S&P 500 · January 27, 1975

January, with the bear market over

+3.27%

single-day change vs previous close

Part of a longer stretch

Six years back from the oil shock

early in it · 1974-10-03 → 1980-07-17, +94.99% over the whole period

What happened that day?

27 January 1975 — the S&P 500 rose 3.27%. No single cause for that one day could be pinned down
January that year was a run of consecutive up-days, the shape you see right after a bear market ends
The decline before it began with the Middle East oil embargo in late 1973 and ended in December 1974
The stretch of double-digit inflation had passed, and around this time the Fed began cutting rates
Prices had already been cut hard, which matters. From a level that has priced in bad news, a small improvement moves a lot
The advance ran into the summer. It is a good picture of what the other side of a bear market looks like
This was not a declining episode, so no peak-to-trough figure applies

Sources

Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is put together from the public record; where a specific source was consulted it is listed above.