Market Overview December 2009: Fisher Capital Management
Market Overview December 2009: Fisher Capital Management - Stocks closed lower in October
for the first time in seven months, as investors questioned whether the huge rally off the March
lows had...
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Market Overview December 2009: Fisher Capital Management
Market Overview December 2009: Fisher Capital Management - Stocks closed lower in October
for the first time in seven months, as investors questioned whether the huge rally off the March
lows had exceeded the economy’s ability to generate growth in output and profits.
Indeed, equities capped off a volatile month (the Dow Jones Industrial Average (DJIA)
experienced triple-digit moves in ten trading sessions!) with a volatile week, as the S&P 500
Index experienced its worst five-day span since early July.
For the month, the DJIA eked out a fractional gain, while all the other major equity market
indices suffered losses.
Small cap stocks, which had been among the performance leaders of
the seven-month rally, experienced the worst hit, with the Russell 2000® Index falling by almost
7%.
In another sign that the market may be growing skeptical of the “higher risk, higher reward”
strategy, the NASDAQ Composite Index, dominated by te
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