The Stock Market Has Been Dead Flat Since January 1

Every once in a while I like to adjust the S&P 500 for inflation just to see what it looks like. It’s something that more people ought to do regularly, since it’s the only way to properly represent a time series of money values. Anyway, I did it today because the stock market is in the news, and here’s what it looks like:

Adjusted for inflation, the S&P 500 is at precisely the same value as the first day of January. It has increased 0 percent.

I just thought that was interesting enough to make a chart of it and show it to everyone. As always, this might mean the market has peaked and is getting ready to turn bearish for a while. Or it might mean that equities are now a relative bargain and the next year could be a strong one. I don’t know! If I did, I’d be a billionaire and I wouldn’t be writing this blog.

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And right now, a longtime friend of Mother Jones has pledged an incredibly generous gift to inspire—and double—giving from online readers. That's huge! Because you can see that our fall fundraising drive is well behind the $325,000 we need to raise. So if you agree that in-depth, fiercely independent journalism matters right now, please support our work and help us raise the money it takes to keep Mother Jones charging hard. Your gift, and all online donations up $94,000 total, will be matched and go twice as far—but only until the November 9 deadline.

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