New York Times’ Floyd Norris on the 2003 market:
“So powerful was the market’s advance that many stocks – including most of those in the Standard & Poor’s index of 500 stocks, the leading barometer of large companies’ stock performance, and most in the Russell 2000, a leading indicator of the performance of smaller companies’ stocks – are now higher than they were when those indexes peaked in 2000.
For the year, the Dow Jones industrial average was up 25 percent and the S.& P. 500 gained 26 percent, while the Nasdaq composite rose 50 percent, and the Russell 2000 picked up 45 percent for the best year in its 25-year history.”
Energized by the Economy, Small Stocks Lead the Way to Big Gains
By FLOYD NORRIS
NYTimes, January 2, 2004