TABLE B–95.—Common stock prices and yields, 1959–2000 Common stock prices Year or month New York Stock Exchange indexes (Dec. 31, 1965=50) 2
1
1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998
Standard Nasdaq Dow Jones & Poor's composite industrial composite index Transpor 2 3 Composite Industrial Finance average index (Feb. 5 Utility tation (1941–43= 1971= 30.73 ... ... ... ... 632.12 57.38 ... 30.01 35.37 33.49 37.51 43.76 47.39 46.15 50.77 55.37 54.67 45.72 54.22 60.29 57.42 43.84 45.73 54.46 53.69 53.70 58.32 68.10 74.02 68.93 92.63 92.46 108.09 136.00 161.70 149.91 180.02 183.46 206.33 229.01 249.58 254.12 291.15 358.17 456.54 550.26 ... ... ... ... ... ... 46.18 51.97 58.00 57.44 48.03 57.92 65.73 63.08 48.08 50.52 60.44 57.86 58.23 64.76 78.70 85.44 78.18 107.45 108.01 123.79 155.85 195.31 180.95 216.23 225.78 258.14 284.62 299.99 315.25 367.34 453.98 574.52 681.57 ... ... ... ... ... ... 50.26 53.51 50.58 46.96 32.14 44.35 50.17 37.74 31.89 31.10 39.57 41.09 43.50 47.34 60.61 72.61 60.41 89.36 85.63 104.11 119.87 140.39 134.12 175.28 158.62 173.99 201.09 242.49 247.29 269.41 327.33 414.60 468.69 ... ... ... ... ... ... 90.81 90.86 88.38 85.60 74.47 79.05 76.95 75.38 59.58 63.00 73.94 81.84 78.44 76.41 74.69 77.81 79.49 93.99 92.89 113.49 142.72 148.59 143.53 174.87 181.20 185.32 198.91 228.90 209.06 220.30 249.77 283.82 378.12 ... ... ... ... ... ... 44.45 49.82 65.85 70.49 60.00 70.38 78.35 70.12 49.67 47.14 52.94 55.25 56.65 61.42 64.25 73.52 71.99 95.34 89.28 114.21 147.20 146.48 127.26 151.88 133.26 150.82 179.26 216.42 209.73 238.45 303.89 424.48 516.35 618.04 691.55 639.76 714.81 834.05 910.88 873.60 879.12 906.00 876.72 753.19 884.76 950.71 923.88 759.37 802.49 974.92 894.63 820.23 844.40 891.41 932.92 884.36 1,190.34 1,178.48 1,328.23 1,792.76 2,275.99 2,060.82 2,508.91 2,678.94 2,929.33 3,284.29 3,522.06 3,793.77 4,493.76 5,742.89 7,441.15 8,625.52 55.85 66.27 62.38 69.87 81.37 88.17 85.26 91.93 98.70 97.84 83.22 98.29 109.20 107.43 82.85 86.16 102.01 98.20 96.02 103.01 118.78 128.05 119.71 160.41 160.46 186.84 236.34 286.83 265.79 322.84 334.59 376.18 415.74 451.41 460.42 541.72 670.50 873.43 1,085.50 ... ... ... ... ... ... ... ... ... ... ... 107.44 128.52 109.90 76.29 77.20 89.90 98.71 117.53 136.57 168.61 203.18 188.97 285.43 248.88 290.19 366.96 402.57 374.43 437.81 409.17 491.69 599.26 715.16 751.65 925.19 1,164.96 1,469.49 1,794.91
1999 1999: Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 2000: Jan Feb Mar Apr May June July Aug Sept Oct Nov
1 2
619.16 595.43 588.70 603.69 627.75 635.62 629.53 648.83 621.03 607.87 599.04 634.22 638.17 634.07 606.03 622.28 646.82 640.07 649.61 653.27 666.14 667.05 646.53 646.64
774.78 741.43 736.20 751.93 780.84 791.72 783.96 809.33 778.82 769.47 753.94 791.41 808.28 814.73 775.46 790.35 822.76 814.75 819.54 825.28 837.23 829.99 803.88 800.88
491.60 479.72 477.47 491.25 523.08 537.88 520.66 528.72 492.13 462.33 450.13 474.78 461.04 456.36 398.69 384.39 406.14 411.50 395.09 410.67 419.84 404.23 401.37 434.92
473.73 449.50 436.49 436.23 456.96 470.40 482.71 501.00 483.68 475.42 478.19 502.59 511.64 485.82 482.30 509.59 502.78 487.17 501.93 484.19 459.91 464.66 453.68 455.66
530.86 523.38 514.75 544.08 564.99 562.66 546.43 557.92 521.59 493.37 490.92 539.20 510.99 495.23 471.65 489.90 524.05 523.22 544.51 556.32 597.17 616.89 596.53 600.45
10,464.88 9,345.86 9,322.94 9,753.63 10,443.50 10,853.87 10,704.02 11,052.22 10,935.47 10,714.03 10,396.88 10,809.80 11,246.36 11,281.26 10,541.93 10,483.39 10,944.31 10,580.27 10,582.93 10,662.95 11,014.51 10,967.87 10,440.96 10,666.06
1,327.33 1,248.77 1,246.58 1,281.66 1,334.76 1,332.07 1,322.55 1,380.99 1,327.49 1,318.17 1,300.01 1,391.00 1,428.68 1,425.59 1,388.87 1,442.21 1,461.36 1,418.48 1,461.96 1,473.00 1,485.46 1,468.05 1,390.14 1,375.04
2,728.15 2,357.80 2,356.99 2,391.14 2,537.89 2,512.60 2,520.96 2,741.26 2,642.45 2,807.95 2,815.28 3,230.55 3,739.88 4,013.49 4,410.87 4,802.99 3,863.64 3,528.42 3,865.48 4,017.69 3,909.60 3,875.82 3,333.82 3,055.42
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; for S&P composite index, 500 stocks 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 refl
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 avera Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., Standard & Poor's (S&P), and the National Association of Securities Dealers, Inc.
Common stock yields (S&P) (percent) 4 Dividend Earnings price ratio price ratio
5 6
3.23 3.47 2.98 3.37 3.17 3.01 3.00 3.40 3.20 3.07 3.24 3.83 3.14 2.84 3.06 4.47 4.31 3.77 4.62 5.28 5.47 5.26 5.20 5.81 4.40 4.64 4.25 3.49 3.08 3.64 3.45 3.61 3.24 2.99 2.78 2.82 2.56 2.19 1.77 1.49
5.78 5.90 4.62 5.82 5.50 5.32 5.59 6.63 5.73 5.67 6.08 6.45 5.41 5.50 7.12 11.59 9.15 8.90 10.79 12.03 13.46 12.66 11.96 11.60 8.03 10.02 8.12 6.09 5.48 8.01 7.42 6.47 4.79 4.22 4.46 5.83 6.09 5.24 4.57 3.46
1.25 1.30 1.32 1.30 1.24 1.24 1.25 1.20 1.25 1.27 1.28 1.21 1.18 1.18 1.21 1.18 1.14 1.17 1.12 1.10 1.09 1.10 1.15 1.16
3.17 ... ... 2.98 ... ... 2.99 ... ... 3.43 ... ... 3.28 ... ... 3.40 ... ... 3.57 ... ... 3.74 ... ...
&P composite index, 500 stocks; and
Annual indexes prior to 1993 reflect the
osing prices. Monthly data are
at quarter. Annual data are averages of of Securities Dealers, Inc.