36 101.18 181.00 3,329.41 415.05 3.00
Aug 230.07 284.44 191.31 103.41 180.47 3,307.45 417.93 2.97
Sept.... 230.13 285.76 191.61 102.26 178.27 3,293.92 418.48 3.00 "4.32
Oct 226.97 279.70 192.30 101.62 181.36 3,198.70 412.50 3.07
Nov 232.84 287.30 204.78 101.13 189.27 3,238.49 422.84 2.98
Dec 239.47 294.86 212.35 103.85 196.87 3,303.15 435.64 2.90
1
Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.
2
Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.
3
Includes 30 stocks.
4
Includes 500 stocks.
5
Standard & Poor's series, based on 500 stocks in the composite index.
'Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures-, annual data are averages of monthly figures.
7
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual data are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
453
1994
TABLE B-94.—Common stock prices and yields, 1955-93
Common stock prices * Common stock yields
(S&P) (percent) 4
New York Stock Exchange indexes (Dec. 3 1 , 1 9 6 5 = 5 0 ) 2 Standard
Dow & Poor's
Year or month
Jones composite Dividend- Earnings-
Transpor- 3 industrial index price price
Composite Industrial Utility Finance
tation average2 (1941- ratio 5 ratio 6
1955 21.54 442.72 40.49 4.08 7.95
1956 24.40 493.01 46.62 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 30.73 632.12 57.38 3.23 5.78
1960 30.01 618.04 55.85 3.47 5.90
1961 35.37 691.55 66.27 2.98 4.62
1962 33.49 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964 43.76 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 90.81 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 90.86 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 88.38 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 85.60 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 74.47 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 79.05 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 76.95 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 75.38 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 59.58 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 63.00 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 73.94 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 81.84 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 78.44 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 76.41 61.42 844.40 103.01 5.47 13.46
1980 68.10 78.70 60.61 74.69 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 77.81 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 79.49 71.99 884.36 119.71 5.81 11.60
1983 92.63 107.45 89.36 93.99 95.34 1,190.34 160.41 4.40 8.03
1984 92.46 108.01 85.63 92.89 89.28 1,178.48 160.46 4.64 10.02
1985 108.09 123.79 104.11 113.49 114.21 1,328.23 186.84 4.25 8.12
1986 136.00 155.85 119.87 142.72 147.20 1,792.76 236.34 3.49 6.09
1987 161.70 195.31 140.39 148.57 146.48 2,275.99 286.83 3.08 5.48
1988 149.91 180.95 134.12 143.53 127.26 2,060.82 265.79 3.64 8.01
1989 180.02 216.23 175.28 174.87 151.88 2,508.91 322.84 3.45 7.41
1990 183.46 225.78 158.62 181.20 133.26 2,678.94 334.59 3.61 6.47
1991 206.33 258.14 173.99 185.32 150.82 2,929.33 376.18 3.24 4.81
1992 229.01 284.62 201.09 198.91 179.26 3,284.29 415.74 2.99 4.22
1993 249.58 299.99 242.49 228.90 216.42 3,522.06 451.41 2.78
1992:Jan 229.34 286.62 201.55 198.61 174.50 3,227.06 416.08 2.90
Feb 228.12 286.09 205.53 192.35 174.08 3,257.27 412.56 2.94
Mar 225.21 282.36 204.07 188.31 173.49 3,247.42 407.36 3.01 4.01
Apr 224.55 281.60 201.28 189.83 171.10 3,294.08 407.41 3.02
May 228.61 285.25 207.93 196.52 175.90 3,376.79 414.81 2.99
June 224.68 279.54 202.02 194.46 174.82 3,337.79 408.27 3.06 Tl8
July 228.17 281.90 198.36 202.35 181.00 3,329.41 415.05 3.00
Aug 230.07 284.44 191.31 206.83 180.47 3,307.45 417.93 2.97
Sept 230.13 285.76 191.61 204.52 178.27 3,293.92 418.48 3.00
Oct 226.97 279.70 192.30 203.24 181.36 3,198.70 412.50 3.07
Nov 232.84 287.30 204.78 202.26 189.27 3,238.49 422.84 2.98
Dec 239.47 294.86 212.35 207.69 196.87 3,303.15 435.64 2.90 4.38
1993: Jan 239.67 292.11 221.00 211.04 203.38 3,277.72 435.23 2.88
Feb 243.41 294.40 226.96 218.89 209.93 3,367.26 441.70 2.81
Mar 248.12 298.75 229.42 225.07 217.01 3,440,74 450.16 2.76 "4"39
Apr 244.72 292.19 237.97 227.56 216.02 3,423.63 443.08 2.82
May 246.02 297.83 237.80 222.41 209.40 3,478.17 445.25 2.80
June 247.16 298.78 234.30 226.53 209.75 3,513.81 448.06 2.81 "4.29
July 247.85 295.34 238.30 232.55 218.94 3,529.43 447.29 2.81
Aug 251.93 298.83 250.82 237.44 224.96 3,597.01 454.13 2.76
Sept 254.86 300.92 248.15 244.21 229.35 3,592.29 459.24 2.73 "4.46
Oct 257.53 306.61 254.04 240.97 228.18 3,625.81 463.90 2.72
Nov 255.93 310.84 262.96 230.12 214.08 3,674.70 462.89 2.72
Dec 257.73 313.22 268.11 229.95 216.00 3,744.10 465.95 2.72
1
Averages of daily closing prices, except NYSE data through May 1964 are averages of weekly closing prices.
2
Includes stocks as follows: for NYSE, all stocks listed (more than 2,000); for Dow-Jones industrial average, 30 stocks; and for S&P
composite index, 500 stocks.
3
Effective April 1993, the NYSE doubled the value of the utility index to facilitate trading of options and futures on the index. All
indexes shown here reflect the doubling.
4
Based on 500 stocks in the S&P composite index.
5
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.
6
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual data are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., and Standard & Poor's Corporation (S&P).
377
1995
TABLE B–96.—Common stock prices and yields, 1955–94
Common stock prices 1 Common stock yields
(S&P)(percent) 4
Standard
New York Stock Exchange indexes Dow & Poor’s
Year or month (Dec. 31, 1965=50) 2 Jones composite Dividend- Earnings-
industrial index price price
Transpor- average 2 (1941– ratio 5 ratio 6
Composite Industrial Utility 3 Finance
tation 43=10) 2
1955 .............................. 21.54 ................ ............... .............. .............. 442.72 40.49 4.08 7.95
1956 .............................. 24.40 ................ ............... .............. .............. 493.01 46.62 4.09 7.55
1957 .............................. 23.67 ................ ............... .............. .............. 475.71 44.38 4.35 7.89
1958 .............................. 24.56 ................ ............... .............. .............. 491.66 46.24 3.97 6.23
1959 .............................. 30.73 ................ ............... .............. .............. 632.12 57.38 3.23 5.78
1960 .............................. 30.01 ................ ............... .............. .............. 618.04 55.85 3.47 5.90
1961 .............................. 35.37 ................ ............... .............. .............. 691.55 66.27 2.98 4.62
1962 .............................. 33.49 ................ ............... .............. .............. 639.76 62.38 3.37 5.82
1963 .............................. 37.51 ................ ............... .............. .............. 714.81 69.87 3.17 5.50
1964 .............................. 43.76 ................ ............... .............. .............. 834.05 81.37 3.01 5.32
1965 .............................. 47.39 ................ ............... .............. .............. 910.88 88.17 3.00 5.59
1966 .............................. 46.15 46.18 50.26 90.81 44.45 873.60 85.26 3.40 6.63
1967 .............................. 50.77 51.97 53.51 90.86 49.82 879.12 91.93 3.20 5.73
1968 .............................. 55.37 58.00 50.58 88.38 65.85 906.00 98.70 3.07 5.67
1969 .............................. 54.67 57.44 46.96 85.60 70.49 876.72 97.84 3.24 6.08
1970 .............................. 45.72 48.03 32.14 74.47 60.00 753.19 83.22 3.83 6.45
1971 .............................. 54.22 57.92 44.35 79.05 70.38 884.76 98.29 3.14 5.41
1972 .............................. 60.29 65.73 50.17 76.95 78.35 950.71 109.20 2.84 5.50
1973 .............................. 57.42 63.08 37.74 75.38 70.12 923.88 107.43 3.06 7.12
1974 .............................. 43.84 48.08 31.89 59.58 49.67 759.37 82.85 4.47 11.59
1975 .............................. 45.73 50.52 31.10 63.00 47.14 802.49 86.16 4.31 9.15
1976 .............................. 54.46 60.44 39.57 73.94 52.94 974.92 102.01 3.77 8.90
1977 .............................. 53.69 57.86 41.09 81.84 55.25 894.63 98.20 4.62 10.79
1978 .............................. 53.70 58.23 43.50 78.44 56.65 820.23 96.02 5.28 12.03
1979 .............................. 58.32 64.76 47.34 76.41 61.42 844.40 103.01 5.47 13.46
1980 .............................. 68.10 78.70 60.61 74.69 64.25 891.41 118.78 5.26 12.66
1981 .............................. 74.02 85.44 72.61 77.81 73.52 932.92 128.05 5.20 11.96
1982 .............................. 68.93 78.18 60.41 79.49 71.99 884.36 119.71 5.81 11.60
1983 .............................. 92.63 107.45 89.36 93.99 95.34 1,190.34 160.41 4.40 8.03
1984 .............................. 92.46 108.01 85.63 92.89 89.28 1,178.48 160.46 4.64 10.02
1985 .............................. 108.09 123.79 104.11 113.49 114.21 1,328.23 186.84 4.25 8.12
1986 .............................. 136.00 155.85 119.87 142.72 147.20 1,792.76 236.34 3.49 6.09
1987 .............................. 161.70 195.31 140.39 148.57 146.48 2,275.99 286.83 3.08 5.48
1988 .............................. 149.91 180.95 134.12 143.53 127.26 2,060.82 265.79 3.64 8.01
1989 .............................. 180.02 216.23 175.28 174.87 151.88 2,508.91 322.84 3.45 7.41
1990 .............................. 183.46 225.78 158.62 181.20 133.26 2,678.94 334.59 3.61 6.47
1991 .............................. 206.33 258.14 173.99 185.32 150.82 2,929.33 376.18 3.24 4.79
1992 .............................. 229.01 284.62 201.09 198.91 179.26 3,284.29 415.74 2.99 4.22
1993 .............................. 249.58 299.99 242.49 228.90 216.42 3,522.06 451.41 2.78 4.46
1994 .............................. 254.12 315.25 247.29 209.06 209.73 3,793.77 460.33 2.82 ................
1993: Jan ....................... 239.67 292.11 221.00 211.04 203.38 3,277.72 435.23 2.88 ................
Feb ...................... 243.41 294.40 226.96 218.89 209.93 3,367.26 441.70 2.81 ................
Mar ..................... 248.12 298.75 229.42 225.07 217.01 3,440,74 450.16 2.76 4.39
Apr ...................... 244.72 292.19 237.97 227.56 216.02 3,423.63 443.08 2.82 ................
May ..................... 246.02 297.83 237.80 222.41 209.40 3,478.17 445.25 2.80 ................
June .................... 247.16 298.78 234.30 226.53 209.75 3,513.81 448.06 2.81 4.29
July ..................... 247.85 295.34 238.30 232.55 218.94 3,529.43 447.29 2.81 ................
Aug ..................... 251.93 298.83 250.82 237.44 224.96 3,597.01 454.13 2.76 ................
Sept .................... 254.86 300.92 248.15 244.21 229.35 3,592.29 459.24 2.73 4.45
Oct ...................... 257.53 306.61 254.04 240.97 228.18 3,625.81 463.90 2.72 ................
Nov ..................... 255.93 310.84 262.96 230.12 214.08 3,674.70 462.89 2.72 ................
Dec ...................... 257.73 313.22 268.11 229.95 216.00 3,744.10 465.95 2.72 4.69
1994: Jan ....................... 262.11 320.92 278.29 225.15 218.71 3,868.36 472.99 2.69 ................
Feb ...................... 261.97 322.41 276.67 220.85 217.12 3,905.62 471.58 2.70 ................
Mar ..................... 257.32 318.08 265.68 215.45 211.02 3,816.98 463.81 2.78 5.09
Apr ...................... 247.97 304.48 250.43 210.08 208.12 3,661.48 447.23 2.90 ................
May ..................... 249.56 307.58 244.75 205.77 211.30 3,707.99 450.90 2.89 ................
June .................... 251.21 308.66 246.64 206.54 215.89 3,737.58 454.83 2.84 5.67
July ..................... 249.29 307.34 244.21 205.46 210.91 3,718.30 451.40 2.87 ................
Aug ..................... 256.08 316.55 244.67 211.26 214.77 3,797.48 464.24 2.78 ................
Sept .................... 257.61 322.19 239.10 204.60 211.90 3,880.60 466.96 2.80 5.91
Oct ...................... 255.22 321.53 230.71 203.35 203.33 3,868.10 463.81 2.82 ................
Nov ..................... 252.48 319.33 227.45 200.13 198.38 3,792.43 461.01 2.86 ................
Dec ...................... 248.65 313.92 218.93 200.02 195.25 3,770.31 455.19 2.91 ................
1 Averages of daily closing prices, except NYSE data through May 1964 are averages of weekly closing prices.
2 Includes stocks as follows: for NYSE, all stocks listed (more than 2,000); for Dow-Jones industrial average, 30 stocks; and for S&P com-
posite index, 500 stocks.
3 Effective April 1993, the NYSE doubled the value of the utility index to facilitate trading of options and futures on the index. All indexes
shown here reflect the doubling.
4 Based on 500 stocks in the S&P composite index.
5 Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices.
Monthly data are averages of weekly figures; annual data are averages of monthly figures.
6 Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter.
Annual data are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., and Standard & Poor’s Corporation (S&P).
385
1996
TABLE B–91.—Common stock prices and yields, 1955–95
Common stock prices 1 Common stock yields
(S&P)(percent) 4
Standard
New York Stock Exchange indexes Dow & Poor’s
Year or month (Dec. 31, 1965=50) 2 Jones composite Dividend- Earnings-
industrial index price price
Transpor- average 2 (1941– ratio 5 ratio 6
Composite Industrial Utility 3 Finance
tation 43=10) 2
1955 .............................. 21.54 ................ ............... .............. .............. 442.72 40.49 4.08 7.95
1956 .............................. 24.40 ................ ............... .............. .............. 493.01 46.62 4.09 7.55
1957 .............................. 23.67 ................ ............... .............. .............. 475.71 44.38 4.35 7.89
1958 .............................. 24.56 ................ ............... .............. .............. 491.66 46.24 3.97 6.23
1959 .............................. 30.73 ................ ............... .............. .............. 632.12 57.38 3.23 5.78
1960 .............................. 30.01 ................ ............... .............. .............. 618.04 55.85 3.47 5.90
1961 .............................. 35.37 ................ ............... .............. .............. 691.55 66.27 2.98 4.62
1962 .............................. 33.49 ................ ............... .............. .............. 639.76 62.38 3.37 5.82
1963 .............................. 37.51 ................ ............... .............. .............. 714.81 69.87 3.17 5.50
1964 .............................. 43.76 ................ ............... .............. .............. 834.05 81.37 3.01 5.32
1965 .............................. 47.39 ................ ............... .............. .............. 910.88 88.17 3.00 5.59
1966 .............................. 46.15 46.18 50.26 90.81 44.45 873.60 85.26 3.40 6.63
1967 .............................. 50.77 51.97 53.51 90.86 49.82 879.12 91.93 3.20 5.73
1968 .............................. 55.37 58.00 50.58 88.38 65.85 906.00 98.70 3.07 5.67
1969 .............................. 54.67 57.44 46.96 85.60 70.49 876.72 97.84 3.24 6.08
1970 .............................. 45.72 48.03 32.14 74.47 60.00 753.19 83.22 3.83 6.45
1971 .............................. 54.22 57.92 44.35 79.05 70.38 884.76 98.29 3.14 5.41
1972 .............................. 60.29 65.73 50.17 76.95 78.35 950.71 109.20 2.84 5.50
1973 .............................. 57.42 63.08 37.74 75.38 70.12 923.88 107.43 3.06 7.12
1974 .............................. 43.84 48.08 31.89 59.58 49.67 759.37 82.85 4.47 11.59
1975 .............................. 45.73 50.52 31.10 63.00 47.14 802.49 86.16 4.31 9.15
1976 .............................. 54.46 60.44 39.57 73.94 52.94 974.92 102.01 3.77 8.90
1977 .............................. 53.69 57.86 41.09 81.84 55.25 894.63 98.20 4.62 10.79
1978 .............................. 53.70 58.23 43.50 78.44 56.65 820.23 96.02 5.28 12.03
1979 .............................. 58.32 64.76 47.34 76.41 61.42 844.40 103.01 5.47 13.46
1980 .............................. 68.10 78.70 60.61 74.69 64.25 891.41 118.78 5.26 12.66
1981 .............................. 74.02 85.44 72.61 77.81 73.52 932.92 128.05 5.20 11.96
1982 .............................. 68.93 78.18 60.41 79.49 71.99 884.36 119.71 5.81 11.60
1983 .............................. 92.63 107.45 89.36 93.99 95.34 1,190.34 160.41 4.40 8.03
1984 .............................. 92.46 108.01 85.63 92.89 89.28 1,178.48 160.46 4.64 10.02
1985 .............................. 108.09 123.79 104.11 113.49 114.21 1,328.23 186.84 4.25 8.12
1986 .............................. 136.00 155.85 119.87 142.72 147.20 1,792.76 236.34 3.49 6.09
1987 .............................. 161.70 195.31 140.39 148.57 146.48 2,275.99 286.83 3.08 5.48
1988 .............................. 149.91 180.95 134.12 143.53 127.26 2,060.82 265.79 3.64 8.01
1989 .............................. 180.02 216.23 175.28 174.87 151.88 2,508.91 322.84 3.45 7.41
1990 .............................. 183.46 225.78 158.62 181.20 133.26 2,678.94 334.59 3.61 6.47
1991 .............................. 206.33 258.14 173.99 185.32 150.82 2,929.33 376.18 3.24 4.79
1992 .............................. 229.01 284.62 201.09 198.91 179.26 3,284.29 415.74 2.99 4.22
1993 .............................. 249.58 299.99 242.49 228.90 216.42 3,522.06 451.41 2.78 4.46
1994 .............................. 254.12 315.25 247.29 209.06 209.73 3,793.77 460.33 2.82 5.83
1995 .............................. 291.15 367.34 269.41 220.30 238.45 4,493.76 541.64 2.56 ................
1994: Jan ....................... 262.11 320.92 278.29 225.15 218.71 3,868.36 472.99 2.69 ................
Feb ...................... 261.97 322.41 276.67 220.85 217.12 3,905.62 471.58 2.70 ................
Mar ...................... 257.32 318.08 265.68 215.45 211.02 3,816.98 463.81 2.78 5.09
Apr ...................... 247.97 304.48 250.43 210.08 208.12 3,661.48 447.23 2.90 ................
May ..................... 249.56 307.58 244.75 205.77 211.30 3,707.99 450.90 2.89 ................
June ..................... 251.21 308.66 246.64 206.54 215.89 3,737.58 454.83 2.84 5.67
July ...................... 249.29 307.34 244.21 205.46 210.91 3,718.30 451.40 2.87 ................
Aug ...................... 256.08 316.55 244.67 211.26 214.77 3,797.48 464.24 2.78 ................
Sept ..................... 257.61 322.19 239.10 204.60 211.90 3,880.60 466.96 2.80 5.91
Oct ...................... 255.22 321.53 230.71 203.35 203.33 3,868.10 463.81 2.82 ................
Nov ...................... 252.48 319.33 227.45 200.13 198.38 3,792.43 461.01 2.86 ................
Dec ...................... 248.65 313.92 218.93 200.02 195.25 3,770.31 455.19 2.91 6.66
1995: Jan ....................... 253.56 319.93 230.25 201.16 201.05 3,872.46 465.25 2.87 ................
Feb ...................... 261.86 328.98 237.29 207.73 211.76 3,953.72 481.92 2.81 ................
Mar ...................... 266.81 337.96 244.45 204.16 213.29 4,062.78 493.15 2.76 6.51
Apr ...................... 274.37 347.69 254.36 208.93 219.38 4,230.66 507.91 2.68 ................
May ..................... 281.81 357.01 254.69 211.58 228.55 4,391.57 523.81 2.60 ................
June ..................... 289.52 366.75 256.80 216.27 236.26 4,510.76 539.35 2.55 6.32
July ...................... 298.18 379.13 279.15 219.18 240.50 4,684.76 557.37 2.50 ................
Aug ...................... 300.05 379.79 285.63 221.99 245.27 4,639.27 559.11 2.49 ................
Sept ..................... 310.41 390.42 295.54 229.64 260.72 4,746.76 578.77 2.42 6.01
Oct ...................... 311.78 389.63 291.16 236.43 265.12 4,760.46 582.92 2.41 ................
Nov ...................... 317.58 398.66 300.06 238.98 266.12 4,935.81 595.53 2.37 ................
Dec ...................... 327.90 412.11 303.53 247.59 273.36 5,136.10 614.57 2.30 ................
1 Averages of daily closing prices, except NYSE data through May 1964 are averages of weekly closing prices.
2 Includes stocks as follows: for NYSE, all stocks listed (more than 2,000); for Dow-Jones industrial average, 30 stocks; and for S&P com-
posite index, 500 stocks.
3 Effective April 1993, the NYSE doubled the value of the utility index to facilitate trading of options and futures on the index. Annual in-
dexes prior to 1993 reflect the doubling.
4 Based on 500 stocks in the S&P composite index.
5 Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices.
Monthly data are averages of weekly figures; annual data are averages of monthly figures.
6 Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter.
Annual data are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., and Standard & Poor’s Corporation (S&P).
1997
TABLE B-93.—Common stock prices and yields, 1955-96
Common stock prices ' Common stock yields
(S&P)(percent)4
New York Stock Exchange 2
indexes Standard
Year or month (Dec. 31,1965=50) Dow & Poor's
Jones composite Dividend- Earnings-
industrial index price price
Composite Industrial Transpor- Utility 3
Finance average 2 (1941- ratio 5 ratio*
tation 43=10)2
1955 21.54 442.72 40.49 4.08 7.95
1956 24.40 493.01 46.62 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 30.73 632.12 57.38 3.23 5.78
1960 30.01 618.04 55.85 3.47 5.90
1961 35.37 691.55 66.27 2.98 4.62
1962 33.49 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964 43.76 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 90.81 44"45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 90.86 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 88.38 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 85.60 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 74.47 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 79.05 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 76.95 78.35 95071 109.20 2.84 5.50
1973 57.42 63.08 37.74 75.38 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 59.58 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 63.00 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 73.94 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 81.84 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 78.44 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 76.41 61.42 844.40 103.01 5.47 13.46
1980 68.10 78.70 60.61 74.69 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 77.81 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 79.49 71.99 884.36 119.71 5.81 11.60
1983 92.63 107.45 89.36 93.99 95.34 1,190.34 160.41 4.40 8.03
1984 92.46 108.01 85.63 92.89 89.28 1,178.48 160.46 4.64 10.02
1985 108.09 123.79 104.11 113.49 114.21 1,328.23 186.84 4.25 8.12
1986 136.00 155.85 119.87 142.72 147.20 1,792.76 236.34 3.49 6.09
1987 161.70 195.31 140.39 148.59 146.48 2,275.99 286.83 3.08 5.48
1988 149.91 180.95 134.12 143.53 127.26 2,060.82 265.79 3.64 8.01
1989 180.02 216.23 175.28 174.87 151.88 2,508.91 322.84 3.45 7.42
1990 183.46 225.78 158.62 181.20 133.26 2,678.94 334.59 3.61 6.47
1991 206.33 258.14 173.99 185.32 150.82 2,929.33 376.18 3.24 4.79
1992 229.01 284.62 201.09 198.91 179.26 3,284.29 415.74 2.99 4.22
1993 249.58 299.99 242.49 228.90 216.42 3,522.06 451.41 2.78 4.46
1994 254.12 315.25 247.29 209.06 209.73 3,793.77 460.33 2.82 5.83
1995 291.15 367.34 269.41 220.30 238.45 4,493.76 541.64 2.56 6.09
1996 358.17 453.98 327.33 249.77 303.89 5,742.89 670.83 2.19
1995:Jan 253.56 319.93 230.25 201.16 201.05 3,872.46 465.25 2.87
Feb 261.86 328.98 237.29 207.73 211.76 3,953.72 481.92 2.81
Mar 266.81 337.96 244.45 204.16 213.29 4,062.78 493.15 2.76 6.50
Apr 274.37 347.69 254.36 208.93 219.38 4,230.66 507.91 2.68
May 281.81 357.01 254.69 211.58 228.55 4,391.57 523.81 2.60
June 289.52 366.75 256.80 216.27 236.26 4,510.76 539.35 2.55 6"32
July 298.18 379.13 279.15 219.18 240.50 4,684.76 557.37 2.50
Aug 300.05 379.79 285.63 221.99 245.27 4,639.27 559.11 2.49
Sept 310.41 390.42 295.54 229.64 260.72 4,746.76 578.77 2.42 6.02
Oct . 311.78 389.63 291.16 236.43 265.12 4,760.46 582.92 2.41
Nov 317.58 398.66 300.06 238.98 266.12 4,935.81 595.53 2.37
Dec 327.90 412.11 303.53 247.59 273.36 5,136.10 614.57 2.30 5.51
1996:Jan 329.22 412.71 300.30 254.07 273.73 5,179.37 614.42 2.31
Feb 346.46 435.92 315.29 257.80 290.97 5,518.73 649.54 2.22
Mar 346.73 439.56 324.76 245.77 290.45 5,612.24 647.07 2.22 5.27
347.50 441.99 326.42 244.87 287.92 5,579.86 647.17 2.24
ft
June
354.84
358.32
452.63
458.30
334.66
331.57
249.73
247.20
290.43
294.42
5,616.71
5,671.51
661.23
668.50
2.21
2.21 5.21
July 345.52 438.58 316.66 245.31 287.89 5,496.26 644.07 2.28
Aug 354.59 449.41 321.61 244.74 302.95 5,685.50 662.68 2.22
Sept 360.96 459.69 323.12 242.25 308.16 5,804.01 674.88 2.20 5.25
Oct . 373.54 473.98 332.93 249.61 324.42 5,996.21 701.46 2.11
Nov ... 388.75 490.60 348.32 258.85 345.30 6,318.36 735.67 2.01
Dec 391.61 494.38 352.28 257.09 350.01 6,435.87 743.25 2.01
1
2
Averages of daily closing prices, except NYSE data through May 1964 are averages of weekly closing prices.
Includes stocks as follows: for NYSE, all stocks listed (more than 2,000); for Dow-Jones industrial average, 30 stocks; and for S&P com-
posite index, 500 stocks.
Effective April 1993, the NYSE doubled the value of the utility index to facilitate trading of options and futures on the index. Annual
indexes prior to 1993 reflect the doubling.
4
5
Based on 500 stocks in the S&P composite index.
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices.
Monthly data are averages of weekly figures; annual data are averages of monthly figures.
6
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter.
Annual data are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., and Standard & Poor's Corporation (S&P).
406
1998
TABLE B-95.—Common stock prices and yields, 1933-97
Common stock prices ' Common stock yields
(S&P)(percent)4
New York Stock Exchange indexes Standard
Year or month (Dec. 31, 1965=50)2 Dow & Poor's
Jones composite Dividend- Earnings-
industrial index price price
Composite Industrial Transpor- Utility3
Finance average2 (1941- ratio5 ratio6
tation 43=10)2
1955 21.54 442.72 40.49 4.08 7.95
1956 2440 493.01 46.62 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 24.56 491.66 46.24 3.97 6.23
1959 30.73 :::::::: 632.12 57.38 3.23 5.78
I960 30.01 618.04 55.85 3.47 5.90
1961 35.37 691.55 66.27 2.98 4.62
1962 33.49 ' 639.76 62.38 3,37 5.82
1963 .. 37.51 714.81 69.87 3.17 5.50
1964 43.76 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 90.81 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 90.86 49.82 879.12 91.93 3.20 5.73
1968 55.37 58.00 50.58 88.38 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 85.60 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 74.47 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 79.05 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 76.95 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 75.38 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 59.58 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 63.00 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 73.94 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 81.84 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 78.44 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 76.41 61.42 844.40 103.01 5.47 13.46
1980 68.10 78.70 60.61 74.69 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 77.81 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 79.49 71.99 884.36 119.71 5.81 11.60
1983 92.63 107.45 89.36 93.99 95.34 1,190.34 160.41 4.40 8.03
1984 92.46 108.01 85.63 92.89 89.28 1,178.48 160.46 4.64 10.02
1985 108.09 123.79 104.11 113.49 114.21 1,328.23 186.84 4.25 8.12
1986 136.00 155.85 119.87 142.72 147.20 1,792.76 236.34 3.49 6.09
1987 161.70 195.31 140.39 148.59 146.48 2,275.99 286.83 3.08 5.48
1988 149.91 180.95 134.12 143.53 127.26 2,060.82 265.79 3.64 8.01
1989 180.02 216.23 175.28 174.87 151.88 2,508.91 322.84 3.45 7.42
1990 183.46 225.78 158.62 181.20 133.26 2,678.94 334.59 3.61 6.47
1991 206.33 258.14 173.99 185.32 150.82 2,929.33 376.18 3.24 4.79
1992 229.01 284.62 201.09 198.91 179.26 3,284.29 415.74 2.99 4.22
1993 249.58 299.99 242.49 228.90 216.42 3,522.06 451.41 2.78 4.46
1994 254.12 315.25 247.29 209.06 209.73 3,793.77 460.33 2.82 5.83
1995 291.15 367.34 269.41 220.30 238.45 4,493.76 541.64 2.56 6.09
1996 358.17 453.98 327.33 249.77 303.89 5,742.89 670.83 2.19 5.24
1997 456.54 574.52 414.60 283.82 424.48 7,441.15 872.72 1.77
1996- Jan 329.22 412.71 300.30 254.07 273.73 5,179.37 614.42 2.31
Feb 346.46 435.92 315.29 257.80 290.97 5,518.73 649.54 2.22
Mar 346.73 439.56 324.76 245.77 290.45 5,612.24 647.07 2.22 5.27
Apr 347.50 441.99 326.42 244.87 287.92 5,579.86 647.17 2.24
May 354.84 452.63 334.66 249.73 290.43 5,616.71 661.23 2.21
June 358.32 458.30 331.57 247.20 294.42 5,671.51 668.50 2.21 5.21
July 345.52 438.58 316.66 245.31 287.89 5,496.26 644.07 2.28
Aug 354.59 449.41 321.61 244.74 302.95 5,685.50 662.68 2.22
Sept": 360.96 459.69 323.12 242.25 308.16 5,804.01 674.88 2.20 5.24
Oct 373.54 473.98 332.93 249.61 324.42 5,996.21 701.46 2.11
Nov 388.75 490.60 348.32 258.85 345.30 6,318.36 735.67 2.01
Dec 391.61 494.38 352.28 257.09 350.01 6,435.87 743.25 2.01 5.23
1997:Jan 403.58 509.64 359.40 263.91 361.45 6,707.03 766.22 1.95
Feb 418.57 524.30 364.15 271.36 388.75 6,917.48 798.39 1.89
Mar 416.72 523.08 372.87 264.78 387.21 6,901.12 792.16 1.91 5.31
Apr 401.00 506.69 366.67 253.18 364.25 6,657.50 763.93 1.98
May 433.36 549.65 395.50 268.18 392.32 7,242.36 833.09 1.85
June 457.07 578.57 410.94 280.48 419.12 7,599.60 876.29 1.77 4.58
July 480.94 610.42 433.75 288.51 441.59 7,990.65 925.29 1.66
Aug 481.53 609.54 439.71 287.63 446.93 7,948.43 927.74 1.65
sept"": :
Oct
489.74
499.25
617.94
625.22
451.63
466.04
291.87
302.83
459.86
476.70
7,866.59
7,875.82
937.02
951.16
1.65
1.61
4"29
Nov 492.08 615.57 453.49 307.52 465.29 7,677.36 938.92 1.65
Dec 504.66 623.57 461.04 325.60 490.30 7.909.82 962.37 1.62
1
Averages of daily closing prices, except NYSE data through May 1964 are averages of weekly closing prices.
2 Includes stocks as follows: for NYSE, all stocks listed (more than 3,000); for Dow-Jones industrial average, 30 stocks; and for S&P com-
posite index, 500 stocks.
'Effective April 1993, the NYSE doubled the value of the utility index to facilitate trading of options and futures on the index. Annual
indexes prior to 1993 reflect the doubling.
4
5
Based on 500 stocks in the S&P composite index.
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices.
Monthly data are averages of weekly figures; annual data are averages of monthly figures.
6
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter.
Annual data are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., and Standard & Poor's Corporation (S&P).
390
1999
TABLE B-95.—Common stock prices and yields, 1956-98
Common stock prices1 Common stock yields
(S&P)(percent)4
New York Stock Exchange indexes Standard
Year or month (Dec. 31, 1965=K))2 Dow & Poor's
Jones composite Dividend- Earnings-
industrial index price price
Composite Industrial Transpor- Utility 3 Finance average 2 (1941- ratio* ratio «
tation 43=10)2
1956 2440 493.01 46.62 4.09 7.55
1957 23.67 475.71 44.38 4.35 7.89
1958 2456 491.66 46.24 3.97 6.23
1959 3073 632.12 57.38 3.23 5.78
I960 3001 618.04 55.85 3.47 5.90
1961 35.37 691.55 66.27 2.98 4.62
1962 3349 639.76 62.38 3.37 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964 4376 834.05 81.37 3.01 5.32
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 90.81 44.45 873.60 85.26 3.40 6.63
1967 50.77 51.97 53.51 90.86 49.82 879.12 91.93 3.20 5.73
1968 .!...!..! ! ! 55.37 58.00 50.58 88.38 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 85.60 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 74.47 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 79.05 70.38 884.76 98.29 3.14 5.41
1972 60.29 65.73 50.17 76.95 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 75.38 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 59.58 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 63.00 47.14 802.49 86.16 4.31 9.15
1976 54.46 60.44 39.57 73.94 52.94 974.92 102.01 3.77 8.90
1977 53.69 57.86 41.09 81.84 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 78.44 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 76.41 61.42 844.40 103.01 5.47 13.46
1980 68.10 78.70 60.61 74.69 64.25 891.41 118.78 5.26 12.66
1981 74.02 85.44 72.61 77.81 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 79.49 71.99 884.36 119.71 5.81 11.60
1983 92.63 107.45 89.36 93.99 95.34 1,190.34 160.41 4.40 8.03
1984 92.46 108.01 85.63 92.89 89.28 1,178.48 160.46 4.64 10.02
1985 108.09 123.79 104.11 113.49 114.21 1,328.23 186.84 4.25 8.12
1986 136.00 155.85 119.87 142.72 147.20 1,792.76 236.34 3.49 6.09
1987 161.70 195.31 140.39 148.59 146.48 2,275.99 286.83 3.08 5.48
1988 149.91 180.95 134.12 143.53 127.26 2,060.82 265.79 3.64 8.01
1989 180.02 216.23 175.28 174.87 151.88 2,508.91 322.84 3.45 7.42
1990 183.46 225.78 158.62 181.20 133.26 2,678.94 334.59 3.61 6.47
1991 206.33 258.14 173.99 185.32 150.82 2,929.33 376.18 3.24 4.79
1992 229.01 284.62 201.09 198.91 179.26 3,284.29 415.74 2.99 4.22
1993 249.58 299.99 242.49 228.90 216.42 3,522.06 451.41 2.78 4.46
1994 254.12 315.25 247.29 209.06 209.73 3,793.77 460.42 2.82 5.83
1995 291.15 367.34 269.41 220.30 238.45 4,493.76 541.72 2.56 6.09
1996 358.17 453.98 327.33 249.77 303.89 5,742.89 670.50 2.19 5.24
1997 456.54 574.52 414.60 283.82 424.48 7,441.15 873.43 1.77 4.57
1998 550.26 681.57 468.69 378.12 516.35 8,625.52 1,085.50 1.49
1997- Jan 403.58 509.64 359.40 263.91 361.45 6,707.03 766.22 1.95
Feb 418.57 524.30 364.15 271.36 388.75 6,917.48 798.39 1.89
Mar . . 416.72 523.08 372.87 264.78 387.21 6,901.12 792.16 1.91 5'Ji
Apr 401.00 506.69 366.67 253.18 364.25 6,657.50 763.93 1.98
Hay ::::::::::::::::::
June
433.36
457.07
549.65
578.57
395.50
410.94
268.18
280.48
392.32
419.12
7,242.36
7,599.60
833.09
876.29
1.85
1.77 £58
July 480.94 610.42 433.75 288.51 441.59 7,990.65 925.29 1.66
Aug 481.53 609.54 439.71 287.63 446.93 7,948.43 927.74 1.65
Sept 489.74 617.94 451.63 291.87 459.86 7,866.59 937.02 1.65 4.29
od. ::::::::::::::;:::
Nov
499.25
492.08
625.22
615.57
466.04
453.49
302.83
307.52
476.70
465.29
7,875.82
7,677.36
951.16
938.92
1.61
1.65
Dec 504.66 623.57 461.04 325.60 490.30 7,909.82 962.37 1.62 4.09
1998: Jan 504.13 624.61 458.49 332.50 479.81 7,808.35 963.36 1.62
Feb 532.15 660.91 485.73 341.91 508.97 8,323.61 1,023.74 1.55
Mar 560.70 693.13 508.06 367.48 539.47 8,709.47 1,076.83 1.48 3.59
Apr 578.05 711.89 523.73 378.92 563.07 9,037.44 1,112.20 1.43
May 574.46 712.39 505.02 372.62 551.28 9,080.07 1,108.42 1.45
June 569.76 704.14 492.98 376.51 548.57 8,872.96 1,108.39 1.45 3.44
July 586.39 718.54 503.89 388.78 579.67 9,097.14 1,156.58 1.39
Aug 539.16 665.66 441.36 372.48 511.22 8,478.52 1,074.62 1.48
Sept 506.56 629.51 408.75 372.33 454.28 7,909.79 1,020.64 1.59 3.75
Oct 511.49 636.62 396.61 390.17 448.12 8,164.47 1,032.47 1.59
Nov 564.26 704.46 442.95 412.59 501.45 9,005.75 1,144.43 1.43
Dec 576.05 717.00 456.70 431.14 510.31 9.018.68 1.190.05 1.37
1
Averages of daily closing prices, except NYSE data through May 1964 are averages of weekly closing prices,
includes stocks as follows: for NYSE, all stocks listed (more than 3,500); for Dow-Jones industrial average, 30 stocks; and for S&P com-
posite index, 500 stocks.
3 Effective April 1993, the NYSE doubled the value of the utility index to facilitate trading of options and futures on the index. Annual
indexes prior to 1993 reflect the doubling.
4
5
Based on 500 stocks in the S&P composite index.
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices.
Monthly data are averages of weekly figures; annual data are averages of monthly figures.
6
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter.
Annual data are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., and Standard & Poor's Corporation (S&P).
436
2000
TABLE B-93.-—Common stock prices and yields, 195 7—99
Common stock prices1 Common stock yields
(S&P) (percent)*
Standard
New York Stock Exchange indexes Dow & Poor's
Year or month (Dec. 31,1965=50)2
Jones composite Dividend- Earnings-
industrial index price price
Transpor- 3 average2 (1941- ratio 5 ratio 6
Composite Industrial Utility Finance 43=10)2
tation
1957 2367 475 71 4438 4 35 789
1958 24 56 491.66 46.24 3 97 6.23
1959 30.73 632.12 57.38 3.23 5.78
I960 30.01 618.04 55.85 3.47 5.90
1961 35.37 691.55 66.27 2.98 4.62
1962 3349 639 76 62 38 337 5.82
1963 37.51 714.81 69.87 3.17 5.50
1964 43 76 834 05 8137 301 532
1965 47.39 910.88 88.17 3.00 5.59
1966 46.15 46.18 50.26 90.81 44.45 873.60 85.26 3.40 6.63
1967 50 77 5197 5351 9086 4982 87912 91.93 320 5 73
1968 55.37 58.00 50.58 88.38 65.85 906.00 98.70 3.07 5.67
1969 54.67 57.44 46.96 85.60 70.49 876.72 97.84 3.24 6.08
1970 45.72 48.03 32.14 74.47 60.00 753.19 83.22 3.83 6.45
1971 54.22 57.92 44.35 79.05 70.38 884.76 98.29 3.14 5.41
1972 ""..".'..'.." .... 60.29 65.73 50.17 76.95 78.35 950.71 109.20 2.84 5.50
1973 57.42 63.08 37.74 75.38 70.12 923.88 107.43 3.06 7.12
1974 43.84 48.08 31.89 59.58 49.67 759.37 82.85 4.47 11.59
1975 45.73 50.52 31.10 63.00 47.14 802.49 86.16 4.31 9.15
1976 5446 6044 3957 7394 52 94 974 92 102 01 3.77 8.90
1977 53.69 57.86 41.09 81.84 55.25 894.63 98.20 4.62 10.79
1978 53.70 58.23 43.50 78.44 56.65 820.23 96.02 5.28 12.03
1979 58.32 64.76 47.34 76.41 61.42 844.40 103.01 5.47 13.46
1980 6810 78 70 6061 74 69 64 25 89141 118 78 5.26 12 66
1981 74.02 85.44 72.61 77.81 73.52 932.92 128.05 5.20 11.96
1982 68.93 78.18 60.41 79.49 71.99 884.36 119.71 5.81 11.60
1983 92 63 10745 89.36 93.99 95.34 1190.34 160.41 4.40 8.03
1984 92.46 108.01 85.63 92.89 89.28 1,178.48 160.46 4.64 10.02
1985 108.09 123.79 104.11 113.49 114.21 1,328.23 186.84 4.25 8.12
1986 136.00 155.85 119.87 142.72 147.20 1,792.76 236.34 3.49 6.09
1987 161.70 195.31 140.39 148.59 146.48 2,275.99 286.83 3.08 5.48
1988 14991 180 95 13412 14353 127 26 2 060 82 265 79 364 801
1989 180.02 216.23 175.28 174.87 151.88 2',508.91 322.84 3.45 7.42
1990 183.46 225.78 158.62 181.20 133.26 2,678.94 334.59 3.61 6.47
1991 20633 25814 17399 18532 15082 2 929 33 37618 3 24 4 79
1992 229.01 284 62 201.09 198.91 179.26 3^284.29 415.74 2.99 4.22
1993
1994
1995
1996
97
19 ::~~rr
249 58
254.12
29115
358.17
456.54
29999
315.25
367 34
453.98
574.52
24249
247.29
269.41
327.33
414.60
228 90
209.06
220.30
249.77
283.82
m
21642
303.89
424.48
3 522 06
3,793.77
4,493.76
5,742.89
7,441.15
45141
460.42
541.72
670.50
873.43
2 78
2.82
2.56
2.19
1.77
446
5.83
6.09
5.24
4.57
1998 550 26 68157 468 69 37812 516 35 8 625 52 1085 50 149 3.46
1999 619.16 774.78 491.60 473.73 530.86 10,464.88 1,327.33 1.25
m
1998: Jan 504.13 624.61 458.49 332.50 479.81 7,808.35 963.36 1.62
Feb 532.15 660.91 485.73 341.91 8,323.61 1,023.74 1.55
Mar 560.70 693.13 508.06 367.48 8709.47 1,076.83 1.48 159
m
Apr 578.05 711.89 523.73 378.92 9,037.44 1,112.20 1.43
k
July..I!"..!.".!..!.!
574.46
569.76
586.39
712.39
704.14
718.54 503.89
372.62
376.51
388.78
563.07
551.28
548.57
579.67 9,097.14
1,108.42
1,108.39
1,156.58
1.45
1.45
1.39
3.44
Aug ... 665.66 441.36 372.48 511.22 8,478.52 1,074.62 1.48
506.56 629.51 408.75 372.33 454.28 7,909.79 1,020.64 1.59 375
tfjzzz
Nov .
Dec
511.49
564.26
576.05
636.62
704.46
717.00
396.61
442.95
456.70
390.17
412.59
431.14
448.12
501.45
510.31
8,164.47
9,005.75
9,018.68
1.032.47
1,144.43
1,190.05 L37 O'7
1999:Jan 595.43 741.43 479.72 449.50 523.38 9,345.86 1,248.77
Feb 588.70 736 20 47747 436.49 514 75 9 322 94 1246 58 132
Mar 603.69 751.93 491.25 436.23 544.08 9,753.63 1,281.66 1.30 2.98
Apr 627 75 78084 52308 45696 564 99 10 443 50 1334 76 124
May 635.62 791.72 537.88 47040 56266 10'853 87 1332 07 1.24
June 629.53 783.96 520.66 482.71 546.43 10,704.02 1,322.55 1.25 2.99
July . . . . 64883 80933 528 72 50100 557 92 11052 22 1380 99 120
Aug . . . 621.03 778.82 492.13 483.68 521.59 10.935.47 U27.49 1.25
Sept 769.47 462.33 475.42 493.37 10,714.03 1,318.17 1.27 3.43
m
Oct $« 75394 45013 47819 490 92 10 396 88 1300 01 128
Nov 791.41 474.78 502.59 539.20 10't809.80 1,391.00 1.21
Dec 808.28 461.04 511.64 510.99 11,246.36 1,428.68 1.18
•Averages of daily closing prices, except NYSE data through May 1964 are averages of weekly closing prices.
2
Includes stocks as follows: for NYSE, all stocks listed (more than 3,500); for Dow-Jones industrial average, 30 stocks; and for S&P com-
posite index, 500 stocks.
3
Effective April 1993. the NYSE doubled the value of the utility index to facilitate trading of options and futures on the index. Annual
indexes prior to 1993 reflect the doubling.
4
Based on 500 stocks in the S&P composite index.
5
Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices.
Monthly data are averages of weekly figures; annual data are averages of monthly figures.
6
Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter.
Annual data are averages of quarterly ratios.
Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., and Standard & Poor's (S&P).
414
2001
TABLE B–95.—Common stock prices and yields, 1959–2000
Common stock prices 1 Common stock yields
(S&P) (percent) 4
Nasdaq
Standard
New York Stock Exchange indexes com-
Dow & Poor’s
Year or month (Dec. 31, 1965=50) 2 posite
Jones in- composite Dividend- Earnings-
index
dustrial index price price
(Feb. 5
average 2 (1941- ratio 5 ratio 6
Com- Indus- Transpor- 1971=
Utility 3 Finance 43=10) 2
posite trial tation 100) 2
1959 ................ 30.73 .............. ................ ............ ............ 632.12 57.38 .............. 3.23 5.78
1960 ................ 30.01 .............. ................ ............ ............ 618.04 55.85 .............. 3.47 5.90
1961 ................ 35.37 .............. ................ ............ ............ 691.55 66.27 .............. 2.98 4.62
1962 ................ 33.49 .............. ................ ............ ............ 639.76 62.38 .............. 3.37 5.82
1963 ................ 37.51 .............. ................ ............ ............ 714.81 69.87 .............. 3.17 5.50
1964 ................ 43.76 .............. ................ ............ ............ 834.05 81.37 .............. 3.01 5.32
1965 ................ 47.39 .............. ................ ............ ............ 910.88 88.17 .............. 3.00 5.59
1966 ................ 46.15 46.18 50.26 90.81 44.45 873.60 85.26 .............. 3.40 6.63
1967 ................ 50.77 51.97 53.51 90.86 49.82 879.12 91.93 .............. 3.20 5.73
1968 ................ 55.37 58.00 50.58 88.38 65.85 906.00 98.70 .............. 3.07 5.67
1969 ................ 54.67 57.44 46.96 85.60 70.49 876.72 97.84 .............. 3.24 6.08
1970 ................ 45.72 48.03 32.14 74.47 60.00 753.19 83.22 .............. 3.83 6.45
1971 ................ 54.22 57.92 44.35 79.05 70.38 884.76 98.29 107.44 3.14 5.41
1972 ................ 60.29 65.73 50.17 76.95 78.35 950.71 109.20 128.52 2.84 5.50
1973 ................ 57.42 63.08 37.74 75.38 70.12 923.88 107.43 109.90 3.06 7.12
1974 ................ 43.84 48.08 31.89 59.58 49.67 759.37 82.85 76.29 4.47 11.59
1975 ................ 45.73 50.52 31.10 63.00 47.14 802.49 86.16 77.20 4.31 9.15
1976 ................ 54.46 60.44 39.57 73.94 52.94 974.92 102.01 89.90 3.77 8.90
1977 ................ 53.69 57.86 41.09 81.84 55.25 894.63 98.20 98.71 4.62 10.79
1978 ................ 53.70 58.23 43.50 78.44 56.65 820.23 96.02 117.53 5.28 12.03
1979 ................ 58.32 64.76 47.34 76.41 61.42 844.40 103.01 136.57 5.47 13.46
1980 ................ 68.10 78.70 60.61 74.69 64.25 891.41 118.78 168.61 5.26 12.66
1981 ................ 74.02 85.44 72.61 77.81 73.52 932.92 128.05 203.18 5.20 11.96
1982 ................ 68.93 78.18 60.41 79.49 71.99 884.36 119.71 188.97 5.81 11.60
1983 ................ 92.63 107.45 89.36 93.99 95.34 1,190.34 160.41 285.43 4.40 8.03
1984 ................ 92.46 108.01 85.63 92.89 89.28 1,178.48 160.46 248.88 4.64 10.02
1985 ................ 108.09 123.79 104.11 113.49 114.21 1,328.23 186.84 290.19 4.25 8.12
1986 ................ 136.00 155.85 119.87 142.72 147.20 1,792.76 236.34 366.96 3.49 6.09
1987 ................ 161.70 195.31 140.39 148.59 146.48 2,275.99 286.83 402.57 3.08 5.48
1988 ................ 149.91 180.95 134.12 143.53 127.26 2,060.82 265.79 374.43 3.64 8.01
1989 ................ 180.02 216.23 175.28 174.87 151.88 2,508.91 322.84 437.81 3.45 7.42
1990 ................ 183.46 225.78 158.62 181.20 133.26 2,678.94 334.59 409.17 3.61 6.47
1991 ................ 206.33 258.14 173.99 185.32 150.82 2,929.33 376.18 491.69 3.24 4.79
1992 ................ 229.01 284.62 201.09 198.91 179.26 3,284.29 415.74 599.26 2.99 4.22
1993 ................ 249.58 299.99 242.49 228.90 216.42 3,522.06 451.41 715.16 2.78 4.46
1994 ................ 254.12 315.25 247.29 209.06 209.73 3,793.77 460.42 751.65 2.82 5.83
1995 ................ 291.15 367.34 269.41 220.30 238.45 4,493.76 541.72 925.19 2.56 6.09
1996 ................ 358.17 453.98 327.33 249.77 303.89 5,742.89 670.50 1,164.96 2.19 5.24
1997 ................ 456.54 574.52 414.60 283.82 424.48 7,441.15 873.43 1,469.49 1.77 4.57
1998 ................ 550.26 681.57 468.69 378.12 516.35 8,625.52 1,085.50 1,794.91 1.49 3.46
1999 ................ 619.16 774.78 491.60 473.73 530.86 10,464.88 1,327.33 2,728.15 1.25 3.17
1999: Jan ......... 595.43 741.43 479.72 449.50 523.38 9,345.86 1,248.77 2,357.80 1.30 .................
Feb ......... 588.70 736.20 477.47 436.49 514.75 9,322.94 1,246.58 2,356.99 1.32 .................
Mar ........ 603.69 751.93 491.25 436.23 544.08 9,753.63 1,281.66 2,391.14 1.30 2.98
Apr ......... 627.75 780.84 523.08 456.96 564.99 10,443.50 1,334.76 2,537.89 1.24 .................
May ........ 635.62 791.72 537.88 470.40 562.66 10,853.87 1,332.07 2,512.60 1.24 .................
June ....... 629.53 783.96 520.66 482.71 546.43 10,704.02 1,322.55 2,520.96 1.25 2.99
July ........ 648.83 809.33 528.72 501.00 557.92 11,052.22 1,380.99 2,741.26 1.20 .................
Aug ........ 621.03 778.82 492.13 483.68 521.59 10,935.47 1,327.49 2,642.45 1.25 .................
Sept ....... 607.87 769.47 462.33 475.42 493.37 10,714.03 1,318.17 2,807.95 1.27 3.43
Oct ......... 599.04 753.94 450.13 478.19 490.92 10,396.88 1,300.01 2,815.28 1.28 .................
Nov ........ 634.22 791.41 474.78 502.59 539.20 10,809.80 1,391.00 3,230.55 1.21 .................
Dec ........ 638.17 808.28 461.04 511.64 510.99 11,246.36 1,428.68 3,739.88 1.18 3.28
2000: Jan ......... 634.07 814.73 456.36 485.82 495.23 11,281.26 1,425.59 4,013.49 1.18 .................
Feb ......... 606.03 775.46 398.69 482.30 471.65 10,541.93 1,388.87 4,410.87 1.21 .................
Mar ........ 622.28 790.35 384.39 509.59 489.90 10,483.39 1,442.21 4,802.99 1.18 3.40
Apr ......... 646.82 822.76 406.14 502.78 524.05 10,944.31 1,461.36 3,863.64 1.14 .................
May ........ 640.07 814.75 411.50 487.17 523.22 10,580.27 1,418.48 3,528.42 1.17 .................
June ....... 649.61 819.54 395.09 501.93 544.51 10,582.93 1,461.96 3,865.48 1.12 3.57
July ........ 653.27 825.28 410.67 484.19 556.32 10,662.95 1,473.00 4,017.69 1.10 .................
Aug ........ 666.14 837.23 419.84 459.91 597.17 11,014.51 1,485.46 3,909.60 1.09 .................
Sept ....... 667.05 829.99 404.23 464.66 616.89 10,967.87 1,468.05 3,875.82 1.10 3.74
Oct ......... 646.53 803.88 401.37 453.68 596.53 10,440.96 1,390.14 3,333.82 1.15 .................
Nov ........ 646.64 800.88 434.92 455.66 600.45 10,666.06 1,375.04 3,055.42 1.16 .................
1 Averages of daily closing prices, except NYSE data through May 1964 are averages of weekly closing prices.
2 Includes stocks as follows: for NYSE, all stocks listed (more than 3,500); for Dow Jones industrial average, 30 stocks; for S&P composite
index, 500 stocks; and for Nasdaq composite index, over 5,000.
3 Effective April 1993, the NYSE doubled the value of the utility index to facilitate trading of options and futures on the index. Annual
indexes prior to 1993 reflect the doubling.
4 Based on 500 stocks in the S&P composite index.
5 Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices.
Monthly data are averages of weekly figures; annual data are averages of monthly figures.
6 Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter.
Annual data are averages of quarterly ratios.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., Standard & Poor’s (S&P), and the National Association of Securities
Dealers, Inc.
384
2002
TABLE B–95.—Common stock prices and yields, 1959–2001
Common stock prices 1 Common stock yields
(S&P) (percent) 4
Nasdaq
Standard
New York Stock Exchange indexes com-
Dow & Poor’s
Year or month (Dec. 31, 1965=50) 2 posite
Jones in- composite Dividend- Earnings-
index
dustrial index price price
(Feb. 5,
average 2 (1941- ratio 5 ratio 6
Com- Indus- Transpor- 1971=
Utility 3 Finance 43=10) 2
posite trial tation 100) 2
1959 ................ 30.73 .............. ................ ............ ............ 632.12 57.38 .............. 3.23 5.78
1960 ................ 30.01 .............. ................ ............ ............ 618.04 55.85 .............. 3.47 5.90
1961 ................ 35.37 .............. ................ ............ ............ 691.55 66.27 .............. 2.98 4.62
1962 ................ 33.49 .............. ................ ............ ............ 639.76 62.38 .............. 3.37 5.82
1963 ................ 37.51 .............. ................ ............ ............ 714.81 69.87 .............. 3.17 5.50
1964 ................ 43.76 .............. ................ ............ ............ 834.05 81.37 .............. 3.01 5.32
1965 ................ 47.39 .............. ................ ............ ............ 910.88 88.17 .............. 3.00 5.59
1966 ................ 46.15 46.18 50.26 90.81 44.45 873.60 85.26 .............. 3.40 6.63
1967 ................ 50.77 51.97 53.51 90.86 49.82 879.12 91.93 .............. 3.20 5.73
1968 ................ 55.37 58.00 50.58 88.38 65.85 906.00 98.70 .............. 3.07 5.67
1969 ................ 54.67 57.44 46.96 85.60 70.49 876.72 97.84 .............. 3.24 6.08
1970 ................ 45.72 48.03 32.14 74.47 60.00 753.19 83.22 .............. 3.83 6.45
1971 ................ 54.22 57.92 44.35 79.05 70.38 884.76 98.29 107.44 3.14 5.41
1972 ................ 60.29 65.73 50.17 76.95 78.35 950.71 109.20 128.52 2.84 5.50
1973 ................ 57.42 63.08 37.74 75.38 70.12 923.88 107.43 109.90 3.06 7.12
1974 ................ 43.84 48.08 31.89 59.58 49.67 759.37 82.85 76.29 4.47 11.59
1975 ................ 45.73 50.52 31.10 63.00 47.14 802.49 86.16 77.20 4.31 9.15
1976 ................ 54.46 60.44 39.57 73.94 52.94 974.92 102.01 89.90 3.77 8.90
1977 ................ 53.69 57.86 41.09 81.84 55.25 894.63 98.20 98.71 4.62 10.79
1978 ................ 53.70 58.23 43.50 78.44 56.65 820.23 96.02 117.53 5.28 12.03
1979 ................ 58.32 64.76 47.34 76.41 61.42 844.40 103.01 136.57 5.47 13.46
1980 ................ 68.10 78.70 60.61 74.69 64.25 891.41 118.78 168.61 5.26 12.66
1981 ................ 74.02 85.44 72.61 77.81 73.52 932.92 128.05 203.18 5.20 11.96
1982 ................ 68.93 78.18 60.41 79.49 71.99 884.36 119.71 188.97 5.81 11.60
1983 ................ 92.63 107.45 89.36 93.99 95.34 1,190.34 160.41 285.43 4.40 8.03
1984 ................ 92.46 108.01 85.63 92.89 89.28 1,178.48 160.46 248.88 4.64 10.02
1985 ................ 108.09 123.79 104.11 113.49 114.21 1,328.23 186.84 290.19 4.25 8.12
1986 ................ 136.00 155.85 119.87 142.72 147.20 1,792.76 236.34 366.96 3.49 6.09
1987 ................ 161.70 195.31 140.39 148.59 146.48 2,275.99 286.83 402.57 3.08 5.48
1988 ................ 149.91 180.95 134.12 143.53 127.26 2,060.82 265.79 374.43 3.64 8.01
1989 ................ 180.02 216.23 175.28 174.87 151.88 2,508.91 322.84 437.81 3.45 7.42
1990 ................ 183.46 225.78 158.62 181.20 133.26 2,678.94 334.59 409.17 3.61 6.47
1991 ................ 206.33 258.14 173.99 185.32 150.82 2,929.33 376.18 491.69 3.24 4.79
1992 ................ 229.01 284.62 201.09 198.91 179.26 3,284.29 415.74 599.26 2.99 4.22
1993 ................ 249.58 299.99 242.49 228.90 216.42 3,522.06 451.41 715.16 2.78 4.46
1994 ................ 254.12 315.25 247.29 209.06 209.73 3,793.77 460.42 751.65 2.82 5.83
1995 ................ 291.15 367.34 269.41 220.30 238.45 4,493.76 541.72 925.19 2.56 6.09
1996 ................ 358.17 453.98 327.33 249.77 303.89 5,742.89 670.50 1,164.96 2.19 5.24
1997 ................ 456.54 574.52 414.60 283.82 424.48 7,441.15 873.43 1,469.49 1.77 4.57
1998 ................ 550.26 681.57 468.69 378.12 516.35 8,625.52 1,085.50 1,794.91 1.49 3.46
1999 ................ 619.16 774.78 491.60 473.73 530.86 10,464.88 1,327.33 2,728.15 1.25 3.17
2000 ................ 643.66 810.63 413.60 477.65 553.13 10,734.90 1,427.22 3,783.67 1.15 3.63
2001 ................ 605.07 748.26 443.59 377.30 595.61 10,189.13 1,194.18 2,035.00 1.32 .................
2000: Jan ......... 634.07 814.73 456.36 485.82 495.23 11,281.26 1,425.59 4,013.49 1.18 .................
Feb ......... 606.03 775.46 398.69 482.30 471.65 10,541.93 1,388.87 4,410.87 1.21 .................
Mar ........ 622.28 790.35 384.39 509.59 489.90 10,483.39 1,442.21 4,802.99 1.18 3.40
Apr ......... 646.82 822.76 406.14 502.78 524.05 10,944.31 1,461.36 3,863.64 1.14 .................
May ........ 640.07 814.75 411.50 487.17 523.22 10,580.27 1,418.48 3,528.42 1.17 .................
June ....... 649.61 819.54 395.09 501.93 544.51 10,582.93 1,461.96 3,865.48 1.12 3.57
July ........ 653.27 825.28 410.67 484.19 556.32 10,662.95 1,473.00 4,017.69 1.10 .................
Aug ........ 666.14 837.23 419.84 459.91 597.17 11,014.51 1,485.46 3,909.60 1.09 .................
Sept ....... 667.05 829.99 404.23 464.66 616.89 10,967.87 1,468.05 3,875.82 1.10 3.74
Oct ......... 646.53 803.88 401.37 453.68 596.53 10,440.96 1,390.14 3,333.82 1.15 .................
Nov ........ 646.64 800.88 434.92 455.66 600.45 10,666.06 1,375.04 3,055.42 1.16 .................
Dec ........ 645.44 792.66 439.97 444.16 621.62 10,652.41 1,330.93 2,657.81 1.19 3.79
2001: Jan ......... 650.55 796.74 471.21 440.36 634.17 10,682.74 1,335.63 2,656.86 1.16 .................
Feb ......... 648.05 799.38 482.26 424.53 626.41 10,774.57 1,305.75 2,449.57 1.22 .................
Mar ........ 603.44 744.21 452.36 395.34 583.38 10,081.32 1,185.85 1,986.66 1.33 3.92
Apr ......... 607.06 747.48 455.22 400.49 587.88 10,234.52 1,189.84 1,933.93 1.32 .................
May ........ 644.44 798.94 477.21 414.69 618.74 11,004.96 1,270.37 2,181.13 1.23 .................
June ....... 630.86 782.73 458.60 382.98 622.17 10,767.20 1,238.71 2,112.05 1.26 3.00
July ........ 613.36 756.04 469.80 374.11 614.54 10,444.50 1,204.45 2,033.98 1.30 .................
Aug ........ 604.52 748.65 458.39 357.76 605.59 10,314.68 1,178.51 1,929.71 1.34 .................
Sept ....... 544.39 672.89 382.68 339.72 538.01 9,042.56 1,044.64 1,573.31 1.48 2.72
Oct ......... 556.04 688.35 371.56 341.51 553.16 9,220.75 1,076.59 1,656.43 1.45 .................
Nov ........ 575.30 715.98 410.05 330.78 577.85 9,721.82 1,129.68 1,870.06 1.38 .................
Dec ........ 582.82 727.67 433.70 325.33 585.47 9,979.88 1,144.93 1,977.71 1.36 .................
1 Averages of daily closing prices, except NYSE data through May 1964 are averages of weekly closing prices.
2 Includes stocks as follows: for NYSE, all stocks listed (nearly 3,000); for Dow Jones industrial average, 30 stocks; for S&P composite
index, 500 stocks; and for Nasdaq composite index, over 4,000.
3 Effective April 1993, the NYSE doubled the value of the utility index to facilitate trading of options and futures on the index. Annual
indexes prior to 1993 reflect the doubling.
4 Based on 500 stocks in the S&P composite index.
5 Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices.
Monthly data are averages of weekly figures; annual data are averages of monthly figures.
6 Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter.
Annual data are averages of quarterly ratios.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., Standard & Poor’s (S&P), and the National Association of Securities
Dealers, Inc.
2003
TABLE B–95.—Common stock prices and yields, 1965–2002
Common stock prices 1 Common stock yields
(S&P) (percent) 4
Nasdaq
Standard
New York Stock Exchange indexes com-
Dow & Poor’s
Year or month (Dec. 31, 1965=50) 2 posite
Jones in- composite Dividend- Earnings-
index
dustrial index price price
(Feb. 5,
average 2 (1941- ratio 5 ratio 6
Com- Indus- Transpor- 1971=
Utility 3 Finance 43=10) 2
posite trial tation 100) 2
1965 ................ 47.39 .............. ................ ............ ............ 910.88 88.17 .............. 3.00 5.59
1966 ................ 46.15 46.18 50.26 90.81 44.45 873.60 85.26 .............. 3.40 6.63
1967 ................ 50.77 51.97 53.51 90.86 49.82 879.12 91.93 .............. 3.20 5.73
1968 ................ 55.37 58.00 50.58 88.38 65.85 906.00 98.70 .............. 3.07 5.67
1969 ................ 54.67 57.44 46.96 85.60 70.49 876.72 97.84 .............. 3.24 6.08
1970 ................ 45.72 48.03 32.14 74.47 60.00 753.19 83.22 .............. 3.83 6.45
1971 ................ 54.22 57.92 44.35 79.05 70.38 884.76 98.29 107.44 3.14 5.41
1972 ................ 60.29 65.73 50.17 76.95 78.35 950.71 109.20 128.52 2.84 5.50
1973 ................ 57.42 63.08 37.74 75.38 70.12 923.88 107.43 109.90 3.06 7.12
1974 ................ 43.84 48.08 31.89 59.58 49.67 759.37 82.85 76.29 4.47 11.59
1975 ................ 45.73 50.52 31.10 63.00 47.14 802.49 86.16 77.20 4.31 9.15
1976 ................ 54.46 60.44 39.57 73.94 52.94 974.92 102.01 89.90 3.77 8.90
1977 ................ 53.69 57.86 41.09 81.84 55.25 894.63 98.20 98.71 4.62 10.79
1978 ................ 53.70 58.23 43.50 78.44 56.65 820.23 96.02 117.53 5.28 12.03
1979 ................ 58.32 64.76 47.34 76.41 61.42 844.40 103.01 136.57 5.47 13.46
1980 ................ 68.10 78.70 60.61 74.69 64.25 891.41 118.78 168.61 5.26 12.66
1981 ................ 74.02 85.44 72.61 77.81 73.52 932.92 128.05 203.18 5.20 11.96
1982 ................ 68.93 78.18 60.41 79.49 71.99 884.36 119.71 188.97 5.81 11.60
1983 ................ 92.63 107.45 89.36 93.99 95.34 1,190.34 160.41 285.43 4.40 8.03
1984 ................ 92.46 108.01 85.63 92.89 89.28 1,178.48 160.46 248.88 4.64 10.02
1985 ................ 108.09 123.79 104.11 113.49 114.21 1,328.23 186.84 290.19 4.25 8.12
1986 ................ 136.00 155.85 119.87 142.72 147.20 1,792.76 236.34 366.96 3.49 6.09
1987 ................ 161.70 195.31 140.39 148.59 146.48 2,275.99 286.83 402.57 3.08 5.48
1988 ................ 149.91 180.95 134.12 143.53 127.26 2,060.82 265.79 374.43 3.64 8.01
1989 ................ 180.02 216.23 175.28 174.87 151.88 2,508.91 322.84 437.81 3.45 7.42
1990 ................ 183.46 225.78 158.62 181.20 133.26 2,678.94 334.59 409.17 3.61 6.47
1991 ................ 206.33 258.14 173.99 185.32 150.82 2,929.33 376.18 491.69 3.24 4.79
1992 ................ 229.01 284.62 201.09 198.91 179.26 3,284.29 415.74 599.26 2.99 4.22
1993 ................ 249.58 299.99 242.49 228.90 216.42 3,522.06 451.41 715.16 2.78 4.46
1994 ................ 254.12 315.25 247.29 209.06 209.73 3,793.77 460.42 751.65 2.82 5.83
1995 ................ 291.15 367.34 269.41 220.30 238.45 4,493.76 541.72 925.19 2.56 6.09
1996 ................ 358.17 453.98 327.33 249.77 303.89 5,742.89 670.50 1,164.96 2.19 5.24
1997 ................ 456.54 574.52 414.60 283.82 424.48 7,441.15 873.43 1,469.49 1.77 4.57
1998 ................ 550.26 681.57 468.69 378.12 516.35 8,625.52 1,085.50 1,794.91 1.49 3.46
1999 ................ 619.16 774.78 491.60 473.73 530.86 10,464.88 1,327.33 2,728.15 1.25 3.17
2000 ................ 643.66 810.63 413.60 477.65 553.13 10,734.90 1,427.22 3,783.67 1.15 3.63
2001 ................ 605.07 748.26 443.59 377.30 595.61 10,189.13 1,194.18 2,035.00 1.32 2.95
2002 ................ 527.62 657.37 431.10 260.85 555.27 9,226.43 993.94 1,539.73 1.61 .................
2001: Jan ......... 650.55 796.74 471.21 440.36 634.17 10,682.74 1,335.63 2,656.86 1.16 .................
Feb ......... 648.05 799.38 482.26 424.53 626.41 10,774.57 1,305.75 2,449.57 1.22 .................
Mar ........ 603.44 744.21 452.36 395.34 583.38 10,081.32 1,185.85 1,986.66 1.33 3.92
Apr ......... 607.06 747.48 455.22 400.49 587.88 10,234.52 1,189.84 1,933.93 1.32 .................
May ........ 644.44 798.94 477.21 414.69 618.74 11,004.96 1,270.37 2,181.13 1.23 .................
June ....... 630.86 782.73 458.60 382.98 622.17 10,767.20 1,238.71 2,112.05 1.27 3.00
July ........ 613.36 756.04 469.80 374.11 614.54 10,444.50 1,204.45 2,033.98 1.30 .................
Aug ........ 604.52 748.65 458.39 357.76 605.59 10,314.68 1,178.51 1,929.71 1.34 .................
Sept ....... 544.39 672.89 382.68 339.72 538.01 9,042.56 1,044.64 1,573.31 1.48 2.72
Oct ......... 556.04 688.35 371.56 341.51 553.16 9,220.75 1,076.59 1,656.43 1.45 .................
Nov ........ 575.30 715.98 410.05 330.78 577.85 9,721.82 1,129.68 1,870.06 1.38 .................
Dec ........ 582.82 727.67 433.70 325.33 585.47 9,979.88 1,144.93 1,977.71 1.36 2.15
2002: Jan ......... 581.74 723.56 446.13 322.49 591.94 9,923.80 1,140.21 1,976.77 1.38 .................
Feb ......... 569.55 715.80 453.51 301.32 570.18 9,891.05 1,100.67 1,799.72 1.43 .................
Mar ........ 600.74 751.79 490.51 316.27 609.72 10,500.95 1,153.79 1,863.05 1.37 2.15
Apr ......... 587.58 732.71 470.00 300.66 610.24 10,165.18 1,112.03 1,758.80 1.42 .................
May ........ 575.75 718.12 459.55 287.10 603.15 10,080.48 1,079.27 1,660.31 1.47 .................
June ....... 544.36 677.58 449.42 265.21 577.05 9,492.44 1,014.05 1,505.49 1.58 2.70
July ........ 486.11 603.04 416.10 230.19 524.01 8,616.52 903.59 1,346.09 1.76 .................
Aug ........ 491.84 611.34 409.96 225.52 533.60 8,685.48 912.55 1,327.36 1.72 .................
Sept ....... 471.04 589.14 388.19 210.76 506.05 8,160.78 867.81 1,251.07 1.80 3.68
Oct ......... 459.88 574.45 383.41 207.83 494.06 8,048.12 854.63 1,241.91 1.86 .................
Nov ........ 482.79 597.75 405.03 229.41 523.50 8,625.72 909.93 1,409.15 1.73 .................
Dec ........ 480.04 593.15 401.39 233.38 519.72 8,526.66 899.18 1,387.15 1.77 .................
1 Averages of daily closing prices.
2 Includes stocks as follows: for NYSE, all stocks listed (nearly 3,000); for Dow Jones industrial average, 30 stocks; for S&P composite
index, 500 stocks; and for Nasdaq composite index, over 4,000.
3 Effective April 1993, the NYSE doubled the value of the utility index to facilitate trading of options and futures on the index. Annual
indexes prior to 1993 reflect the doubling.
4 Based on 500 stocks in the S&P composite index.
5 Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices.
Monthly data are averages of weekly figures; annual data are averages of monthly figures.
6 Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter.
Annual data are averages of quarterly ratios.
Note.—Data shown are as of December 31, 2002. On January 9, 2003, the New York Stock Exchange issued a revised composite index
using new methodology, definitions, and base value.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., Standard & Poor’s (S&P), and Nasdaq Stock Market.
386
2004
TABLE B–95.—Common stock prices and yields, 1969–2003
Common stock prices 1 Common stock yields
(S&P) (percent) 4
New York Stock Exchange indexes 2 Standard & Nasdaq
Poor’s composite
Year or month Dow Jones composite
December 31, 1965=50 index Dividend- Earnings-
Composite industrial index (Feb. 5, price price
(Dec. 31, average 2 ratio 5 ratio 6
Industrial Transpor- (1941- 1971=
2002=5,000) Utility 3 Finance
tation 43=10) 2 100) 2
1969 .................. 578.01 57.44 46.96 85.60 70.49 876.72 97.84 ................ 3.24 6.08
1970 .................. 483.39 48.03 32.14 74.47 60.00 753.19 83.22 ................ 3.83 6.45
1971 .................. 573.33 57.92 44.35 79.05 70.38 884.76 98.29 107.44 3.14 5.41
1972 .................. 637.52 65.73 50.17 76.95 78.35 950.71 109.20 128.52 2.84 5.50
1973 .................. 607.11 63.08 37.74 75.38 70.12 923.88 107.43 109.90 3.06 7.12
1974 .................. 463.54 48.08 31.89 59.58 49.67 759.37 82.85 76.29 4.47 11.59
1975 .................. 483.55 50.52 31.10 63.00 47.14 802.49 86.16 77.20 4.31 9.15
1976 .................. 575.85 60.44 39.57 73.94 52.94 974.92 102.01 89.90 3.77 8.90
1977 .................. 567.66 57.86 41.09 81.84 55.25 894.63 98.20 98.71 4.62 10.79
1978 .................. 567.81 58.23 43.50 78.44 56.65 820.23 96.02 117.53 5.28 12.03
1979 .................. 616.68 64.76 47.34 76.41 61.42 844.40 103.01 136.57 5.47 13.46
1980 .................. 720.15 78.70 60.61 74.69 64.25 891.41 118.78 168.61 5.26 12.66
1981 .................. 782.62 85.44 72.61 77.81 73.52 932.92 128.05 203.18 5.20 11.96
1982 .................. 728.84 78.18 60.41 79.49 71.99 884.36 119.71 188.97 5.81 11.60
1983 .................. 979.52 107.45 89.36 93.99 95.34 1,190.34 160.41 285.43 4.40 8.03
1984 .................. 977.33 108.01 85.63 92.89 89.28 1,178.48 160.46 248.88 4.64 10.02
1985 .................. 1,142.97 123.79 104.11 113.49 114.21 1,328.23 186.84 290.19 4.25 8.12
1986 .................. 1,438.02 155.85 119.87 142.72 147.20 1,792.76 236.34 366.96 3.49 6.09
1987 .................. 1,709.79 195.31 140.39 148.59 146.48 2,275.99 286.83 402.57 3.08 5.48
1988 .................. 1,585.14 180.95 134.12 143.53 127.26 2,060.82 265.79 374.43 3.64 8.01
1989 .................. 1,903.36 216.23 175.28 174.87 151.88 2,508.91 322.84 437.81 3.45 7.42
1990 .................. 1,939.47 225.78 158.62 181.20 133.26 2,678.94 334.59 409.17 3.61 6.47
1991 .................. 2,181.72 258.14 173.99 185.32 150.82 2,929.33 376.18 491.69 3.24 4.79
1992 .................. 2,421.51 284.62 201.09 198.91 179.26 3,284.29 415.74 599.26 2.99 4.22
1993 .................. 2,638.96 299.99 242.49 228.90 216.42 3,522.06 451.41 715.16 2.78 4.46
1994 .................. 2,687.02 315.25 247.29 209.06 209.73 3,793.77 460.42 751.65 2.82 5.83
1995 .................. 3,078.56 367.34 269.41 220.30 238.45 4,493.76 541.72 925.19 2.56 6.09
1996 .................. 3,787.20 453.98 327.33 249.77 303.89 5,742.89 670.50 1,164.96 2.19 5.24
1997 .................. 4,827.35 574.52 414.60 283.82 424.48 7,441.15 873.43 1,469.49 1.77 4.57
1998 .................. 5,818.26 681.57 468.69 378.12 516.35 8,625.52 1,085.50 1,794.91 1.49 3.46
1999 .................. 6,546.81 774.78 491.60 473.73 530.86 10,464.88 1,327.33 2,728.15 1.25 3.17
2000 .................. 6,805.89 810.63 413.60 477.65 553.13 10,734.90 1,427.22 3,783.67 1.15 3.63
2001 .................. 6,397.85 748.26 443.59 377.30 595.61 10,189.13 1,194.18 2,035.00 1.32 2.95
2002 .................. 5,578.89 657.37 431.10 260.85 555.27 9,226.43 993.94 1,539.73 1.61 2.92
2003 .................. 5,447.93 633.18 436.51 237.77 565.75 8,993.59 965.23 1,647.17 1.77 .................
2002: Jan ........... 6,151.15 723.56 446.13 322.49 591.94 9,923.80 1,140.21 1,976.77 1.38 .................
Feb .......... 6,022.23 715.80 453.51 301.32 570.18 9,891.05 1,100.67 1,799.72 1.43 .................
Mar .......... 6,352.08 751.79 490.51 316.27 609.72 10,500.95 1,153.79 1,863.05 1.37 2.15
Apr .......... 6,212.88 732.71 470.00 300.66 610.24 10,165.18 1,112.03 1,758.80 1.42 .................
May ......... 6,087.85 718.12 459.55 287.10 603.15 10,080.48 1,079.27 1,660.31 1.47 .................
June ......... 5,755.89 677.58 449.42 265.21 577.05 9,492.44 1,014.05 1,505.49 1.58 2.70
July .......... 5,139.94 603.04 416.10 230.19 524.01 8,616.52 903.59 1,346.09 1.76 .................
Aug .......... 5,200.62 611.34 409.96 225.52 533.60 8,685.48 912.55 1,327.36 1.72 .................
Sept ......... 4,980.65 589.14 388.19 210.76 506.05 8,160.78 867.81 1,251.07 1.80 3.68
Oct ........... 4,862.70 574.45 383.41 207.83 494.06 8,048.12 854.63 1,241.91 1.86 .................
Nov .......... 5,104.89 597.75 405.03 229.41 523.50 8,625.72 909.93 1,409.15 1.73 .................
Dec .......... 5,075.76 593.15 401.39 233.38 519.72 8,526.66 899.18 1,387.15 1.77 3.14
2003: Jan ........... 5,055.78 587.78 394.84 236.43 522.51 8,474.59 895.84 1,389.56 1.80 .................
Feb .......... 4,738.56 553.90 367.55 214.63 485.33 7,916.18 837.62 1,313.26 1.95 .................
Mar .......... 4,724.22 558.10 366.90 211.45 486.71 7,977.73 846.62 1,348.50 1.93 3.57
Apr .......... 4,977.45 583.74 395.85 221.06 522.05 8,332.09 890.03 1,409.83 1.83 .................
May ......... 5,269.96 613.26 425.12 238.33 549.91 8,623.41 935.96 1,524.18 1.75 .................
June ......... 5,583.42 649.25 441.81 254.16 579.48 9,098.07 988.00 1,631.75 1.66 3.55
July .......... 5,567.94 648.00 445.29 244.67 588.81 9,154.39 992.54 1,716.85 1.71 .................
Aug .......... 5,580.87 651.19 451.31 238.06 582.20 9,284.78 989.53 1,724.82 1.78 .................
Sept ......... 5,748.42 670.18 464.61 243.37 593.10 9,492.54 1,019.44 1,856.22 1.73 3.88
Oct ........... 5,894.39 678.51 477.99 245.96 616.46 9,682.46 1,038.73 1,907.89 1.71 .................
Nov .......... 5,989.42 689.30 497.44 248.01 624.02 9,762.20 1,049.90 1,939.25 1.69 .................
Dec .......... 6,244.68 714.93 509.35 257.12 638.41 10,124.66 1,080.64 1,956.98 1.67 .................
1 Averages of daily closing prices.
2 Includes stocks as follows: for NYSE, all stocks listed (nearly 3,000); for Dow Jones industrial average, 30 stocks; for S&P composite
index, 500 stocks; and for Nasdaq composite index, over 5,000.
3 Effective April 1993, the NYSE doubled the value of the utility index to facilitate trading of options and futures on the index. Annual
indexes prior to 1993 reflect the doubling.
4 Based on 500 stocks in the S&P composite index.
5 Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices.
Monthly data are averages of weekly figures; annual data are averages of monthly figures.
6 Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter.
Annual data are averages of quarterly ratios.
Note.—Data for NYSE composite index reflect the new composite index, released on January 9, 2003 by the NYSE, incorporating new meth-
odology, definitions and base value.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., Standard & Poor’s (S&P), and Nasdaq Stock Market.
394
2005
TABLE B–96.—Common stock prices and yields, 2000–2004
Common stock prices 1 Common stock yields
(S&P) (percent) 4
Standard Nasdaq
New York Stock Exchange indexes 2 3 Dow & Poor’s composite
Year or month (December 31, 2002=5,000) Jones composite index Dividend- Earnings-
industrial index (Feb. 5, price price
Com- Health average 2 (1941- 1971= ratio 5 ratio 6
Financial Energy
posite Care 43=10) 2 100) 2
2000 .................... 6,805.89 .............. .............. .............. 10,734.90 1,427.22 3,783.67 1.15 3.63
2001 .................... 6,397.85 .............. .............. .............. 10,189.13 1,194.18 2,035.00 1.32 2.95
2002 .................... 5,578.89 .............. .............. .............. 9,226.43 993.94 1,539.73 1.61 2.92
2003 .................... 5,447.46 5,583.00 5,273.90 5,288.67 8,993.59 965.23 1,647.17 1.77 3.84
2004 .................... 6,612.62 6,822.18 6,952.36 5,924.80 10,317.39 1,130.65 1,986.53 1.72 .................
2001: Jan ............. 6,878.79 .............. .............. .............. 10,682.74 1,335.63 2,656.86 1.16 .................
Feb ............. 6,852.31 .............. .............. .............. 10,774.57 1,305.75 2,449.57 1.22 .................
Mar ............ 6,380.65 .............. .............. .............. 10,081.32 1,185.85 1,986.66 1.33 3.92
Apr ............. 6,418.94 .............. .............. .............. 10,234.52 1,189.84 1,933.93 1.32 .................
May ............ 6,814.16 .............. .............. .............. 11,004.96 1,270.37 2,181.13 1.23 .................
June ........... 6,670.56 .............. .............. .............. 10,767.20 1,238.71 2,112.05 1.27 3.00
July ............ 6,485.53 .............. .............. .............. 10,444.50 1,204.45 2,033.98 1.30 .................
Aug ............ 6,391.99 .............. .............. .............. 10,314.68 1,178.51 1,929.71 1.34 .................
Sept ........... 5,756.20 .............. .............. .............. 9,042.56 1,044.64 1,573.31 1.48 2.72
Oct ............. 5,879.37 .............. .............. .............. 9,220.75 1,076.59 1,656.43 1.45 .................
Nov ............ 6,083.09 .............. .............. .............. 9,721.82 1,129.68 1,870.06 1.38 .................
Dec ............ 6,162.59 .............. .............. .............. 9,979.88 1,144.93 1,977.71 1.36 2.15
2002: Jan ............. 6,151.15 .............. .............. .............. 9,923.80 1,140.21 1,976.77 1.38 .................
Feb ............. 6,022.23 .............. .............. .............. 9,891.05 1,100.67 1,799.72 1.43 .................
Mar ............ 6,352.08 .............. .............. .............. 10,500.95 1,153.79 1,863.05 1.37 2.15
Apr ............. 6,212.88 .............. .............. .............. 10,165.18 1,112.03 1,758.80 1.42 .................
May ............ 6,087.85 .............. .............. .............. 10,080.48 1,079.27 1,660.31 1.47 .................
June ........... 5,755.89 .............. .............. .............. 9,492.44 1,014.05 1,505.49 1.58 2.70
July ............ 5,139.94 .............. .............. .............. 8,616.52 903.59 1,346.09 1.76 .................
Aug ............ 5,200.62 .............. .............. .............. 8,685.48 912.55 1,327.36 1.72 .................
Sept ........... 4,980.65 .............. .............. .............. 8,160.78 867.81 1,251.07 1.80 3.68
Oct ............. 4,862.70 .............. .............. .............. 8,048.12 854.63 1,241.91 1.86 .................
Nov ............ 5,104.89 .............. .............. .............. 8,625.72 909.93 1,409.15 1.73 .................
Dec ............ 5,075.76 .............. .............. .............. 8,526.66 899.18 1,387.15 1.77 3.14
2003: Jan ............. 5,055.78 5,092.08 4,900.65 5,043.19 8,474.59 895.84 1,389.56 1.80 .................
Feb ............. 4,738.56 4,723.86 4,802.42 4,788.19 7,916.18 837.62 1,313.26 1.95 .................
Mar ............ 4,724.22 4,685.40 4,855.44 4,854.73 7,977.73 846.62 1,348.50 1.93 3.57
Apr ............. 4,977.45 5,036.82 4,916.44 5,078.71 8,332.09 890.03 1,409.83 1.83 .................
May ............ 5,269.96 5,357.20 5,190.65 5,316.27 8,623.41 935.96 1,524.18 1.75 .................
June ........... 5,583.42 5,690.39 5,522.45 5,557.87 9,098.07 988.00 1,631.75 1.66 3.55
July ............ 5,567.94 5,790.61 5,276.08 5,457.98 9,154.39 992.54 1,716.85 1.71 .................
Aug ............ 5,580.87 5,776.36 5,368.25 5,263.19 9,284.78 989.53 1,724.82 1.78 .................
Sept ........... 5,748.42 5,897.76 5,453.23 5,402.56 9,492.54 1,019.44 1,856.22 1.73 3.87
Oct ............. 5,894.39 6,187.33 5,552.99 5,428.31 9,682.46 1,038.73 1,907.89 1.71 .................
Nov ............ 5,989.42 6,282.53 5,474.84 5,521.85 9,762.20 1,049.90 1,939.25 1.69 .................
Dec ............ 6,239.14 6,475.68 5,973.31 5,751.14 10,124.66 1,080.64 1,956.98 1.67 4.38
2004: Jan ............. 6,569.76 6,827.35 6,323.29 6,000.57 10,540.05 1,132.52 2,098.00 1.62 .................
Feb ............. 6,661.38 6,978.62 6,337.87 6,134.16 10,601.50 1,143.36 2,048.36 1.63 .................
Mar ............ 6,574.75 6,914.60 6,455.53 5,908.76 10,323.73 1,123.98 1,979.48 1.68 4.62
Apr ............. 6,600.77 6,792.05 6,638.65 6,028.53 10,418.40 1,133.08 2,021.32 1.68 .................
May ............ 6,371.44 6,495.19 6,572.79 6,022.12 10,083.81 1,102.78 1,930.09 1.74 .................
June ........... 6,548.06 6,683.10 6,780.86 6,063.65 10,364.90 1,132.76 2,000.98 1.70 4.92
July ............ 6,443.45 6,569.52 6,971.57 5,823.34 10,152.09 1,105.85 1,912.42 1.77 .................
Aug ............ 6,352.83 6,566.19 6,866.75 5,733.68 10,032.80 1,088.94 1,821.54 1.81 .................
Sept ........... 6,551.90 6,773.95 7,270.08 5,890.05 10,204.67 1,117.66 1,884.73 1.78 5.18
Oct ............. 6,608.98 6,792.44 7,593.71 5,668.02 10,001.60 1,118.07 1,938.25 1.79 .................
Nov ............ 6,933.75 7,118.40 7,773.26 5,818.20 10,411.76 1,168.94 2,062.87 1.74 .................
Dec ............ 7,134.42 7,354.73 7,843.99 6,006.46 10,673.38 1,199.21 2,149.53 1.72 .................
1 Averages of daily closing prices.
2 Includes stocks as follows: for NYSE, all stocks listed (in 2004, about 3,000); for Dow Jones Industrial average, 30 stocks; for S&P com-
posite index, 500 stocks; and for Nasdaq composite index, over 5,000.
3 The NYSE relaunched the composite index on January 9, 2003, incorporating new definitions, methodology, and base value. Subset indexes
on financial, energy, and health care were released by the NYSE on January 8, 2004.
4 Based on 500 stocks in the S&P composite index.
5 Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices.
Monthly data are averages of weekly figures, annual data are averages of monthly figures.
6 Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter.
Annual data are averages of quarterly ratios.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., Standard & Poor’s (S&P), and Nasdaq Stock Market.
321
2006
TABLE B–96.—Common stock prices and yields, 2000–2005
Common stock prices 1 Common stock yields
(S&P) (percent) 4
Standard Nasdaq
New York Stock Exchange indexes 2 3
Dow & Poor’s composite
Year or month (December 31, 2002=5,000) Jones composite index Dividend- Earnings-
industrial index (Feb. 5, price price
Com- Health average 2 (1941- 1971= ratio 5 ratio 6
Financial Energy
posite Care 43=10) 2 100) 2
2000 .................. 6,805.89 .............. ................ .............. 10,734.90 1,427.22 3,783.67 1.15 3.63
2001 .................. 6,397.85 .............. ................ .............. 10,189.13 1,194.18 2,035.00 1.32 2.95
2002 .................. 5,578.89 .............. ................ .............. 9,226.43 993.94 1,539.73 1.61 2.92
2003 .................. 5,447.46 5,583.00 5,273.90 5,288.67 8,993.59 965.23 1,647.17 1.77 3.84
2004 .................. 6,612.62 6,822.18 6,952.36 5,924.80 10,317.39 1,130.65 1,986.53 1.72 4.89
2005 .................. 7,349.00 7,383.70 9,377.84 6,283.96 10,547.67 1,207.23 2,099.32 1.83 .................
2001: Jan ........... 6,878.79 .............. ................ .............. 10,682.74 1,335.63 2,656.86 1.16 .................
Feb .......... 6,852.31 .............. ................ .............. 10,774.57 1,305.75 2,449.57 1.22 .................
Mar .......... 6,380.65 .............. ................ .............. 10,081.32 1,185.85 1,986.66 1.33 3.92
Apr ........... 6,418.94 .............. ................ .............. 10,234.52 1,189.84 1,933.93 1.32 .................
May ......... 6,814.16 .............. ................ .............. 11,004.96 1,270.37 2,181.13 1.23 .................
June ......... 6,670.56 .............. ................ .............. 10,767.20 1,238.71 2,112.05 1.27 3.00
July .......... 6,485.53 .............. ................ .............. 10,444.50 1,204.45 2,033.98 1.30 .................
Aug .......... 6,391.99 .............. ................ .............. 10,314.68 1,178.51 1,929.71 1.34 .................
Sept ......... 5,756.20 .............. ................ .............. 9,042.56 1,044.64 1,573.31 1.48 2.72
Oct ........... 5,879.37 .............. ................ .............. 9,220.75 1,076.59 1,656.43 1.45 .................
Nov .......... 6,083.09 .............. ................ .............. 9,721.82 1,129.68 1,870.06 1.38 .................
Dec .......... 6,162.59 .............. ................ .............. 9,979.88 1,144.93 1,977.71 1.36 2.15
2002: Jan ........... 6,151.15 .............. ................ .............. 9,923.80 1,140.21 1,976.77 1.38 .................
Feb .......... 6,022.23 .............. ................ .............. 9,891.05 1,100.67 1,799.72 1.43 .................
Mar .......... 6,352.08 .............. ................ .............. 10,500.95 1,153.79 1,863.05 1.37 2.15
Apr ........... 6,212.88 .............. ................ .............. 10,165.18 1,112.03 1,758.80 1.42 .................
May ......... 6,087.85 .............. ................ .............. 10,080.48 1,079.27 1,660.31 1.47 .................
June ......... 5,755.89 .............. ................ .............. 9,492.44 1,014.05 1,505.49 1.58 2.70
July .......... 5,139.94 .............. ................ .............. 8,616.52 903.59 1,346.09 1.76 .................
Aug .......... 5,200.62 .............. ................ .............. 8,685.48 912.55 1,327.36 1.72 .................
Sept ......... 4,980.65 .............. ................ .............. 8,160.78 867.81 1,251.07 1.80 3.68
Oct ........... 4,862.70 .............. ................ .............. 8,048.12 854.63 1,241.91 1.86 .................
Nov .......... 5,104.89 .............. ................ .............. 8,625.72 909.93 1,409.15 1.73 .................
Dec .......... 5,075.76 .............. ................ .............. 8,526.66 899.18 1,387.15 1.77 3.14
2003: Jan ........... 5,055.78 5,092.08 4,900.65 5,043.19 8,474.59 895.84 1,389.56 1.80 .................
Feb .......... 4,738.56 4,723.86 4,802.42 4,788.19 7,916.18 837.62 1,313.26 1.95 .................
Mar .......... 4,724.22 4,685.40 4,855.44 4,854.73 7,977.73 846.62 1,348.50 1.93 3.57
Apr ........... 4,977.45 5,036.82 4,916.44 5,078.71 8,332.09 890.03 1,409.83 1.83 .................
May ......... 5,269.96 5,357.20 5,190.65 5,316.27 8,623.41 935.96 1,524.18 1.75 .................
June ......... 5,583.42 5,690.39 5,522.45 5,557.87 9,098.07 988.00 1,631.75 1.66 3.55
July .......... 5,567.94 5,790.61 5,276.08 5,457.98 9,154.39 992.54 1,716.85 1.71 .................
Aug .......... 5,580.87 5,776.36 5,368.25 5,263.19 9,284.78 989.53 1,724.82 1.78 .................
Sept ......... 5,748.42 5,897.76 5,453.23 5,402.56 9,492.54 1,019.44 1,856.22 1.73 3.87
Oct ........... 5,894.39 6,187.33 5,552.99 5,428.31 9,682.46 1,038.73 1,907.89 1.71 .................
Nov .......... 5,989.42 6,282.53 5,474.84 5,521.85 9,762.20 1,049.90 1,939.25 1.69 .................
Dec .......... 6,239.14 6,475.68 5,973.31 5,751.14 10,124.66 1,080.64 1,956.98 1.67 4.38
2004: Jan ........... 6,569.76 6,827.35 6,323.29 6,000.57 10,540.05 1,132.52 2,098.00 1.62 .................
Feb .......... 6,661.38 6,978.62 6,337.87 6,134.16 10,601.50 1,143.36 2,048.36 1.63 .................
Mar .......... 6,574.75 6,914.60 6,455.53 5,908.76 10,323.73 1,123.98 1,979.48 1.68 4.62
Apr ........... 6,600.77 6,792.05 6,638.65 6,028.53 10,418.40 1,133.08 2,021.32 1.68 .................
May ......... 6,371.44 6,495.19 6,572.79 6,022.12 10,083.81 1,102.78 1,930.09 1.74 .................
June ......... 6,548.06 6,683.10 6,780.86 6,063.65 10,364.90 1,132.76 2,000.98 1.70 4.92
July .......... 6,443.45 6,569.52 6,971.57 5,823.34 10,152.09 1,105.85 1,912.42 1.77 .................
Aug .......... 6,352.83 6,566.19 6,866.75 5,733.68 10,032.80 1,088.94 1,821.54 1.81 .................
Sept ......... 6,551.90 6,773.95 7,270.08 5,890.05 10,204.67 1,117.66 1,884.73 1.78 5.18
Oct ........... 6,608.98 6,792.44 7,593.71 5,668.02 10,001.60 1,118.07 1,938.25 1.79 .................
Nov .......... 6,933.75 7,118.40 7,773.26 5,818.20 10,411.76 1,168.94 2,062.87 1.74 .................
Dec .......... 7,134.42 7,354.73 7,843.99 6,006.46 10,673.38 1,199.21 2,149.53 1.72 4.83
2005: Jan ........... 7,056.85 7,282.65 7,841.24 5,970.34 10,539.51 1,181.41 2,071.87 1.77 .................
Feb .......... 7,241.89 7,377.10 8,646.71 6,052.78 10,723.82 1,199.63 2,065.74 1.76 .................
Mar .......... 7,275.51 7,274.12 9,077.38 6,148.03 10,682.09 1,194.90 2,030.43 1.79 5.11
Apr ........... 7,077.97 7,014.98 8,793.74 6,253.05 10,283.19 1,164.42 1,957.49 1.86 .................
May ......... 7,094.02 7,092.20 8,513.39 6,432.30 10,377.18 1,178.28 2,005.22 1.86 .................
June ......... 7,238.96 7,199.86 9,122.87 6,408.88 10,486.68 1,202.26 2,074.02 1.83 5.32
July .......... 7,389.23 7,373.25 9,607.53 6,342.76 10,545.38 1,222.24 2,145.14 1.82 .................
Aug .......... 7,482.93 7,374.01 10,034.26 6,383.81 10,554.27 1,224.27 2,157.85 1.82 .................
Sept ......... 7,584.49 7,435.85 10,672.51 6,412.24 10,532.54 1,225.91 2,144.61 1.84 5.42
Oct ........... 7,373.23 7,368.60 9,915.63 6,270.83 10,324.31 1,191.96 2,087.09 1.90 .................
Nov .......... 7,585.75 7,800.01 9,998.62 6,297.57 10,695.25 1,237.37 2,202.84 1.85 .................
Dec .......... 7,787.22 8,011.76 10,310.18 6,434.97 10,827.79 1,262.07 2,246.09 1.84 .................
1 Averages of daily closing prices.
2 Includes stocks as follows: for NYSE, all stocks listed (in 2005, about 2,800); for Dow Jones Industrial average, 30 stocks; for S&P com-
posite index, 500 stocks; and for Nasdaq composite index, in 2005, over 3,100.
3 The NYSE relaunched the composite index on January 9, 2003, incorporating new definitions, methodology, and base value. Subset indexes
on financial, energy, and health care were released by the NYSE on January 8, 2004.
4 Based on 500 stocks in the S&P composite index.
5 Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices.
Monthly data are averages of weekly figures, annual data are averages of monthly figures.
6 Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter.
Annual data are averages of quarterly ratios.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., Standard & Poor’s (S&P), and Nasdaq Stock Market.
393
2007
TABLE B–96.—Common stock prices and yields, 2000–2006
Common stock prices 1 Common stock yields
(S&P) (percent) 4
Standard Nasdaq
New York Stock Exchange indexes 2 3 Dow & Poor’s composite
Year or month (December 31, 2002=5,000) Jones composite index Dividend- Earnings-
industrial index (Feb. 5, price price
Com- Health average 2 (1941- 1971= ratio 5 ratio 6
Financial Energy
posite Care 43=10) 2 100) 2
2000 .................. 6,805.89 .............. ................ .............. 10,734.90 1,427.22 3,783.67 1.15 3.63
2001 .................. 6,397.85 .............. ................ .............. 10,189.13 1,194.18 2,035.00 1.32 2.95
2002 .................. 5,578.89 .............. ................ .............. 9,226.43 993.94 1,539.73 1.61 2.92
2003 .................. 5,447.46 5,583.00 5,273.90 5,288.67 8,993.59 965.23 1,647.17 1.77 3.84
2004 .................. 6,612.62 6,822.18 6,952.36 5,924.80 10,317.39 1,130.65 1,986.53 1.72 4.89
2005 .................. 7,349.00 7,383.70 9,377.84 6,283.96 10,547.67 1,207.23 2,099.32 1.83 5.36
2006 .................. 8,357.99 8,654.40 11,206.94 6,685.06 11,408.67 1,310.46 2,263.41 1.87 .................
2002: Jan ........... 6,151.15 .............. ................ .............. 9,923.80 1,140.21 1,976.77 1.38 .................
Feb .......... 6,022.23 .............. ................ .............. 9,891.05 1,100.67 1,799.72 1.43 .................
Mar .......... 6,352.08 .............. ................ .............. 10,500.95 1,153.79 1,863.05 1.37 2.15
Apr ........... 6,212.88 .............. ................ .............. 10,165.18 1,112.03 1,758.80 1.42 .................
May ......... 6,087.85 .............. ................ .............. 10,080.48 1,079.27 1,660.31 1.47 .................
June ......... 5,755.89 .............. ................ .............. 9,492.44 1,014.05 1,505.49 1.58 2.70
July .......... 5,139.94 .............. ................ .............. 8,616.52 903.59 1,346.09 1.76 .................
Aug .......... 5,200.62 .............. ................ .............. 8,685.48 912.55 1,327.36 1.72 .................
Sept ......... 4,980.65 .............. ................ .............. 8,160.78 867.81 1,251.07 1.80 3.68
Oct ........... 4,862.70 .............. ................ .............. 8,048.12 854.63 1,241.91 1.86 .................
Nov .......... 5,104.89 .............. ................ .............. 8,625.72 909.93 1,409.15 1.73 .................
Dec .......... 5,075.76 .............. ................ .............. 8,526.66 899.18 1,387.15 1.77 3.14
2003: Jan ........... 5,055.78 5,092.08 4,900.65 5,043.19 8,474.59 895.84 1,389.56 1.80 .................
Feb .......... 4,738.56 4,723.86 4,802.42 4,788.19 7,916.18 837.62 1,313.26 1.95 .................
Mar .......... 4,724.19 4,685.40 4,855.44 4,854.73 7,977.73 846.62 1,348.50 1.93 3.57
Apr ........... 4,977.45 5,036.82 4,916.44 5,078.71 8,332.09 890.03 1,409.83 1.83 .................
May ......... 5,269.96 5,357.20 5,190.65 5,316.27 8,623.41 935.96 1,524.18 1.75 .................
June ......... 5,583.42 5,690.39 5,522.45 5,557.87 9,098.07 988.00 1,631.75 1.66 3.55
July .......... 5,567.94 5,790.61 5,276.08 5,457.98 9,154.39 992.54 1,716.85 1.71 .................
Aug .......... 5,580.87 5,776.36 5,368.25 5,263.19 9,284.78 989.53 1,724.82 1.78 .................
Sept ......... 5,748.42 5,897.76 5,453.23 5,402.56 9,492.54 1,019.44 1,856.22 1.73 3.87
Oct ........... 5,894.39 6,187.33 5,552.99 5,428.31 9,682.46 1,038.73 1,907.89 1.71 .................
Nov .......... 5,989.42 6,282.53 5,474.84 5,521.85 9,762.20 1,049.90 1,939.25 1.69 .................
Dec .......... 6,239.14 6,475.68 5,973.31 5,751.14 10,124.66 1,080.64 1,956.98 1.67 4.38
2004: Jan ........... 6,569.76 6,827.35 6,323.29 6,000.57 10,540.05 1,132.52 2,098.00 1.62 .................
Feb .......... 6,661.38 6,978.62 6,337.87 6,134.16 10,601.50 1,143.36 2,048.36 1.63 .................
Mar .......... 6,574.75 6,914.60 6,455.53 5,908.76 10,323.73 1,123.98 1,979.48 1.68 4.62
Apr ........... 6,600.77 6,792.05 6,638.65 6,028.53 10,418.40 1,133.08 2,021.32 1.68 .................
May ......... 6,371.44 6,495.19 6,572.79 6,022.12 10,083.81 1,102.78 1,930.09 1.74 .................
June ......... 6,548.06 6,683.10 6,780.86 6,063.65 10,364.90 1,132.76 2,000.98 1.70 4.92
July .......... 6,443.45 6,569.52 6,971.57 5,823.34 10,152.09 1,105.85 1,912.42 1.77 .................
Aug .......... 6,352.83 6,566.19 6,866.75 5,733.68 10,032.80 1,088.94 1,821.54 1.81 .................
Sept ......... 6,551.90 6,773.95 7,270.08 5,890.05 10,204.67 1,117.66 1,884.73 1.78 5.18
Oct ........... 6,608.98 6,792.44 7,593.71 5,668.02 10,001.60 1,118.07 1,938.25 1.79 .................
Nov .......... 6,933.75 7,118.40 7,773.26 5,818.20 10,411.76 1,168.94 2,062.87 1.74 .................
Dec .......... 7,134.42 7,354.73 7,843.99 6,006.46 10,673.38 1,199.21 2,149.53 1.72 4.83
2005: Jan ........... 7,056.85 7,282.65 7,841.24 5,970.34 10,539.51 1,181.41 2,071.87 1.77 .................
Feb .......... 7,241.89 7,377.10 8,646.71 6,052.78 10,723.82 1,199.63 2,065.74 1.76 .................
Mar .......... 7,275.51 7,274.12 9,077.38 6,148.03 10,682.09 1,194.90 2,030.43 1.79 5.11
Apr ........... 7,077.97 7,014.98 8,793.74 6,253.05 10,283.19 1,164.42 1,957.49 1.86 .................
May ......... 7,094.02 7,092.20 8,513.39 6,432.30 10,377.18 1,178.28 2,005.22 1.86 .................
June ......... 7,238.96 7,199.86 9,122.87 6,408.88 10,486.68 1,202.26 2,074.02 1.83 5.32
July .......... 7,389.23 7,373.25 9,607.53 6,342.76 10,545.38 1,222.24 2,145.14 1.82 .................
Aug .......... 7,482.93 7,374.01 10,034.26 6,383.81 10,554.27 1,224.27 2,157.85 1.82 .................
Sept ......... 7,584.49 7,435.85 10,672.51 6,412.24 10,532.54 1,225.91 2,144.61 1.84 5.42
Oct ........... 7,373.23 7,368.60 9,915.63 6,270.83 10,324.31 1,191.96 2,087.09 1.90 .................
Nov .......... 7,585.75 7,800.01 9,998.62 6,297.57 10,695.25 1,237.37 2,202.84 1.85 .................
Dec .......... 7,787.22 8,011.76 10,310.18 6,434.97 10,827.79 1,262.07 2,246.09 1.84 5.60
2006: Jan ........... 8,007.35 8,187.86 10,965.30 6,604.09 10,872.48 1,278.72 2,289.99 1.83 .................
Feb .......... 8,044.86 8,280.82 10,741.43 6,566.87 10,971.19 1,276.65 2,273.67 1.86 .................
Mar .......... 8,174.34 8,459.04 10,702.23 6,653.63 11,144.45 1,293.74 2,300.26 1.85 5.61
Apr ........... 8,351.28 8,572.54 11,467.85 6,519.78 11,234.68 1,302.18 2,338.68 1.85 .................
May ......... 8,353.45 8,608.10 11,380.52 6,488.14 11,333.88 1,290.00 2,245.28 1.90 .................
June ......... 7,985,59 8,225.13 10,690.86 6,395.87 10,997.97 1,253.12 2,137.41 1.96 5.86
July .......... 8,103.97 8,340.25 11,360.86 6,566.19 11,032.53 1,260.24 2,086.21 1.94 .................
Aug .......... 8,294.89 8,574.68 11,610.65 6,763.81 11,257.35 1,287.15 2,117.77 1.92 .................
Sept ......... 8,383.29 8,789.30 10,807.75 6,910.95 11,533.60 1,317.81 2,221.94 1.87 5.88
Oct ........... 8,651.02 9,101.77 11,020.11 6,975.17 11,963.12 1,363.38 2,330.17 1.83 .................
Nov .......... 8,856.30 9,251.53 11,657.36 6,845.16 12,185.15 1,388.63 2,408.70 1.80 .................
Dec .......... 9,089.55 9,461.77 12,078.39 6,931.01 12,377.62 1,416.42 2,431.91 1.79 .................
1 Averages of daily closing prices.
2 Includes stocks as follows: for NYSE, all stocks listed (in 2006, over 2,650); for Dow Jones Industrial average, 30 stocks; for S&P com-
posite index, 500 stocks; and for Nasdaq composite index, in 2006, about 3,200.
3 The NYSE relaunched the composite index on January 9, 2003, incorporating new definitions, methodology, and base value. Subset indexes
on financial, energy, and health care were released by the NYSE on January 8, 2004.
cprice-sewell on PROD1PC72 with ER4-EOP TABLES
4 Based on 500 stocks in the S&P composite index.
5 Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices.
Monthly data are averages of weekly figures, annual data are averages of monthly figures.
6 Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter.
Annual data are averages of quarterly ratios.
Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., Standard & Poor’s (S&P), and Nasdaq Stock Market.
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