04 Feb 2005 Will 2005 Be As Dreary as January?
Posted at 16:51h in The Friday BriefThere’s a stock market axiom that says, as January goes, so goes the year. According to Bloomberg, since 1950, the S&P 500 has moved in the same direction during the year as it did in the first week 73% of the time. The S&P 500's drop so far this year marks its worst start since 1990, when it fell 4% in the period through Jan. 20th. The index lost 6.6% that year.