TABLE B–96.—Common stock prices and yields, 2000–2004 Common stock prices New York Stock Exchange indexes (December 31, 2002=5,000
2 3 1
Year or month
Composite Financial 2000 2001 2002 2003 2004 2001: Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 2002: Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 2003: Jan Feb Mar Apr May June July Aug Sept 6,805.89 6,397.85 5,578.89 5,447.46 6,612.62 6,878.79 6,852.31 6,380.65 6,418.94 6,814.16 6,670.56 6,485.53 6,391.99 5,756.20 5,879.37 6,083.09 6,162.59 6,151.15 6,022.23 6,352.08 6,212.88 6,087.85 5,755.89 5,139.94 5,200.62 4,980.65 4,862.70 5,104.89 5,075.76 5,055.78 4,738.56 4,724.22 4,977.45 5,269.96 5,583.42 5,567.94 5,580.87 5,748.42 ...... ...... ...... 5,583.00 6,822.18 ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... 5,092.08 4,723.86 4,685.40 5,036.82 5,357.20 5,690.39 5,790.61 5,776.36 5,897.76
Energy ...... ...... ...... 5,273.90 6,952.36 ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... 4,900.65 4,802.42 4,855.44 4,916.44 5,190.65 5,522.45 5,276.08 5,368.25 5,453.23
Health Care ...... ...... ...... 5,288.67 5,924.80 ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... ...... 5,043.19 4,788.19 4,854.73 5,078.71 5,316.27 5,557.87 5,457.98 5,263.19 5,402.56
Standard Nasdaq & Poor's Dow Jones composite composite industrial index (Feb. index 2 5, 1971= average (1941100) 2 2 43=10) 10,734.90 10,189.13 9,226.43 8,993.59 10,317.39 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 9,923.80 9,891.05 10,500.95 10,165.18 10,080.48 9,492.44 8,616.52 8,685.48 8,160.78 8,048.12 8,625.72 8,526.66 8,474.59 7,916.18 7,977.73 8,332.09 8,623.41 9,098.07 9,154.39 9,284.78 9,492.54 1,427.22 1,194.18 993.94 965.23 1,130.65 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 1,140.21 1,100.67 1,153.79 1,112.03 1,079.27 1,014.05 903.59 912.55 867.81 854.63 909.93 899.18 895.84 837.62 846.62 890.03 935.96 988.00 992.54 989.53 1,019.44 3,783.67 2,035.00 1,539.73 1,647.17 1,986.53 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 1,976.77 1,799.72 1,863.05 1,758.80 1,660.31 1,505.49 1,346.09 1,327.36 1,251.07 1,241.91 1,409.15 1,387.15 1,389.56 1,313.26 1,348.50 1,409.83 1,524.18 1,631.75 1,716.85 1,724.82 1,856.22
Oct Nov Dec 2004: Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
1 2
5,894.39 5,989.42 6,239.14 6,569.76 6,661.38 6,574.75 6,600.77 6,371.44 6,548.06 6,443.45 6,352.83 6,551.90 6,608.98 6,933.75 7,134.42
6,187.33 6,282.53 6,475.68 6,827.35 6,978.62 6,914.60 6,792.05 6,495.19 6,683.10 6,569.52 6,566.19 6,773.95 6,792.44 7,118.40 7,354.73
5,552.99 5,474.84 5,973.31 6,323.29 6,337.87 6,455.53 6,638.65 6,572.79 6,780.86 6,971.57 6,866.75 7,270.08 7,593.71 7,773.26 7,843.99
5,428.31 5,521.85 5,751.14 6,000.57 6,134.16 5,908.76 6,028.53 6,022.12 6,063.65 5,823.34 5,733.68 5,890.05 5,668.02 5,818.20 6,006.46
9,682.46 9,762.20 10,124.66 10,540.05 10,601.50 10,323.73 10,418.40 10,083.81 10,364.90 10,152.09 10,032.80 10,204.67 10,001.60 10,411.76 10,673.38
1,038.73 1,049.90 1,080.64 1,132.52 1,143.36 1,123.98 1,133.08 1,102.78 1,132.76 1,105.85 1,088.94 1,117.66 1,118.07 1,168.94 1,199.21
1,907.89 1,939.25 1,956.98 2,098.00 2,048.36 1,979.48 2,021.32 1,930.09 2,000.98 1,912.42 1,821.54 1,884.73 1,938.25 2,062.87 2,149.53
Averages of daily closing prices.
Includes stocks as follows: for NYSE, all stocks listed (in 2004, about 3,000); for Dow Jones Industrial average, 30 stocks; for S&P composite index, 500 sto 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 avera of quarterly ratios. Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., Standard & Poor's (S&P), and Nasdaq Stock Market.
Common stock yields (S&P) (percent) 4
Dividendprice ratio 5
Earningsprice ratio 6
1.15 1.32 1.61 1.77 1.72 1.16 1.22 1.33 1.32 1.23 1.27 1.30 1.34 1.48 1.45 1.38 1.36 1.38 1.43 1.37 1.42 1.47 1.58 1.76 1.72 1.80 1.86 1.73 1.77 1.80 1.95 1.93 1.83 1.75 1.66 1.71 1.78 1.73
3.63 2.95 2.92 3.84 ...... ...... ...... 3.92 ...... ...... 3.00 ...... ...... 2.72 ...... ...... 2.15 ...... ...... 2.15 ...... ...... 2.70 ...... ...... 3.68 ...... ...... 3.14 ...... ...... 3.57 ...... ...... 3.55 ...... ...... 3.87
1.71 1.69 1.67 1.62 1.63 1.68 1.68 1.74 1.70 1.77 1.81 1.78 1.79 1.74 1.72
...... ...... 4.38 ...... ...... 4.62 ...... ...... 4.92 ...... ...... 5.18 ...... ...... ......
ocks; for S&P composite index, 500 stocks;
e value. Subset indexes on financial,
day closing prices. Monthly data are of that quarter. Annual data are averages
ket.