TABLE B–95.—Common stock prices and yields, 1959–2001 Common stock prices New York Stock Exchange indexes (Dec. 31, 1965=50) Year or month Composite Industrial Transportatio n ...... ...... ...... ...... ...... ...... ...... 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 Utility 3 Finance
2 1
Dow Jones industrial average 2
Standard & Poor's composite index (194143=10) 2 57.38 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
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
30.73 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
...... ...... ...... ...... ...... ...... ...... 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
...... ...... ...... ...... ...... ...... ...... 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
...... ...... ...... ...... ...... ...... ...... 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
632.12 618.04 691.55 639.76 714.81 834.05 910.88 873.60 879.12 906.00 876.72 753.19 884.76 950.71 923.88 759.37 802.49 974.92 894.63 820.23 844.40 891.41 932.92 884.36 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
1998 1999 2000 2001 2000: Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 2001: Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
1 2
550.26 619.16 643.66 605.07 634.07 606.03 622.28 646.82 640.07 649.61 653.27 666.14 667.05 646.53 646.64 645.44 650.55 648.05 603.44 607.06 644.44 630.86 613.36 604.52 544.39 556.04 575.30 582.82
681.57 774.78 810.63 748.26 814.73 775.46 790.35 822.76 814.75 819.54 825.28 837.23 829.99 803.88 800.88 792.66 796.74 799.38 744.21 747.48 798.94 782.73 756.04 748.65 672.89 688.35 715.98 727.67
468.69 491.60 413.60 443.59 456.36 398.69 384.39 406.14 411.50 395.09 410.67 419.84 404.23 401.37 434.92 439.97 471.21 482.26 452.36 455.22 477.21 458.60 469.80 458.39 382.68 371.56 410.05 433.70
378.12 473.73 477.65 377.30 485.82 482.30 509.59 502.78 487.17 501.93 484.19 459.91 464.66 453.68 455.66 444.16 440.36 424.53 395.34 400.49 414.69 382.98 374.11 357.76 339.72 341.51 330.78 325.33
516.35 530.86 553.13 595.61 495.23 471.65 489.90 524.05 523.22 544.51 556.32 597.17 616.89 596.53 600.45 621.62 634.17 626.41 583.38 587.88 618.74 622.17 614.54 605.59 538.01 553.16 577.85 585.47
8,625.52 10,464.88 10,734.90 10,189.13 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 10,652.41 10,682.74 10,774.57 10,081.32 10,234.52 11,004.96 10,767.20 10,444.50 10,314.68 9,042.56 9,220.75 9,721.82 9,979.88
1,085.50 1,327.33 1,427.22 1,194.18 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 1,330.93 1,335.63 1,305.75 1,185.85 1,189.84 1,270.37 1,238.71 1,204.45 1,178.51 1,044.64 1,076.59 1,129.68 1,144.93
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 (nearly 3,000); for Dow Jones industrial average, 30 stocks; for S&P composite index, 500 stocks; and 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 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 av 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 ratios. 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 Nasdaq composite Dividend index (Feb. 5, price ratio 5 1971= 100) 2 ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... 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 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
Earnings price ratio
6
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
1,794.91 2,728.15 3,783.67 2,035.00 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 2,657.81 2,656.86 2,449.57 1,986.66 1,933.93 2,181.13 2,112.05 2,033.98 1,929.71 1,573.31 1,656.43 1,870.06 1,977.71
1.49 1.25 1.15 1.32 1.18 1.21 1.18 1.14 1.17 1.12 1.10 1.09 1.10 1.15 1.16 1.19 1.16 1.22 1.33 1.32 1.23 1.26 1.30 1.34 1.48 1.45 1.38 1.36
3.46 3.17 3.63 ...... ...... ...... 3.40 ...... ...... 3.57 ...... ...... 3.74 ...... ...... 3.79 ...... ...... 3.92 ...... ...... 3.00 ...... ...... 2.72 ...... ...... ......
&P composite index, 500 stocks; and for Nasdaq
ex. Annual indexes prior to 1993 reflect the doubling.
closing prices. Monthly data are averages of weekly
that quarter. Annual data are averages of quarterly
ion of Securities Dealers, Inc.