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March 14, 2009
Comparative stock market performance
In Blaming Obama without the data work, I said that I should hold off on part of my criticisms of the Obama administrations economic performance until I looked out how the US markets have fared since the inauguration in comparison with other global markets. I know that what is good for the markets need not be good for the economy, but it serves as probably the best tool we have for short term estimates of economic performance across countries.
I have to revise my prior beliefs some. It seems the broad US stock index has outperformed the weighted global stock market index (excluding the US) by about 3%.
| Type | Index (Region/Country) | Percent Change from January 20 to March 13) |
| Domestic | Dow Jones Industrials | -3.79% |
| Domestic | S&P 500 Index | -6.04% |
| Domestic | Russell 3000 | -6.07% |
| International | DJ World ex U.S. (World) | -8.86% |
| International | DJ Euro Stoxx 50 (Euro zone) | -10.51% |
| International | FTSE 250 (U.K.) | 0.33% |
| International | Hang Seng (Hong Kong) | -3.35% |
| International | IPC All-Share (Mexico) | 1.17% |
| International | Kospi (South Korea) | -0.07% |
| International | Nikkei Stock Avg (Japan) | -6.16% |
| International | Swiss Market (Switzerland) | -11.17% |
| International | DJ CBN China 600 (China) | 9.37% |
| International | Bombay Sensex (India) | -3.78% |
I understand that some might quibble with what day exactly we can start holding Obama responsible for expectations of future economic conditions in the US. I don't know the right answer and just offer this up as a first attempt. Under the fold you can see every international and domestic index I could get from the WSJ data source.
If this is true, I guess it doesn't mean that Obama is doing a good job, just that he is doing a comparably better job that leaders of other countries are doing. Having said that, evaluating Bush's presidency the same way could well paint him favorably as well.
| Type | Index (Region/Country) | Percent Change from January 20 to March 13) |
| Domestic | 100 Index | -5.70% |
| Domestic | 500 Index | -6.04% |
| Domestic | 65 Composite | -13.26% |
| Domestic | Alternext Biotech | -2.72% |
| Domestic | Alternext Composite | -2.23% |
| Domestic | Alternext Internet/I.W.Internet | 9.88% |
| Domestic | Alternext Pharma | -8.05% |
| Domestic | Arca Tech 100 | -0.75% |
| Domestic | Banks | -11.08% |
| Domestic | Barron's 400 | -6.15% |
| Domestic | Biotech | -4.29% |
| Domestic | CBOE Internet | 4.47% |
| Domestic | CBOE Volatility | -25.23% |
| Domestic | Composite | -3.66% |
| Domestic | Computer | 5.34% |
| Domestic | Energy | -4.54% |
| Domestic | Financial | -4.39% |
| Domestic | Fox 50 | -6.52% |
| Domestic | Health Care | -8.07% |
| Domestic | Industrial Average | -9.12% |
| Domestic | Industrials | -3.79% |
| Domestic | Insurance | -12.55% |
| Domestic | Internet | 12.53% |
| Domestic | JPM Index (U.S. dollar) | 2.96% |
| Domestic | KBW Bank | 0.99% |
| Domestic | MidCap 400 | -5.98% |
| Domestic | Morgan Stanley High Tech | 6.50% |
| Domestic | Nasdaq 100 | 2.81% |
| Domestic | Ocean Tomo 300 | -6.42% |
| Domestic | Ocean Tomo Growth | -1.08% |
| Domestic | Ocean Tomo Value | -7.73% |
| Domestic | PHLX Gold/Silver§ | 7.73% |
| Domestic | PHLX Housing§ | -8.42% |
| Domestic | PHLX Oil Service§ | 7.35% |
| Domestic | PHLX Semiconductor§ | 10.57% |
| Domestic | Q-50 | -0.58% |
| Domestic | Russell 1000 | -5.80% |
| Domestic | Russell 2000 | -9.35% |
| Domestic | Russell 3000 | -6.07% |
| Domestic | SmallCap 600 | -10.23% |
| Domestic | SuperComp 1500 | -6.19% |
| Domestic | Telecommunications | 1.29% |
| Domestic | Transportation Average | -18.23% |
| Domestic | Utility Average | -16.08% |
| Domestic | Value Line | -12.02% |
| Domestic | Wilshire 2500 | -5.92% |
| Domestic | Wilshire 5000 | -5.62% |
| Domestic | Wilshire Large-Cap Growth | -3.60% |
| Domestic | Wilshire Large-Cap Value | -7.75% |
| Domestic | Wilshire Micro | -10.42% |
| Domestic | Wilshire Mid-Cap Growth | -2.52% |
| Domestic | Wilshire Mid-Cap Value | -12.10% |
| Domestic | Wilshire REIT | -13.13% |
| Domestic | Wilshire Small-Cap Growth | -5.37% |
| Domestic | Wilshire Small-Cap Vaue | -11.74% |
| Domestic Average | -4.67% | |
| International | AEX (Netherlands) | -11.82% |
| International | All Ordinaries (Australia) | -3.80% |
| International | All-Shares (Norway) | -5.74% |
| International | ATX (Austria) | -8.12% |
| International | Bel-20 (Belgium) | -7.82% |
| International | Bombay Sensex (India) | -3.78% |
| International | BUX (Hungary) | -16.40% |
| International | CAC 40 (France) | -7.51% |
| International | Caracas General (Venezuela) | 8.02% |
| International | CASE 30 (Egypt) | -7.97% |
| International | Colombo Stock Exchange (Sri Lanka) | -9.80% |
| International | DAX (Germany) | -6.75% |
| International | DJ Americas (Americas) | -5.16% |
| International | DJ Asia-Pacific (Asia-Pacific) | -11.08% |
| International | DJ CBN China 600 (China) | 9.37% |
| International | DJ Euro Stoxx (Euro zone) | -10.07% |
| International | DJ Euro Stoxx 50 (Euro zone) | -10.51% |
| International | DJ Russia Titans 10 (Russia) | 41.52% |
| International | DJ Stoxx 50 (Europe) | -10.57% |
| International | DJ Stoxx 600 (Europe) | -9.22% |
| International | DJ World ex U.S. (World) | -8.86% |
| International | DJ World Index (World) | -7.49% |
| International | Dow Jones China 88 (China) | 6.38% |
| International | FTSE 100 (U.K.) | -8.25% |
| International | FTSE 250 (U.K.) | 0.33% |
| International | Hang Seng (Hong Kong) | -3.35% |
| International | IBEX 35 (Spain) | -10.25% |
| International | IPC All-Share (Mexico) | 1.17% |
| International | Istanbul National 100 (Turkey) | -4.45% |
| International | Jakarta Composite (Indonesia) | -1.24% |
| International | Johannesburg All Share (South Africa) | -2.63% |
| International | Kospi (South Korea) | -0.07% |
| International | KSE 100 (Pakistan) | 9.36% |
| International | Kuala Lumpur Composite (Malaysia) | -4.19% |
| International | Manila Composite (Philippines) | -2.20% |
| International | Merval (Argentina) | -0.13% |
| International | MSCI EAFE* (World) | -11.09% |
| International | Nikkei 300 (Japan) | -10.86% |
| International | Nikkei Stock Avg (Japan) | -6.16% |
| International | NZSX-50 (New Zealand) | -6.87% |
| International | OMX Copenhagen (Denmark) | -10.84% |
| International | OMX Helsinki (Finland) | -11.16% |
| International | PSI 20 (Portugal) | -4.22% |
| International | PX 50 (Czech Republic) | -13.34% |
| International | RTS Index (Russia) | 26.88% |
| International | S & P/ASX 200 (Australia) | -3.78% |
| International | S & P/MIB (Italy) | -23.41% |
| International | S & P/TSX Comp (Canada) | -2.37% |
| International | Santiago IPSA (Chile) | -1.47% |
| International | Sao Paulo Bovespa (Brazil) | 4.68% |
| International | SET (Thailand) | -1.94% |
| International | Shanghai Composite (China) | 6.76% |
| International | Straits Times (Singapore) | -8.46% |
| International | Swiss Market (Switzerland) | -11.17% |
| International | SX All Share (Sweden) | 8.08% |
| International | Tel Aviv (Israel) | -3.02% |
| International | The Global Dow (Euro) (World) | -6.95% |
| International | The Global Dow (World) | -7.11% |
| International | Weighted (Taiwan) | 15.43% |
| International | WIG (Poland) | -8.41% |
| International Average | -3.56% | |
| Grand Average | -4.10% |
Posted by OneEyedMan at March 14, 2009 7:59 AM
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