Friday, September 29, 2006
Dow Jones Industrial Average Has Best Third Quarter in 11 Years
Posted by Gary .....at 7:30 PM
The Dow Jones Industrial Average finished the third quarter with a gain of 5.4%, including dividends. This was the best third quarter performance for the Dow since 1995. As well, the benchmark S&P 500 had its best third quarter in 9 years, finishing with a gain of 5.7%, including dividends. The Dow is now only 71 points away from its January 14, 2000 all-time record high of 11,750. Sector standouts during the third quarter were software (+14.6%), telecom (+12.2%) and REITs (+10.2%). Sector losers included coal (-17.6%), oil service (-10.6%) and steel (-11.1%). I still expect the S&P 500 to gain at least 15% for the year. It is currently up 8.5% year-to-date.