Long Term Perspective
Yearly changes in the S&P 500 paralleled the growth in the Russell 2000 between 1995 and mid-1998. The Russell 2000 followed its own path after the Russian financial crises and the near collapse of the Long Term Credit Hedge Fund. At the end of 1999, small-cap tech stocks soared and helped propel the index. Momentum was decidedly downward through 2000, though.

Short Term Perspective
Stock prices are starting to show signs of improvement. In fact, the Russell 2000 was up 3 percent from year ago levels in November. The S&P 500 was still down from a year ago, but by a smaller amount.

S&P 500 vs. Russell 2000   •   Dow Jones Industrials vs. Nasdaq Composite

Wilshire 5000 vs. PSE Technology 100   •   Interest Rate Yield vs. Stock Market Growth