The S&P 500 was down slightly last month as was the NASDAQ. For each, it was the first drop since November. The DJIA rose a tiny amount which kept its multi-month rally alive. The NASDAQ’s prospects would have been worse if it were not for the success of the shares in Apple (NASDAQ: AAPL) and to a smaller extent Google (NASDAQ: GOOG). Some experts say that the presence of the two companies in the index distorts its prospects.
The improvement of the DJIA was driven by an increase in financial shares, especially JP Morgan (NYSE: JPM) and American Express (NYSE: AXP), and in tech giant Microsoft (NASDAQ: MSFT).
Douglas A. McIntyre
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