Thanksgiving is upon us and we have much to be grateful for this year. While it has been challenging at times it has also been rich in an abundance of things for which we can be thankful.
Talking of which, Bespoke reports that since Thanksgiving became an official federal holiday (1941), the S&P 500 Index has been up 20% or more through Thanksgiving on 16 occasions. With a year-to-date gain of 22.72%, this year is one of them and the S&P 500 is having its best year heading into Thanksgiving since 1997. The average change for the rest of the year when the S&P 500 has been up 20% or more through Thanksgiving has been 1.96%, with positive returns 10 out of 15 times, said Bespoke.
Source: Bespoke, November 25, 2009.