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Tuesday, November 24, 2009

Why Does Only the Dow Have an Absolute Level?

I listen to CBS News Radio when driving. Every half hour they give the financial news. Over years, I've noticed that the only stock index for which an absolute index is ever given is the Dow: "The Dow was down 25 points to 10,420. The NASDQ fell 10 points, and the S&P was down 5."

I swear, you could spend a decade listening to their reports and you could make a chart of the NASDAQ and S&P moves over that period, but you'd never know what their actual level is.

5 comments:

  1. Anonymous8:36 PM

    I'm sure they were hootin' and hollerin' when the composite crossed 5000, and surely they quoted the figure.

    I'd wager they were lathered-up enough about the naz retaking 2k this year to announce the absolute level.

    ReplyDelete
  2. Why am I considerd anonymous?

    Woodrow

    ReplyDelete
  3. Yes, I'm sure they do announce the level once in a while, anonymous.

    ReplyDelete
  4. And maybe this is part of your point, Gene, but just hearing the absolute changes is rather irrelevant, if you don't know what the level is (and if you don't want to do long division while driving in the sleet).

    ReplyDelete
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