13 minutes into 2009, what can we say about the new year? It’s off to a much better start than last year. If you recall, the first few trading days of 2008 were pretty rough, setting the state perfectly for the year that was. On December 31, 2007 the S&P 500 closed at 1468. On January 1, it closed at 1442, for a 1.7% decline. Two days later, on January 4, the market closed at 1411, for a 3.8% decline.
Of course, these days a 3.8% daily swing is nothing special, but at the time that felt like a real jittery start.
So the fact that a few minutes into the new year the S&P 500 is up .30% looks like a good start.