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Anybody know why sites such as Yahoo and Google Finance show S&P opening prices higher than what actually occurred? For example, on Friday the index opened (gapped) down on the jobs report, yet Yahoo shows Friday's open at 1391.51: [url]http://finance.yahoo.com/q/hp?s=%5EGSPC+Historical+Prices[/url]
Was that the true open? Obviously no one could have bought an ETF near that open price for an obvious short. Thanks.
[QUOTE=Harry;22206]Anybody know why sites such as Yahoo and Google Finance show S&P opening prices higher than what actually occurred? For example, on Friday the index opened (gapped) down on the jobs report, yet Yahoo shows Friday's open at 1391.51: [url]http://finance.yahoo.com/q/hp?s=%5EGSPC+Historical+Prices[/url]
Was that the true open? Obviously no one could have bought an ETF near that open price for an obvious short. Thanks.[/QUOTE]
At the “official” index opening price, many stocks haven’t traded yet and may have much lower bid & ask prices than their closing price. ETF’s market makers do bid & ask at the open for their instruments taking into account all bid & ask quotes of all components, even if they haven’t opened yet. Hence the ETFs do provide a much better and timely quote.
Billy
Thank you Billy! I keep learning and learning ...