Chart of the Day: S&P500 following Gasoline Price Surges
Posted By Barry Ritholtz On September 3, 2005 @ 6:55 am In Commodities,Economy,Markets | Comments Disabled
Chart of the Day looks at how the stock market has responded to significant increases in gasoline prices over the past 25 years.
S&P500 following Gasoline Price Surges
[1]
[2]
Source: Chart of the Day [3]
Its apparent the stock market struggles following a
year-over-year increase of more than 15%. Gasoline has increased well
over 15% over the past 12 months and has the potential of negatively
impacting consumer spending. For example, a recent California poll
shows that 40% have cut back on spending as a result of high gasoline
prices.
This is consistent with an Opinion Research Corporation [4] survey cited by ICSC.org [5].
It showed that 58% of households are reducing their discretionary
spending on clothing, shoes, jewelry and consumer electronics, as well
as restaurants, spa and beauty services, and other nonessential
purchases.
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2005/09/chart-of-the-day-sp500-following-gasoline-price-surges/
URLs in this post:
[1] Image: http://bigpicture.typepad.com/photos/uncategorized/20050902.gif
[2] Image: http://bigpicture.typepad.com/photos/uncategorized/20050902b.gif
[3] Chart of the Day: http://www.chartoftheday.com/20050902.htm?t
[4] Opinion Research Corporation: http://opinionresearch.com/default.aspx
[5] cited by ICSC.org: http://www.icsc.org/srch/apps/newsdsp.php?storyid=1963®ion=main
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