The tech companies in the Dow — Apple, Microsoft, Cisco Systems, International Business Machines, Intel, and Salesforce — are all proven businesses and leaders in their fields. 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. “40,000 is a great milestone, but end of the day there isn’t much difference between 39,999 and 40k,” Ryan Detrick, chief market strategist at Carson Group, said in a statement emailed Thursday.
At Friday’s recent price around $144, down from Thursday’s record intraday high of $158.49, Tencent’s stake is worth around $1.1 billion. The stock gained nearly 80% this week and is now back into positive territory for the year, after losing ground for several months amid accounting concerns. The Dow’s activity broke new records in terms of downward movement in 2009. While it wasn’t as dramatic as the Great Depression, the drop happened much more quickly. After recovering from its Great Depression level, the Dow continued to be affected by several recessionary periods and crises leading up to the 2009 downturn. The index had three nine-day runs, last occurring in 1955 (when there were four nine-day stretches).
A Brief History of the Dow
The domestically focused small-cap Russell 2000 index rose 1.8% and outperformed large-cap indexes. The Dow tracks 30 large, publicly owned blue-chip companies trading on the New York Stock Exchange and the Nasdaq. The selection is not based on strict quantitative criteria but rather on the decisions of the editors of The Wall Street Journal. Companies are chosen based on their reputation, growth, and relevance to the economy, with the aim of reflecting the overall health and trends of the industrial sector of the U.S. economy. Since the Great Depression, 2007 to 2008 has been the most dramatic period for the DJIA. The market fell more than 50% in just a year and The Barefoot Investor a half because of subprime mortgage and credit crisis that kicked off the Great Recession.
Previously, the Dow had fallen from 11,723 in January 2000 to 9,389 in March 2001, dropping 20% (from 20,520 to 16,434 points, inflation-adjusted). The bout of inflation that followed the COVID-19 pandemic led to another sharp sell-off in 2022. Between Jan. 7, 2022, and Sept. 30, 2022, the Dow declined from 36,231.66 to 28,725.51.
Investors should track key overhead price levels on Gap’s chart around $27, $36, and $52, while monitoring a crucial support area near $20. Investors should watch key overhead levels on Elastic’s chart around $118 and $133, while also keeping an eye on major support levels near $94 and $82. „Separately, Advance is buying derivatives on the shares, which will allow it to maintain its ownership Cryptocurrency Exchanges stake while enabling it to create the credit facility,” the report said.
Slow-growing Dow companies like Procter & Gamble, McDonald’s, and Walmart aren’t going to wow you with their growth. But they will hold up extremely well during an economic downturn while supporting reliable dividend growth. Like the Swiss Market Index (SMI), the Dow Jones is a price index. The shares included in it are weighted according to price; the index level represents the average of the shares included in it.
What Is the Dow Jones Industrial Average (DJIA) All-Time High?
The company now anticipates fiscal 2024 sales to grow between 1.5% and 2% compared to its earlier guidance axi review of “up slightly,” as the retailer continues to make progress executing a turnaround plan under CEO Richard Dickson. Looking ahead, Intuit said it expects second-quarter revenue revenue of $3.81 billion to $3.85 billion, below the analyst consensus. The company projected earnings per share (EPS) of 84 cents to 90 cents, also short of Wall Street estimates. For the full-year, the company maintained its full-year EPS forecast of $12.34 to $12.54. The company reported $488.8 million in profits for the third quarter on $5.07 billion in sales.
The Dow just hit 40,000. Here’s a look at how it got here.
- The Dow suffered a market correction between August 2015 and April 19, 2016, leading to a 2016 downturn.
- Of the 26 records set that year, 17 occurred after the presidential election.
- Meanwhile, the major European markets all moved to the upside on the day.
- The DJIA was designed to serve as a proxy for the health of the broader U.S. economy.
Japan’s Nikkei 225 Index climbed by 0.7 percent, while Hong Kong’s Hang Seng Index slumped by 1.9 percent and China’s Shanghai Composite Index plunged by 3.1 percent. Among individual stocks, shares of Gap (GAP) surged after the apparel retailer reported better than expected third quarter earnings and raised its full-year guidance. With the continued upward move, the major averages posted strong gains for the week, partly offsetting the sharp pullback seen last week. The DJIA launched in 1896 with just 12 companies, primarily in the industrial sector. Since then, it’s changed many times—the very first came three months after the 30-component index launched. The first large-scale change was in 1932 when eight stocks in the Dow were replaced.
Then, in the last few months of 2023, investors began piling back in as hopes grew that interest rates would soon be cut and a nasty recession averted. The Dow Jones Industrial Average, also known as the Dow or DJIA, tracks 30 large, well-known companies that trade on the New York Stock Exchange and Nasdaq. The Dow’s all-time high at market close stands at 39,908.00, reached on May 15, 2024. The index hit its highest price at any time on May 16, 2024, when it surpassed 40,000 for the first time.
The index reached a new all-time high on May 16, 2024, surpassing 40,000 for the first time. The following are some milestones achieved by the Dow Jones Industrial Average. In parentheses, when helpful, we provide the Dow’s points as inflation-adjusted to Feb. 23, 2024, for a relative comparing to its record high.
