Southeastern Michigan Stock Index
The weekly Southeastern Michigan (SE MI) Stock Index is composed of 31 publicly traded corporations headquartered in metro Detroit. It is a barometer for how metro Detroit public companies are performing. The SE MI Stock Index is compared with the S&P 500 stock index to assess local company performance against a national stock index. Below is a chart of the SE MI Stock Index vs the S&P 500 index, and a table displaying the returns in both stock indexes.
The local stock index is below the S&P 500 over the last year reflecting the lack of technology companies in metro Detroit. Technology companies have led the gains in the S&P 500. The down volatility in the stock market recently was more pronounced in the S&P 500 than locally again due to the prevalence of technology companies in the S&P. Technology companies experienced substantial declines recently.
The SE MI Stock Index also serves as a leading economic indicator of the metro Detroit economy. Leading indicators usually change before the economy as a whole changes. Stock market returns usually begin to decline before the economy as a whole declines and usually start to improve before the general economy begins to recover from a slump.
Below the SE MI Stock Index is a drop down menu to track each individual stock performance against the Index. Also included is a table displaying change in the individual stock, the Index, and the S&P 500 benchmark index.
Bookmark this page and return often to stay current on how local company stocks and the local economy are faring.
Jonathan Silberman, PhD
Joesph Jablonski, Research Assistant