Fireworks display was set to start on the left part of your screen. Of were going to keep our eyes trained on both of these, because were waiting to see if they will pull this off with such a drama occurring just, as i said, across the socalled plaza in that area. The fire raced up some 20 stories, torching a landmark hotel. Clearly, more than 20 stories were engulfed. First official said nobodys injured. Now reports at least 14 are hurt, but medics on the scene are saying 60 people hurt, some are burned, some have smoke inhalation, one person has had a heart attack trying to flee the scene. Evacuations, apparently, are completed. But, again, the details are very sketchy right now. They are claiming, the officials, that its 90 under control. Its important to note that some of the video on the right part of your screen is video that was taken just about an hour or two ago. So, again, they say that its under control or nearly under control. But the cause at this hour is still unknown. Th
The closing bell. Have a great weekend, and well see you next week. And it is 4 00 on wall street. Do you know where your money is . Hi, everybody. Welcome back to the closing bell. Im Maria Bartiromo on the floor of the new york stock exchange. The major averages closing at a second straight week of gains today on wall street. Fractional moves to the upside. Take a look at how which ear settling out for a friday afternoon on wall street. The Dow Jones Industrial average up about 17. 5 points, fractional move, 13,488. Got the big banks reporting earnings next week. A little bit of buying and a handful of banks at the end of the day today. Took the market off of the lows. Nasdaq composite picks up about four points at the close, 3125. Last trade on the nasdaq. S p 500, close but no cigar on the standard poors, down just a fraction. Straight to the market action. Back with me once again Michael Pento from Pento Portfolio Strategies and dan veru from palisades capital and michael from Cap
Palisade Capital Management, based in Fort Lee, NJ, is ranked No. 69 on the 2023 CNBC Financial Advisor 100 list. The firm also appeared on last year's FA 100 list.
What s the average return for the S&P 500?
Over the past 10 years, the S&P 500 has posted annualized returns of 11.18%. In 2020, it posted a return of 15.15%.
Since the companies within the index are so diverse, and are collectively worth about 80% of all US stocks total value, these performance figures are widely seen as synonymous with the performance of the US stock market overall.
Limitations of the S&P 500
Though seen as widely representative, the S&P 500 isn t perfect.
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The S&P 500 is a weighted index, meaning companies with a higher market cap carry more clout in the calculations. As a result, the index may give disproportionate weighting to the largest companies, cautions Leyla Z. Morgillo, a certified financial planner with Madison Financial Planning Group. Those weightings can then skew the performance of the index, resulting in a handful of stocks driving the overall index performance. You wouldn t be able to tell that just by looking at the overall