ADVFN proves stock market does not like Mondays

Just like humans, stock markets are susceptible to the Monday blues claims research by stocks and investment website, ADVFN (www.advfn.com).

Average weekday returns for America's biggest indexes show that Monday is always the worst performing day of the week. Over the last 35 years, the NASDAQ Composite Index has fallen by an average of -0.12% on Monday. Similarly, over the last 35 years, the S&P 500 and the Dow Jones Industrial Average have shown returns of -0.03% and 0% respectively.

Mondays are also responsible for some of the biggest losses in stock market history. The greatest one-day percentage loss (-19.66%) on the Dow Jones Industrial Average occurred on 'Black Monday,' October 19th, 1987. In addition, during the Wall Street Crash of 1929, the Dow Jones Industrial Average fell by a record (at that time) -13% on Monday, October 28th. Monday market blues are not only a US phenomenon. In the UK, Monday is responsible for the biggest loss of any day of the week on the FTSE 100 Index, averaging (-0.27%) since its inception in 1984.

On a more positive note, the same data shows that Wednesday is always the best performing day of the week in the US. The NASDAQ Composite Index shows gains of 0.12% midweek; the S&P 500 increases by 0.08%; and the Dow Jones Industrial Average by 0.06%.

"Our research proves that, like many of us, the stock market really does not like Mondays. Many attribute this to the glut of 'bad' company news that is published over the weekend, while others believe that investors' malaise, particularly evident during the early hours of Monday trading, is the root cause," said Clem Chambers, CEO of ADVFN. "Whatever the cause once more it's proven it pays to have data at your fingertips to be up-to-date with the latest trends."