Wednesday, January 2, 2013
Best First Days in Dow History
The averages are up around 2% to start 2013--for historical comparison the chart below shows the best first days in Dow history going back to 1900. The Dow has only closed 2%+ higher on 9 occasions since then. The first day of the year has been positive about 55% of the time, and the worst first day was in 1932 when the Dow was down 8.1%.
Admittedly, this analysis is a little silly. The first day of the year has no empirical correlation to full year returns.