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 until the end of 2002.

Short Term Perspective
After a brief dip in September, stock prices resumed their monthly climb in October. In any case, both the S&P 500 and the Russell 2000 posted sharp gains on a year-over-year basis.

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