Closing milestones of the Dow Jones Industrial Average

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Lua error in package.lua at line 80: module 'strict' not found. This article is a summary of the closing milestones of the Dow Jones Industrial Average, a United States stock market index. Since first closing at 62.76 on February 16, 1885,[1] the Dow Jones Industrial Average has increased, despite several periods of decline.

Milestone highs and lows

File:DJIA historical graph.svg
Linear graph of the DJIA from 1896 through April 2008
Logarithmic graph of the DJIA from 1896 through July 2011

Like most other stock market indexes, 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 multiple broad market indexes have a downturn of 20% or more in value lasting for at least 2 months.[2]

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 inception:

  • 1885–1890: Bull market. From its first close of 62.76 on February 16, 1885, the Dow rises steadily for five years, until reaching a peak of 78.38 on June 4, 1890. This record would stand for nearly 15 years, until the Dow closed at 79.27 on March 24, 1905.[3]
  • 1890–1896: Bear market. The Dow plunges over 63% over the next six years, to set an all-time low of 28.48, on August 8, 1896.[4]
  • 1896–1906: Bull market. After setting an all-time low during the summer of 1896, the Dow quickly erases these losses, and eventually reaches a peak of 103.00 on January 19, 1906.
  • 1906–1915: Bear market. The Dow loses 48.5% of its value over the next 22 months, before reaching a low of 53 on November 15, 1907. From 1906 to 1915, the Dow remains stuck trading between 53 and 103. The index reaches a secondary low of 53.17 on December 24, 1914.
  • 1915–1919: Bull market. After hitting a seven-year low in late 1914, the Dow rises 125% over the next five years, reaching a new high of 119.62 on November 3, 1919.[5]
  • 1919–1921: Bear market. The Dow loses 46.6% of its value in just over 21 months, before reaching a low of 63.90 on August 24, 1921.[6]
  • 1921–1929: Bull market. Over the next eight years, the Dow increases nearly 500%, and eventually grows to a closing high of 381.17 (theoretical intra-day high of 386.10) on September 3, 1929.
  • 1929–1949: 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 33 years of gains, in just under three years. Although cyclical bull markets occur in the 1930s and 1940s, the index takes 22 years to surpass its previous highs.
  • 1949–1966: Bull market. The Dow posts impressive growth in the booming economy following the Second World War. Starting from 161.60[7] in June 1949, when P/E ratios reach multi-decade lows, the index ends just five points below 1,000 on February 9, 1966. The inflation-adjusted high set on December 31, 1965[8] would not be surpassed for nearly 30 years, until the Dow's first close above 4,700 on July 7, 1995.[9]
  • 1966–1982: 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.
  • 1982–2000: 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.
  • 2000–2003: Bear market. The index meanders, and then plunges nearly 40%, to a closing low of 7,286.27 on October 9, 2002.
  • 2003–2007: Bull market. A cyclical bull closing peak of 14,164.53, reached exactly five years later, does not surpass the inflation-adjusted high set on December 31, 1999.[10][11]
  • 2007–2009: Bear market. 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 12½ year closing low of 6,547.05, on March 9, 2009, for a total loss of 54% in 17 months.
  • 2009–2015: Bull market. The Dow remains volatile during its ensuing climb, losing almost 20% during the summers of 2010 and 2011, however, by February 1, 2013, the index finally closes above 14,000 for the first time since October 2007.[12] The Dow continues upward to surpass its prior all-time record on March 5, 2013 and, by the end of 2013, sets a new all-time inflation-adjusted high for the first time since the end of 1999.[13] However, some minor, but significant, declines (in the form of corrections) have occurred in 2014 and leading up to the summer of 2015.[14]
  • 2015-present: Bear market. Since the severe plunge near the end of August 2015, the Dow attempted to gain a full recovery, but ultimately failed, thus creating an entry into a new bear market.[15][16]

Incremental closing milestones

The following is a list of the milestone closing levels of the Dow Jones Industrial Average. 1-point increments are used up to the 50-point level; 5 to 100; 10 to 500; 20 to 1,000; 50 to 2,000; 100 to 10,000; and 200-point increments thereafter. Additional milestones may be used if necessary.

The Late 19th Century Bull Market (1885–1890)

Milestone Closing Level Date first achieved
62.761 62.76 February 16, 1885
65
70
75

The Century Turnover Bull Market (1896–1906)

Milestone Closing Level Date first achieved
78.382 79.27 March 24, 1905
80 80.02 March 31, 1905
85 85.22 November 20, 1905
90 90.82 December 5, 1905
95 95.13 December 12, 1905
100 100.25 January 12, 1906

The 1910s Bull Market (1916)

Milestone Closing Level Date first achieved
103.003 103.11 September 28, 1916
110 110.13 November 18, 1916

The 1920s Bull Market (1924–1929)

Milestone Closing Level Date first achieved
119.624 120.51 December 31, 1924
120
130 130.42 June 2, 1925
140 140.20 August 15, 1925
150 150.29 October 20, 1925
160 160.53 February 4, 1926
170 170.29 May 19, 1927
180 180.09 July 27, 1927
190 190.00 August 29, 1927
200 200.93 December 19, 1927
210 210.36 March 26, 1928
220 220.09 May 8, 1928
230 233.68 August 24, 1928
240 240.41 August 31, 1928
250 250.87 October 17, 1928
260 260.68 November 7, 1928
270 276.66 November 16, 1928
280 283.90 November 20, 1928
290 290.34 November 22, 1928
300 300.00 December 31, 1928
310 310.33 January 23, 1929
320 322.06 February 5, 1929
330 331.65 June 28, 1929
340 340.28 July 2, 1929
350 350.56 August 1, 1929
360 361.49 August 16, 1929
370 374.61 August 23, 1929
380 380.33 August 30, 1929

Do-Over of the Milestones (1929-1954)

During the Great Depression (1929-1937)

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.

Milestone Closing Level Date Achieved Again
41 41.22 July 8, 1932
42 42.99 July 11, 1932
43 44.88 July 13, 1932
44
45 45.47 July 15, 1932
46 46.50 July 21, 1932
47 47.69 July 22, 1932
48 49.78 July 25, 1932
49
50 51.34 July 27, 1932
55 58.22 August 3, 1932
60 62.60 August 5, 1932
65 67.71 August 8, 1932
70 70.87 August 22, 1932
75 75.22 August 29, 1932
80 80.78 May 10, 1933
85 86.42 May 26, 1933
90 90.02 May 29, 1933
95 96.75 June 12, 1933
100 103.77 July 3, 1933
110 110.74 February 5, 1934
120 120.04 June 24, 1935
130 130.75 September 6, 1935
140 140.68 October 25, 1935
150 150.94 February 4, 1936
160 160.43 April 2, 1936
170 170.76 October 2, 1936
180 180.66 November 4, 1936
190 190.29 February 11, 1937
The Post-World War II Years (1945-1954)

After the end of the second World War, the Dow started another recovery that ultimately led to the all-time closing high set back in 1929.

Milestone Closing Level Date Achieved Again
194.146 195.64 December 10, 1945
200 200.04 January 11, 1946
210 211.70 May 28, 1946
220 220.60 May 17, 1950
230 231.15 October 4, 1950
240 240.86 January 4, 1951
250 250.76 February 1, 1951
260 260.71 May 1, 1951
270 270.25 August 31, 1951
280 280.29 August 11, 1952
290 292.00 December 30, 1952
300 300.83 March 11, 1954
310 311.76 April 14, 1954
320 320.41 May 6, 1954
330 330.72 June 23, 1954
340 341.12 July 6, 1954
350 350.38 August 20, 1954
360 361.67 September 24, 1954
370 371.07 November 9, 1954

The Post-World War II Boom Market (1954–1966)

Milestone Closing Level Date first achieved
380 382.74 November 23, 1954
381.175
390 392.48 December 6, 1954
400 401.97 December 29, 1954
410 410.32 February 9, 1955
420 420.94 April 12, 1955
430 430.64 April 26, 1955
440 440.17 June 13, 1955
450 451.38 June 30, 1955
460 467.41 July 6, 1955
470 472.53 September 2, 1955
480 480.93 September 13, 1955
490 491.68 March 5, 1956
500 500.24 March 12, 1956
520 521.05 April 6, 1956
540 543.36 October 10, 1958
560 561.13 November 11, 1958
580 581.80 December 30, 1958
600 602.21 February 20, 1959
620 624.06 April 17, 1959
640 643.79 May 29, 1959
660 660.09 July 6, 1959
680 685.47 January 5, 1960
700 705.52 May 17, 1961
720 720.69 August 4, 1961
740 740.34 September 11, 1963
760 760.50 October 29, 1963
780 781.31 January 22, 1964
800 800.14 February 28, 1964
820 820.25 March 18, 1964
840 841.47 July 2, 1964
860 867.13 September 11, 1964
880 881.50 October 20, 1964
900 900.95 January 28, 1965
920 922.31 April 30, 1965
940 942.65 October 11, 1965
960 960.82 October 29, 1965
980 981.62 January 5, 1966

The 1970s Bear Market (1972–1973)

Milestone Closing Level Date first achieved
995.157 995.26 November 10, 1972
1,0008 1,003.16 November 14, 1972
1,050 1,051.70 January 11, 1973

The 1980s Bull Market (1982–1987)

Milestone Closing Level Date first achieved
1,051.709 1,065.49 November 3, 1982
1,100 1,121.81 February 24, 1983
1,150 1,156.64 April 13, 1983
1,200 1,209.46 April 26, 1983
1,250 1,257.52 September 22, 1983
1,300 1,304.88 May 20, 1985
1,350 1,357.97 July 17, 1985
1,400 1,403.44 November 6, 1985
1,450 1,462.27 November 21, 1985
1,500 1,511.70 December 11, 1985
1,550 1,553.10 December 16, 1985
1,600 1,600.69 February 6, 1986
1,650 1,664.45 February 14, 1986
1,700 1,713.99 February 27, 1986
1,750 1,753.71 March 13, 1986
1,800 1,804.24 March 20, 1986
1,850 1,855.03 April 17, 1986
1,900 1,903.54 July 1, 1986
1,950 1,955.97 December 2, 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 (1989–2000)

Milestone Closing Level Date first achieved
2,722.4210 2,734.64 August 24, 1989
2,800 2,810.15 January 2, 1990
2,900 2,900.97 June 1, 1990
3,00011 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 17, 1993
3,800 3,803.88 January 6, 1994
3,900 3,914.48 January 21, 1994
4,00012 4,003.33 February 23, 1995
4,100 4,138.66 March 24, 1995
4,200 4,201.61 April 4, 1995
4,300 4,303.98 April 24, 1995
4,400 4,404.62 May 10, 1995
4,500 4,510.79 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, 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 6,703.79 January 10, 1997
6,800 6,833.10 January 17, 1997
7,000 7,022.43 February 13, 1997
7,100 7,213.68 May 5, 1997
7,200
7,300 7,333.50 May 15, 1997
7,400 7,435.80 June 6, 1997
7,500 7,539.27 June 10, 1997
7,600 7,711.50 June 12, 1997
7,700
7,800 7,895.80 July 3, 1997
7,900 7,962.30 July 8, 1997
8,000 8,038.88 July 16, 1997
8,100 8,116.90 July 24, 1997
8,200 8,254.90 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 9,033.22 April 6, 1998
9,100 9,110.20 April 14, 1998
9,200 9,211.84 May 3, 1998
9,300 9,328.18 July 16, 1998
9,400 9,544.97 January 6, 1999
9,500
9,600 9,643.32 January 8, 1999
9,700 9,736.08 March 5, 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
10,200 10,339.51 April 12, 1999
10,400 10,411.66 April 14, 1999
10,600 10,727.18 April 22, 1999
10,800 10,837.71 April 27, 1999
11,000 11,014.69 May 3, 1999
11,200 11,200.98 July 12, 1999
11,400 11,405.76 December 23, 1999
11,600 11,722.98 January 14, 2000

The 2000s Cyclical Bull Market (2006–2007)

Milestone Closing Level Date first achieved
11,722.9813 11,727.34 October 3, 2006
11,800 11,850.61 October 4, 2006
12,000 12,011.73 October 19, 2006
12,200 12,218.01 November 14, 2006
12,400 12,416.76 December 14, 2006
12,600 12,621.77 January 24, 2007
12,800 12,803.84 April 18, 2007
13,000 13,089.89 April 25, 2007
13,200 13,211.88 May 2, 2007
13,400 13,487.53 May 16, 2007
13,600 13,633.08 May 30, 2007
13,800 13,861.73 July 12, 2007
14,000 14,000.41 July 19, 2007

The early 2010s Bull Market (2013–2015)

Milestone Closing Level Date first achieved
14,164.5314 14,253.77 March 5, 2013
14,200
14,400 14,447.29 March 11, 2013
14,600 14,662.01 April 2, 2013
14,800 14,802.24 April 10, 2013
15,000 15,056.20 May 7, 2013
15,200 15,215.25 May 14, 2013
15,400 15,409.39 May 28, 2013
15,600 15,628.02 August 1, 2013
15,800 15,821.63 November 13, 2013
16,000 16,009.99 November 21, 2013
16,200 16,221.14 December 20, 2013
16,400 16,479.88 December 26, 2013
16,600 16,695.47 May 12, 2014
16,800 16,836.11 June 5, 2014
17,000 17,068.26 July 3, 2014
17,200 17,265.99 September 18, 2014
17,400 17,484.53 November 5, 2014
17,600 17,613.74 November 10, 2014
17,800 17,810.06 November 21, 2014
18,000 18,024.17 December 23, 2014
18,200 18,209.19 February 24, 2015

Notes

1This was the Dow's very first close on February 16, 1885.
2This was the Dow's close at the peak on June 4, 1890.
3This was the Dow's close at the peak on January 19, 1906.
4This was the Dow's close at the peak on November 3, 1919.
5This was the Dow's close at the peak of the 1920s bull market on Tuesday, September 3, 1929. This level would not be seen again until Tuesday, November 23, 1954, more than 25 years later.
6This was the Dow's close at the peak of March 5, 1937.
7This was the Dow's close at the peak on February 9, 1966.
8The Dow first exceeded 1,000 during the trading day on Tuesday, January 18, 1966, but dropped back before closing that day. It would take almost seven years before it finally closed above 1,000 for the first time on Tuesday, November 14, 1972.
9This was the Dow's close at the peak on January 11, 1973.
10This was the Dow's close at the peak of August 25, 1987.
11The Dow reached an intraday high above 3,000 for the first time on Friday, July 13, 1990, before falling back below by the close. 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.
12The Dow first exceeded 4,000 during the trading day on Monday, January 31, 1994, but dropped back before closing that day. It would take just over another year before it finally closed above 4,000 for the first time on Thursday, February 23, 1995.
13This was the Dow's close at the peak on January 14, 2000.
14This was the Dow's close at the peak on October 9, 2007.

Records

Category All-Time Highs All-Time Lows All-Time Highs (Inflation-Adjusted) All-Time Lows (Inflation-Adjusted)
Closing [18] 18,312.39 Tuesday, May 19, 2015 41.22 Friday, July 8, 1932 18,312.39 Tuesday, May 19, 2015 718.00 Friday, July 8, 1932
Intraday [19] 18,351.36 Tuesday, May 19, 2015 40.54 Friday, July 8, 1932 18,351.36 Tuesday, May 19, 2015 706.16 Friday, July 8, 1932
Theoretical1 [20] 18,451.13 Tuesday, May 19, 2015 40.56 Friday, July 8, 1932 18,451.13 Tuesday, May 19, 2015 706.51 Friday, July 8, 1932

1All-Time Daily Theoretical High calculates the Dow's Level using the day's high of each of the 30 of the component stocks, regardless of the different times of day when they occurred. Before the capacity of computers to handle large volumes of data rapidly, this was the only practical statistic of this sort available.[21]

See also

References

  1. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ http://www.automationinformation.com/DJIA/dow_jones_closing_prices_1901_to_1910.htm
  4. ↑ http://www.deutscherderivateverband.de/DE/MediaLibrary/Document/Basiswerte/12-48-034%20Infoblatt%20Basiswerte%20Nr6_DowJones_engl_01.pdf
  5. ↑ http://www.automationinformation.com/DJIA/dow_jones_closing_prices_1911_to_1920.htm
  6. ↑ http://www.automationinformation.com/DJIA/dow_jones_closing_prices_1921_to_1930.htm
  7. ↑ http://www.automationinformation.com/DJIA/dow_jones_closing_prices_1941_to_1950.htm
  8. ↑ http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=969.26&year1=1965&year2=1966
  9. ↑ http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=969.26&year1=1965&year2=1995
  10. ↑ http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=11497.12&year1=1999&year2=2007
  11. ↑ http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=11722.98&year1=2000&year2=2007
  12. ↑ http://money.cnn.com/2013/02/01/investing/stocks-markets/index.html
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  15. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  16. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  17. ↑ http://www.nytimes.com/1990/07/17/business/dow-ends-at-2999.75-with-a-rise-of-19.55.html
  18. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  19. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  20. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  21. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

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