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Closing milestones of the Dow Jones Industrial

Average
From Wikipedia, the free encyclopedia

This article is a summary of the closing milestones of the Dow Jones Industrial Average, a United States stock
market index. Since opening at 40.94 on May 26, 1896, the Dow Jones Industrial Average has increased
steadily, despite several periods of decline.

Contents
1 Milestone highs and lows
2 Incremental closing milestones
3 Record highs and decade lows
4 See also
5 External links

Milestone highs and lows

Like most other stock market indices, the
Dow undergoes periods of general increase
and general declines or stagnation. A bull
market is a term denoting a period of price
increases, while a bear market denotes a
period of declines. Wall Street generally
considers a bear market in session when the
main stock market index is more than 20
percent below its all-time
high.[citation needed]
There are two types of bull markets. A
secular bull market is a period in which the
stock market index is continually reaching
all-time highs with only brief periods of
correction, as during the 1990s, and can last
upwards of 15 years. A cyclical bull market
is a period in which the stock market index
is reaching 52-week or multi-year highs and
may briefly peak at all-time highs before a
rapid decline, as in the early 1970s. It
usually occurs within relatively longer bear
markets and lasts about three years.
The following are the secular bull and bear
markets experienced by the Dow since its

Linear graph of the DJIA from 1896 through March 2008

Logarithmic graph of the DJIA from 1896 through Oct 2009

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inception:
18961929: Bull market. In the summer of 1896 the Dow sheds 30% to set an all-time low of 28.48,
but quickly erases its losses, and eventually grows to a closing high of 381.17 (theoretical
(http://www.investopedia.com/terms/t/theoreticaldowjonesindex.asp) intra-day high of 386.1) on
September 3, 1929.
19291949: Bear market. The stock market crash of 1929 precedes the Great Depression. The Dow
plunges to 41.22 (theoretical intra-day low of 40.56) on July 8, 1932, thus erasing 36 years of gains.
Although cyclical bull markets occur in the 1930s and 1940s, the index would take 22 years to surpass
its previous highs.
19491966: Bull market. The Dow posts impressive growth in the booming economy following the
Second World War. Starting from about 150 in June 1949, when P/E ratios reach multi-decade lows,
the index ends just five points below 1,000 on February 9, 1966.
19671982: Bear market. Traders deal with a stagnant economy in an inflationary monetary
environment. The Dow enters two long downturns in 1970 and 1974; during the latter, it falls nearly
45% to the bottom of a 20-year range.
19822000: Bull market. The Dow experiences its most spectacular rise in history. From a meager 777
on August 12, 1982, the index grows more than 1,500% to close at 11,722.98 by January 14, 2000,
without any major reversals except for a brief but severe downturn in 1987, which includes the largest
daily percentage loss in Dow history.
2000present: Bear market. The index meanders and then plunges to a closing low of 7,286.27 on
October 9, 2002. A cyclical bull peak at 14,198, reached exactly five years later, does not surpass the
inflation-adjusted 2000 high. A renewed bear is recognized in summer 2008 and multiple volatility
records are set that autumn. Another acute phase in early 2009 brings the index to new 12 year lows
south of 6,469, for a total loss of 54% in less than 18 months.

Incremental closing milestones

The following is a list of the milestone closing levels of the Dow Jones Industrial Average, in 100-point
increments.
Milestone

Closing Level Date first achieved

The first bull market (18961929)

100

100.25

January 12, 1906

200

200.93

December 19, 1927

300

300.00

December 31, 1928

The post-World War II boom (19491966)

381.171

382.74

November 23, 1954

400

401.97

December 29, 1954

500

500.24

March 12, 1956

600

602.21

February 20, 1959

700

705.52

May 17, 1961

800

800.14

February 28, 1964

900

900.95

January 28, 1965

The 1970s bear market (19671982)

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1,0002

1,003.16

November 14, 1972

The 1980s bull market (19821987)

1,100

1,121.81

February 24, 1983

1,200

1,209.46

April 26, 1983

1,300

1,304.88

May 20, 1985

1,400

1,403.44

November 6, 1985

1,500

1,511.70

December 11, 1985

1,600

1,600.69

February 6, 1986

1,700

1,713.99

February 27, 1986

1,800

1,804.24

March 20, 1986

1,900

1,903.54

July 1, 1986

2,000

2,002.25

January 8, 1987

2,100

2,102.50

January 19, 1987

2,200

2,201.49

February 5, 1987

2,300

2,333.52

March 20, 1987

2,400

2,405.54

April 6, 1987

2,500

2,510.04

July 17, 1987

2,600

2,635.84

August 10, 1987

2,700

2,700.57

August 17, 1987

The 1990s bull acceleration (19902000)

2,800

2,810.15

January 2, 1990

2,900

2,900.97

June 1, 1990

3,000

3,004.46

April 17, 1991

3,100

3,101.52

December 27, 1991

3,200

3,201.48

January 3, 1992

3,300

3,306.13

April 14, 1992

3,400

3,413.21

June 1, 1992

3,500

3,500.03

May 19, 1993

3,600

3,604.86

August 18, 1993

3,700

3,710.77

November 16, 1993

3,800

3,803.88

January 6, 1994

3,900

3,914.48

January 21, 1994

4,000

4,003.33

February 23, 1995

4,100

4,138.67

March 24, 1995

4,200

4,201.61

April 4, 1995

4,300

4,303.98

April 24, 1995

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4,400

4,404.62

May 10, 1995

4,500

4,510.69

June 16, 1995

4,600

4,615.23

July 5, 1995

4,700

4,702.73

July 7, 1995

4,800

4,801.80

September 14, 1995

4,900

4,922.75

November 15, 1995

5,000

5,023.55

November 21, 1995

5,100

5,105.56

November 29, 1995

5,200

5,216.47

December 13, 1995

5,300

5,304.98

January 29, 1996

5,400

5,405.06

February 1, 1996

5,500

5,539.45

February 8, 1996

5,600

5,600.15

February 12, 1996

5,700

5,748.82

May 20, 1996

5,800

5,838.52

September 13, 1996

5,900

5,904.90

October 1, 1996

6,000

6,010.00

October 14, 1996

6,100

6,177.71

November 6, 1996

6,200

6,206.04

November 7, 1996

6,300

6,313.00

November 14, 1996

6,400

6,430.02

November 20, 1996

6,500

6,547.79

November 25, 1996

6,600

6,600.66

January 7, 1997

6,700

6,703.09

January 10, 1997

6,800

6,833.10

January 17, 1997

6,900

6,961.63

February 12, 1997

7,000

7,022.44

February 13, 1997

7,100 & 7,200

7,214.49

May 5, 1997

7,300

7,333.55

May 15, 1997

7,400

7,435.78

June 6, 1997

7,500

7,539.27

June 10, 1997

7,600 & 7,700

7,711.47

June 12, 1997

7,800

7,895.81

July 3, 1997

7,900

7,962.31

July 8, 1997

8,000

8,038.88

July 16, 1997

8,100

8,116.93

July 24, 1997

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8,200

8,254.89

July 30, 1997

8,300

8,314.55

February 11, 1998

8,400

8,451.06

February 18, 1998

8,500

8,545.72

February 27, 1998

8,600

8,643.12

March 10, 1998

8,700

8,718.85

March 16, 1998

8,800

8,803.05

March 19, 1998

8,900

8,906.43

March 20, 1998

9,000

9,033.23

April 6, 1998

9,100

9,110.02

April 14, 1998

9,200

9,211.84

May 13, 1998

9,300

9,328.19

July 16, 1998

9,400 & 9,500

9,544.87

January 6, 1999

9,600

9,643.37

January 8, 1999

9,700

9,736.08

March 8, 1999

9,800

9,897.44

March 11, 1999

9,900

9,958.77

March 15, 1999

10,000

10,006.78

March 29, 1999

10,100

10,197.70

April 8, 1999

10,200 & 10,300 10,339.51

April 12, 1999

10,400

10,411.66

April 14, 1999

10,500

10,581.42

April 21, 1999

10,600 & 10,700 10,727.18

April 22, 1999

10,800

April 27, 1999

10,831.71

10,900 & 11,000 11,014.70

May 3, 1999

11,100

11,107.19

May 13, 1999

11,200

11,200.98

July 12, 1999

11,300

11,326.04

August 25, 1999

11,400

11,405.76

December 23, 1999

11,500

11,522.56

January 7, 2000

11,600 & 11,700 11,722.98

January 14, 2000

The mid-2000s cyclical bull (20032007)

11,722.98

11,727.34

October 3, 2006

11,800

11,850.61

October 4, 2006

11,900

11,947.70

October 12, 2006

12,000

12,011.73

October 19, 2006

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12,100

12,116.91

October 23, 2006

12,200

12,218.01

November 14, 2006

12,300

12,305.82

November 16, 2006

12,400

12,416.76

December 14, 2006

12,500

12,510.57

December 27, 2006

12,600

12,621.77

January 24, 2007

12,700

12,741.86

February 14, 2007

12,800

12,803.84

April 18, 2007

12,900

12,961.98

April 20, 2007

13,000

13,089.89

April 25, 2007

13,100

13,105.50

April 26, 2007

13,200

13,211.88

May 2, 2007

13,300

13,312.97

May 7, 2007

13,400

13,487.53

May 16, 2007

13,500

13,556.53

May 18, 2007

13,600

13,633.08

May 30, 2007

13,700 & 13,800 13,861.73

July 12, 2007

13,900

13,907.25

July 13, 2007

14,000

14,000.41

July 19, 2007

14,100

14,164.53

October 9, 2007

This was the Dow's close at the peak of the 1929 bull market, a level that the Dow would not see again for 25 years.

The Dow first exceeded 1000 during the trading day on January 18, 1966, but dropped back before closing that day. It would be nearly
7 years later before it closed above 1000 for the first time.

Record highs and decade lows

Closing:

14,164.53 Tuesday, October 9, 2007

Intra-day Actual:

14,198.10 Thursday, October 11, 2007 6,469 Friday, March 6, 2009

6,547 Monday, March 9, 2009

Intra-day Theoretical: 14,279.96 Thursday, October 11, 2007 6,443 Friday, March 6, 2009

See also
List of largest daily changes in the Dow Jones Industrial Average
Stock market bubble
Stock market crash

External links

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Dow Jones Industrial Average Closing Milestones (http://www.finfacts.ie/Private/curency/djones.htm)

Century of the Dow (http://www.zealllc.com/2001/century.htm)
Yahoo: Theoretical DJIA since 1928 (http://finance.yahoo.com/charts#chart2:symbol=^dji;range=my;
indicator=volume;charttype=candlestick;crosshair=on;logscale=on;source=)
MarketWatch: Recent DJIA (http://www.marketwatch.com/tools/quotes
/quotes.asp?symb=INDU&sid=)
Theoretical Dow Jones Index (http://www.investopedia.com/terms/t/theoreticaldowjonesindex.asp)
DJIA on Google Finance (http://finance.google.com/finance?client=ig&q=DJI)
DJIA on CNN Money (http://money.cnn.com/data/markets/dow/?)
Dow Jones Utilities Average - DJUA (http://www.djua.net/)
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