S&P 500 · October 29, 1974
A month past the bottom
+3.91%
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?
- The S&P 500 rose 3.91% to close at 72.83. No single trigger for the day could be pinned down
- The low of this episode had passed earlier, on 3 October. This is a rise after the bottom
- 1974 was a year of fast-rising prices and a weakening economy — the combination where rates can be neither raised nor cut
- Near the bottom of such a year, daily ranges widen. Prices are so low that modest buying moves them a long way
- The episode fell 27.6% from the July high to the October low
- The recovery that began here ran into the following year. The inflation problem stayed for several more
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.