In parentheses, when helpful, we provide the Dow’s points as inflation-adjusted to Feb. 23, 2024, for a relative comparison to its record highs. Journalist Charles Dow and his business partner, Edward Jones, established the Dow Jones Industrial Average in 1896 with 12 companies in the industrial sector. The number of companies included in the index increased to 20 in 1916 and then to the current number, 30, in 1928. Since then, the Dow has remained among the most frequently discussed and commonly tracked equities indexes. GE shares were up 7% in recent trading They had risen almost 40% entering Thursday since the separation from GE Vernova (GEV) last April. The manufacturer of airplane engines and other parts reported net income of $1.9 billion, or $1.75 bitfinex review per share, on $10.81 billion in revenue.
Dow Jones Industrial Average
14This was the Dow’s close at the peak on January 14, 2000, before the dot-com crash. After reaching an intra-day low of 40.56 on July 8, 1932, the Dow started to recover with a major setback at the start of World War II. The Dow fell 17% in three months, from 2,864.60 on Aug. 2 to 2,365.10 on Oct. 11, 1990. On Monday, Sept. 15, 2008, Lehman Brothers Holding, Inc. (an investment bank) declared bankruptcy. On Wednesday, panicky bankers withdrew $144 billion from money market funds, almost causing a collapse.
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The new highs reflected optimism that the Federal Reserve would continue to cut interest rates and that the incoming administration would promote business growth. The largest single-day drop, percentage-wise, that the Dow has had occurred when the market crashed on Oct. 19, 1987, Black Monday. However, in points, the Dow’s worst day was March 16, 2020, when it fell 2,997.1 points in reaction to the pandemic-era adoption of lockdowns throughout the U.S. and the Federal Reserve slashing interest rates to near zero. The longest bull market in history lasted about 11 years, starting in March 2009 and ending in February 2020. Shares of GE Aerospace (GE) surged in premarket trading Thursday after the company reported fourth-quarter results far above analysts’ estimates. Arm shares broke out from a six-month symmetrical triangle this week, potentially paving the way for further upside.
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Between Jan. 7, 2022, and Sept. 30, 2022, the Dow Best gold stock declined about 21% from 36,231.66 to 28,725.51.
A November streak occurred after Donald Trump’s presidential win on Nov. 8. Traders were confident in a business-friendly Republican president. This high occurred only 42 trading sessions after closing above 19,000. That is the second-fastest rise in U.S. history (currently, the record is 24 sessions to go from 10,000 to 21,000 in 1999).
Major Indexes on Track for 2nd Straight Week of Gains
- Uncertainty had been hanging over the markets because of the unprecedented refusal of the outgoing president, Donald Trump, to concede the election to President-elect Biden.
- While you can’t directly buy shares in the market index, you can invest in the DJIA through index funds and exchange-traded funds (ETFs) such as the SPDR Dow Jones Industrial Average ETF Trust (DIA).
- Weak retail sales data come off the heels of a busy week that saw hotter-than-expected inflation reports and President Donald Trump just stopping short of imposing reciprocal tariffs.
- The S&P 500 and Nasdaq rebounded 1.1% and 1.3% on Friday, respectively, after both indexes posted their worst trading days since late April.
- It’s a noteworthy turnaround for the major indexes, which were each riding two-week losing streaks before last week.
- The average closed at 2,999.75 on Monday, July 16, 1990, and closed unchanged the following day;17 however, it would take until April 17 of the next year for the Dow to finally close above 3,000.
