S&P 500 in 1988

The S&P 500 rose 12.4% in 1988, from 247.08 at the end of 1987 to 277.72. Its highest close was 283.66 on Oct 21, and its lowest 242.63 on Jan 20. The biggest one-day fall was −6.8% on Jan 8 and the biggest rise +3.6% on Jan 4. Adjusted for inflation, it gained 7.6%.

Change in 1988

+12.4%

247.08 → 277.72

High

283.66

Oct 21

Low

242.63

Jan 20

After inflation

+7.6%

US CPI

Up days

138 of 253

longest run 7 up, 5 down

Below record

-17.5%

at the end of 1988

S&P 500, daily closes 1988

Numbers mark the events below

Key Events in 1988

What happened, and how the S&P 500 moved — on the day (or the next trading day) and about a month later.

1
Monday, January 4 From the data

Biggest one-day rise of the year: +3.6%.
2
Friday, January 8

Reagan receives the Brady Task Force report on the 1987 crash. Source

S&P 500: −6.8% that day · −3.9% a month later
3
Tuesday, November 8

George H. W. Bush is elected US president. Source

S&P 500: +0.4% that day · +1.5% a month later

Biggest days of 1988

Best days		Worst days
Jan 4	+3.6%	Jan 8	−6.8%
May 31	+3.4%	Apr 14	−4.4%
Apr 6	+2.7%	Jan 20	−2.7%
Jan 15	+2.5%	Nov 11	−2.1%
Jun 8	+2.4%	Mar 24	−2.1%

Volatility: 17.1% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	257.07	+4.0%	261.07	242.63
Feb	267.82	+4.2%	267.82	249.10
Mar	258.89	−3.3%	271.22	258.06
Apr	261.33	+0.9%	271.58	256.09
May	262.16	+0.3%	263.00	250.83
Jun	273.50	+4.3%	275.66	265.17
Jul	272.02	−0.5%	275.81	262.50
Aug	261.52	−3.9%	272.98	256.98
Sep	271.91	+4.0%	272.59	258.35
Oct	278.97	+2.6%	283.66	270.62
Nov	273.70	−1.9%	279.20	263.82
Dec	277.72	+1.5%	279.40	271.81

Other Markets in 1988

Change over the calendar year.

Market	Change	Year-end
S&P 500	+12.4%	277.72
Dow Jones Industrial Average in 1988	+11.8%	2,168.57
Nasdaq Composite in 1988	+15.4%	381.40
Russell 2000 in 1988	+22.4%	147.37
Nikkei 225 in 1988	+39.9%	30,159.00
Gold in 1988	−15.3%	$410.25
Silver in 1988	−9.7%	$6.05
WTI crude oil in 1988	+2.3%	$17.12
Brent crude oil in 1988	−7.8%	$16.23
US 10-year Treasury yield in 1988	+0.31 pp	9.14%

1980 1981 1982 1983 1984 1985 1986 1987 1988 1989

S&P 500 in 1988: FAQ

How much did the S&P 500 rise in 1988?

What were the highest and lowest closes of the S&P 500 in 1988?

Highest: 283.66 on October 21, 1988. Lowest: 242.63 on January 20, 1988. It closed higher on 138 of 253 trading days.

What happened to the S&P 500 on January 8, 1988?

Reagan receives the Brady Task Force report on the 1987 crash. The S&P 500 fell 6.8% that day, and was −3.9% a month later.

Data: Daily closes since 1950 (price index, excluding dividends). Price index: dividends are not included. Inflation: US CPI-U. Events marked "From the data" are found automatically from the closing prices; the others are researched, with the source linked. Not investment advice.