The S&P 500 index and Nasdaq have similarly peaked at record highs this year as technology stocks like Nvidia have swelled—though Nvidia is not a Dow Jones component. On September 15, 2008, a wider financial crisis became evident after the Bankruptcy of Lehman Brothers along with the economic effect of record high oil prices which had reached almost $150 per barrel two months earlier. These are the largest intraday point gains that closed in negative territory at the end of the trading session. In order https://www.forex-reviews.org/ to be considered an intraday point gain, the intraday high must be above the previous day closing price, while the opening price is used to calculate intraday highs. Stock market gains since the 2008 financial crisis were mediocre in volume. Only three days traded more than 200 million shares, a level similar to the late 1990s.
While the 40,000 milestone is attention-grabbing, the number itself means little to investors. Here’s a look at each period where the Dow Jones industrial average doubled since the index topped 1250 for the first time in September 1983. Provides fast-tracked access to live funds for confident and experienced traders. The downturn reflected a 10-month recession, from July 1953 to May 1954, during the military demobilization following the Korean War. It beat its January high, rising to 9,093.24 by the close of the day.
Revenue at the Health Benefits segment gained 3% to $37.6 billion, driven by rising premium yields. Revenue for the Carelon division climbed 19% to $14.7 billion on the « launch and growth of risk-based capabilities in Carelon Services and acquisitions completed in 2024. » Stocks closed solidly higher on Thursday for the fourth straight session as investor optimism about the new Trump administration continues to run high.
What are the areas of focus for Dow Jones Sustainability Indexes?
The Dow, relying on share prices rather than market capitalization, passed 40,000 for the first time on May 16 after Walmart’s shares reached an all-time high. The index passed the threshold again the following day before reaching its all-time intraday high as trading opened the next week. Dow’s record-setting day follows inflation falling to its lowest point in a year, increasing the possibility of the Federal Reserve cutting interest rates. Consumer prices also fell month-over-month for the first time since 2020. The market responded positively to wholesale prices increasing 0.2% last month, higher than projections of 0.1%, according to FactSet.
Major Indexes on Track for 2nd Straight Week of Gains
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. Confidence that a recession could be averted continued into 2024. The Dow climbed above 38,000 in January 2024 and reached 40,000 by May.
- When looking at what is the highest the Dow Jones has ever been, these external factors often play a big role in driving the market to new levels.
- For 2025, GE Aerospace projects low-double-digit adjusted revenue growth after rising 10% to $35.1 billion in 2024, along with adjusted earnings per share (EPS) of $5.10 to $5.45, up from $4.60 this year.
- Union Pacific’s earnings growth came as fuel costs plunged 23% to $581 million, and the average fuel price per gallon consumed dropped 24% to $2.41.
- Despite today’s roughly 2% rise, Elevance Health shares are down about 15% in the last year.
- American Airlines (AAL) shares slumped in premarket trading Thursday as the carrier’s soft outlook outweighed stronger-than-expected fourth-quarter results.
- The bout of inflation that followed the COVID-19 pandemic led to another sharp sell-off in 2022.
In the autumn, it began to consistently close above 35,000 points, and by the last week in December 2021, it surpassed 36,000 points. Despite today’s roughly 2% rise, Elevance Health shares are down about 15% in the last year. It’s a noteworthy turnaround for the major indexes, Best gold etfs which were each riding two-week losing streaks before last week. The Dow, S&P 500 and Nasdaq Composite are each up more than 2% so far this week, putting them on pace to post weekly gains for the second consecutive week.
Initial components
These actions artificially raised their earnings per share and the prices of their remaining outstanding stocks (stocks which are still held by shareholders). But this robust start was not indicative of extreme volatility the index would face as the year progressed. First, the conflict between Russia and Ukraine saw gas prices spike sharply. At the same time, the strength in the U.S. labor market meant extremely competitive wages driving consumer demand. Both of those factors sent inflation in the U.S. soaring to record levels not seen in over 40 years. As a result, the Federal Reserve (Fed) began raising interest rates in March 2022 to slow the economy down and arrest the pace of price rise.While inflation persisted, Fed’s aggressive rate hikes stoked fears of a recession.
The yield on the 10-year Treasury, which is sensitive to expectations about where interest rates are headed, was at 4.64%, up from 4.60% late yesterday. Exxon acquiring Pioneer for nearly $60 billion, a mysterious respiratory illness affecting dogs across the U.S. and the challenges against transgender health care. Before joining Forbes, he covered the Black Mountain, North Carolina community for the Asheville Citizen Times. Ty earned his bachelor’s degree in journalism from Auburn University and his master’s degree in journalism from Northwestern University. Shares of Intel, IBM and Home Depot helped drive the record-setting rally.
- An intraday point gain is defined as the difference between the opening price (which may or may not be the intraday low) and the intraday high.
- For example, before 1992, the index high was calculated using the intraday trading highs of each component stock, even though the highs for all 30 companies were likely not reached at the same time.
- Conversely, an encouraging drop in inflation reported earlier this week helped to fuel this latest rally.
- The index closed above 23,000 on Oct. 18, 2017; slightly more than a month later, it broke 24,000.
- The Dow Jones Industrial Average (DJIA) made history by surpassing 40,000 points for the first time on May 16, 2024, hitting an intraday peak of 40,051.05 points.
- On March 29, 1999, the average closed at 10,006.78, its first close above 10,000.
- 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.
Key Milestones in Dow Jones History
The factor is changed whenever a constituent company undergoes a stock split dowmarkets so that the value of the index is unaffected by the stock split. The recession from 1973 to 1975 also led to a falloff for the Dow, which dropped 45% from its 1,051 peak in 1973 to just under 600 in 1974 (about 7,486 and 3,871 points, respectively, inflation-adjusted). The Dow also lost 26.5% during the Cuban missile crisis of 1962. The largest single-day drop, percentage-wise, that the Dow has had occurred when the market crashed on Oct. 19, 1987, Black Monday.
Record Highs Set in 2017
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 comparison to its record highs. The airline reported fourth-quarter net income of $590 million, or 84 cents per share, on revenue of $13.66 billion. Analysts expected profit of $426 million, or 60 cents per share, on revenue of $13.39 billion, per Visible Alpha. Shares of GE Aerospace (GE) surged in premarket trading Thursday after the company reported fourth-quarter results far above analysts’ estimates. Elevance announced it would increase its quarterly per-share dividend to $1.71 from $1.63.
NuScale Power (SMR) shares also jumped nearly 14% Thursday, adding 32% this week. Meanwhile, Vistra (VST) shares climbed close to 3% Thursday and have gained 12% for the week so far. 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. Although the DJIA is currently at an all-time high, it hasn’t always been smooth sailing.
In other markets, bitcoin was at $104,000 in late-afternoon trading, up from a low of $101,200 this morning. The digital currency hit a record high above $109,000 on Monday ahead of Trump’s inauguration amid investor hopes that the new administration will adopt policies that support the crypto industry. On Thursday, speaking to participants at the World Economic Forum in Davos, Trump said he would use tariffs to push companies to make products in the U.S. and cut corporate taxes for companies manufacturing on U.S. soil. He also asked Saudi Arabia and the OPEC group of major oil-producing countries to reduce oil prices, which he said would lead to lower interest rates.
