Wednesday, January 22, 2014

Stock Market Performance on Thanksgiving and Black Friday

Stock Market Performance on Thanksgiving and Black Friday
   This year Wall Street has been setting records, making investors particularly happy while they celebrate Thanksgiving. S&P 500 has shown spectacular performance in 2013, soaring 30% year-to-date. The index is above 1,800 while the Dow Jones Industrial Average is coasting above 16,000. The Nasdaq Composite Index surfaced above the 4,000 level after 13 years and has managed to stay above it going into Thanksgiving. 
The stock market, on average, posted positive numbers both pre-Thanksgiving and post-Thanksgiving since 2004. S&P 500 has generated a return of 0.32% one day prior to Thanksgiving and returned 0.08%, on average, on Black Friday. The Dow Jones and Nasdaq indexes have increased 0.22% and 1.06% respectively the day before Thanksgiving. Meanwhile, on Black Friday on average the Dow Jones increased 0.13% and Nasdaq remained flat.
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