Strong Market Performance Powers First-Half 2007 Results
by Wayne A. Thorp
The market managed to shrug off one of the biggest single-day declines in recent memory, when the Dow Jones industrial average dropped over 400 points and the S&P 500 shed almost 3.5% on February 27, 2007. After bottoming-out in early March, the S&P 500 gained almost 12% through the end of May 2007. Time will tell whether Junes lackluster beginning is only a speed bump or a barricade. Despite the markets recent swoon, the S&P 500 is still up for the year.
Most of the stock screens tracked on AAII.com are outperforming the broad market indexes thus far for 2007: Only four of 55 are down for the year while 36 of 55 are outperforming the S&P 500. Mid-cap issues are enjoying the best performance thus far in 2007 as compared to small-cap and large-cap stocks.
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