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International Market Review & Outlook - March 2012 Pt. 2

Chances are some of you are reading this on an Apple iPad. Through April 12th, the world’ most valuable company had surged 653% since the market lows of March 2009, accounting for 8% of the S&P500’s climb. However, the S&P500 has almost doubled since that same time even when Apple is excluded. A look at the perfor- mance of the S&P500 Equal Weighted Index, which gives each com- pany the same contribution regardless of size, has returned 34% annualized over the same period, a full 5.8% more than the capitali- zation weighted S&P500. The conclusion: this has been a broad- based market rally based on strong profit growth. More than 57% of companies listed on the New York Stock Exchange (NYSE) were trading above their 200-day moving average, compared with 7% on October 3rd, the low point for 2011. Apple has no doubt added some excitement to the market but all market sectors have risen. Click on Global Asset Classes: Equities to read more...

 

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