Every day we hear that the Dow was up (or down) or that the S&P was such and such. What does it mean? What is the Dow? What is the S&P?
In order to gauge how the stock market did on a particular day or a longer period, we use a market index to measure performance. Market indices take many flavors. For example, the Dow Jones Industrial average, the most famous index in the world, is a price weighted index or 30 large firms that are on the New York Stock Exchagne(NYSE). Others indicies, such as the S&P 500 are market value based…
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