[Economic Report of the President (2003)] [Administration of George W. Bush] [Online through the Government Publishing Office, www.gpo.gov] Table B-95.--Common stock prices and yields, 1965-2002 -------------------------------------------------------------------------------------------------------------------------------------------------------- Common stock prices \1\ Common stock yields ---------------------------------------------------------------------------------------------- (S&P) (percent) \4\ New York Stock Exchange indexes (Dec. 31, 1965=50) \2\ Standard Nasdaq --------------------- ------------------------------------------------------------ & Poor's composite Year or month Dow Jones composite index Dividend- Earnings- industrial index (Feb. 5, price price Composite Industrial Transportation Utility Finance average (1941- 1971= ratio \5\ ratio \6\ \3\ \2\ 43=10) 100) \2\ -----------------------------------------------------------------------------------------------------------------\2\------------------------------------ 1965................................ 47.39 .......... .............. .......... ....... 910.88 88.17 ......... 3.00 5.59 1966................................ 46.15 46.18 50.26 90.81 44.45 873.60 85.26 ......... 3.40 6.63 1967................................ 50.77 51.97 53.51 90.86 49.82 879.12 91.93 ......... 3.20 5.73 1968................................ 55.37 58.00 50.58 88.38 65.85 906.00 98.70 ......... 3.07 5.67 1969................................ 54.67 57.44 46.96 85.60 70.49 876.72 97.84 ......... 3.24 6.08 1970................................ 45.72 48.03 32.14 74.47 60.00 753.19 83.22 ......... 3.83 6.45 1971................................ 54.22 57.92 44.35 79.05 70.38 884.76 98.29 107.44 3.14 5.41 1972................................ 60.29 65.73 50.17 76.95 78.35 950.71 109.20 128.52 2.84 5.50 1973................................ 57.42 63.08 37.74 75.38 70.12 923.88 107.43 109.90 3.06 7.12 1974................................ 43.84 48.08 31.89 59.58 49.67 759.37 82.85 76.29 4.47 11.59 1975................................ 45.73 50.52 31.10 63.00 47.14 802.49 86.16 77.20 4.31 9.15 1976................................ 54.46 60.44 39.57 73.94 52.94 974.92 102.01 89.90 3.77 8.90 1977................................ 53.69 57.86 41.09 81.84 55.25 894.63 98.20 98.71 4.62 10.79 1978................................ 53.70 58.23 43.50 78.44 56.65 820.23 96.02 117.53 5.28 12.03 1979................................ 58.32 64.76 47.34 76.41 61.42 844.40 103.01 136.57 5.47 13.46 1980................................ 68.10 78.70 60.61 74.69 64.25 891.41 118.78 168.61 5.26 12.66 1981................................ 74.02 85.44 72.61 77.81 73.52 932.92 128.05 203.18 5.20 11.96 1982................................ 68.93 78.18 60.41 79.49 71.99 884.36 119.71 188.97 5.81 11.60 1983................................ 92.63 107.45 89.36 93.99 95.34 1,190.34 160.41 285.43 4.40 8.03 1984................................ 92.46 108.01 85.63 92.89 89.28 1,178.48 160.46 248.88 4.64 10.02 1985................................ 108.09 123.79 104.11 113.49 114.21 1,328.23 186.84 290.19 4.25 8.12 1986................................ 136.00 155.85 119.87 142.72 147.20 1,792.76 236.34 366.96 3.49 6.09 1987................................ 161.70 195.31 140.39 148.59 146.48 2,275.99 286.83 402.57 3.08 5.48 1988................................ 149.91 180.95 134.12 143.53 127.26 2,060.82 265.79 374.43 3.64 8.01 1989................................ 180.02 216.23 175.28 174.87 151.88 2,508.91 322.84 437.81 3.45 7.42 1990................................ 183.46 225.78 158.62 181.20 133.26 2,678.94 334.59 409.17 3.61 6.47 1991................................ 206.33 258.14 173.99 185.32 150.82 2,929.33 376.18 491.69 3.24 4.79 1992................................ 229.01 284.62 201.09 198.91 179.26 3,284.29 415.74 599.26 2.99 4.22 1993................................ 249.58 299.99 242.49 228.90 216.42 3,522.06 451.41 715.16 2.78 4.46 1994................................ 254.12 315.25 247.29 209.06 209.73 3,793.77 460.42 751.65 2.82 5.83 1995................................ 291.15 367.34 269.41 220.30 238.45 4,493.76 541.72 925.19 2.56 6.09 1996................................ 358.17 453.98 327.33 249.77 303.89 5,742.89 670.50 1,164.96 2.19 5.24 1997................................ 456.54 574.52 414.60 283.82 424.48 7,441.15 873.43 1,469.49 1.77 4.57 1998................................ 550.26 681.57 468.69 378.12 516.35 8,625.52 1,085.50 1,794.91 1.49 3.46 1999................................ 619.16 774.78 491.60 473.73 530.86 10,464.88 1,327.33 2,728.15 1.25 3.17 2000................................ 643.66 810.63 413.60 477.65 553.13 10,734.90 1,427.22 3,783.67 1.15 3.63 2001................................ 605.07 748.26 443.59 377.30 595.61 10,189.13 1,194.18 2,035.00 1.32 2.95 2002................................ 527.62 657.37 431.10 260.85 555.27 9,226.43 993.94 1,539.73 1.61 ......... 2001: Jan........................... 650.55 796.74 471.21 440.36 634.17 10,682.74 1,335.63 2,656.86 1.16 ......... Feb........................... 648.05 799.38 482.26 424.53 626.41 10,774.57 1,305.75 2,449.57 1.22 ......... Mar........................... 603.44 744.21 452.36 395.34 583.38 10,081.32 1,185.85 1,986.66 1.33 3.92 Apr........................... 607.06 747.48 455.22 400.49 587.88 10,234.52 1,189.84 1,933.93 1.32 ......... May........................... 644.44 798.94 477.21 414.69 618.74 11,004.96 1,270.37 2,181.13 1.23 ......... June.......................... 630.86 782.73 458.60 382.98 622.17 10,767.20 1,238.71 2,112.05 1.27 3.00 July.......................... 613.36 756.04 469.80 374.11 614.54 10,444.50 1,204.45 2,033.98 1.30 ......... Aug........................... 604.52 748.65 458.39 357.76 605.59 10,314.68 1,178.51 1,929.71 1.34 ......... Sept.......................... 544.39 672.89 382.68 339.72 538.01 9,042.56 1,044.64 1,573.31 1.48 2.72 Oct........................... 556.04 688.35 371.56 341.51 553.16 9,220.75 1,076.59 1,656.43 1.45 ......... Nov........................... 575.30 715.98 410.05 330.78 577.85 9,721.82 1,129.68 1,870.06 1.38 ......... Dec........................... 582.82 727.67 433.70 325.33 585.47 9,979.88 1,144.93 1,977.71 1.36 2.15 2002: Jan........................... 581.74 723.56 446.13 322.49 591.94 9,923.80 1,140.21 1,976.77 1.38 ......... Feb........................... 569.55 715.80 453.51 301.32 570.18 9,891.05 1,100.67 1,799.72 1.43 ......... Mar........................... 600.74 751.79 490.51 316.27 609.72 10,500.95 1,153.79 1,863.05 1.37 2.15 Apr........................... 587.58 732.71 470.00 300.66 610.24 10,165.18 1,112.03 1,758.80 1.42 ......... May........................... 575.75 718.12 459.55 287.10 603.15 10,080.48 1,079.27 1,660.31 1.47 ......... June.......................... 544.36 677.58 449.42 265.21 577.05 9,492.44 1,014.05 1,505.49 1.58 2.70 July.......................... 486.11 603.04 416.10 230.19 524.01 8,616.52 903.59 1,346.09 1.76 ......... Aug........................... 491.84 611.34 409.96 225.52 533.60 8,685.48 912.55 1,327.36 1.72 ......... Sept.......................... 471.04 589.14 388.19 210.76 506.05 8,160.78 867.81 1,251.07 1.80 3.68 Oct........................... 459.88 574.45 383.41 207.83 494.06 8,048.12 854.63 1,241.91 1.86 ......... Nov........................... 482.79 597.75 405.03 229.41 523.50 8,625.72 909.93 1,409.15 1.73 ......... Dec........................... 480.04 593.15 401.39 233.38 519.72 8,526.66 899.18 1,387.15 1.77 ......... -------------------------------------------------------------------------------------------------------------------------------------------------------- \1\ Averages of daily closing prices. \2\ Includes stocks as follows: for NYSE, all stocks listed (nearly 3,000); for Dow Jones industrial average, 30 stocks; for S&P composite index, 500 stocks; and for Nasdaq composite index, over 4,000. \3\ Effective April 1993, the NYSE doubled the value of the utility index to facilitate trading of options and futures on the index. Annual indexes prior to 1993 reflect the doubling. \4\ Based on 500 stocks in the S&P composite index. \5\ Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures. \6\ Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that quarter. Annual data are averages of quarterly ratios. Note.--Data shown are as of December 31, 2002. On January 9, 2003, the New York Stock Exchange issued a revised composite index using new methodology, definitions, and base value. Sources: New York Stock Exchange (NYSE), Dow Jones & Co., Inc., Standard & Poor's (S&P), and Nasdaq Stock Market.