Autumn is an excellent time for both harvest and new records. The statistics is a precise science using figures to express everything, cherishing the history and rewarding the winners. This time, the attention of financial community was focused on the new achievement of American stock index S&P 500. The index rate has exceeded the historical minimum again and broke through the landmark 2000 level. This day S&P 500 index at first rose to 1999.69, that is 0.6% higher than the level of the previous closing, and a bit later increased to 2000.24, the all-time record. The S&P 500 index was not the only one to grow, another basic American stock index - Dow Jones Industrial Average – although didn't break a record, climbed 0.6% and reached 17098.96. Analysts watch steady three-month index increase and point out that the preceding historical maximum was achieved three months before the new record. Such rapid growth was caused by the decision of the Federal Reserve System officials to preserve the interest rate at the record low level. Just after the publication, the index jumped to 1992.37 and hit the 1900 level, reached in May. "The rise in the S&P 500 is a virtual twin to the rise in the total U.S. stock market, so of course investors, and especially index fund investors, who received their fair share of those returns, feel wealthier," said John Bogle, Vanguard's founder. It should be noted that S&P 500 is comprised of quotes of the 500 largest American corporations, trading at New York Stock Exchange (NYSE) and NASDAQ. Each company's share in the index is at ratio of its capitalization. The S&P 500 index is the major landmark for pension funds, hedge funds, and other large financial institutions. Meanwhile, Dow Jones index, formed by 30 companies quotes, is up 161% and NASDAQ increased 260% over the last five years.
