Dow Jones index breaks 29,000 for first time ever

nypost ^ | 01/10/2020 | Noah Mansskar

[ClearCase_guy]

I think I remember when it broke 1000 for the first time. That was ... a while ago.

[DouglasKC]

I think I remember when it broke 1000 for the first time. That was ... a while ago.

I remember back in the 80's when it was nearing 2000 and heard someone use the phrase "the mythical 2000 mark".

[TomGuy]

Trump and his magic wand:

DOW Jones Industrial:

Date	Open	Close	Volume
Nov 08, 2016*	18,251.38	18,332.74	79,820,000
Nov 09, 2016	18,317.26	18,589.69	173,110,000
Nov 09, 2017	23,492.09	23,461.94	305,440,000
Nov 09, 2018	26,149.11	25,989.30	324,450,000
Nov 08, 2019	27,686.20	27,681.24	221,440,000
Jan 09, 2020	28,851.97	28,956.90	275,060,000

*Election Day

[Breyean]

I remember sitting in the college cafeteria reading a story in the WSJ with a tile something like - Will the DOW Ever Break 1,000?.

Had to be the mid 1970s.

Wish I had had $$ back then to invest!

[Parley Baer]

This is grounds for impeachment according to the dimoKKKRATS.

[RightField]

There was a broker in our town years ago with vanity plates on his car that read “DOW7000”. Of course, I remember $.31/gal gasoline, too.

[Beagle8U]

Trump gains from the Obama economy...Details at 11./sarc

[dsrtsage]

It is because O’Bungholes constant stream of new restricting regulations are finally kicking in

[setter]

After the 2008 crash we lost quite a bit like everyone. My broker said don’t worry. It will come back.

I was thinking pulling what was left and put it in something more stable.

Glad I listed to him.

[Beagle8U]

“Had to be the mid 1970s.
Wish I had had $$ back then to invest!”

Just think how much you would have if you had invested in farm land back then?

[conservatism_IS_compassion]

I think I remember when it broke 1000 for the first time. That was ... a while ago.

A while ago, as in “early in the Nixon Administration” - and it sagged back below 1000, and didn’t cross it again until Reagan’s first term.

Ronald Reagan

• Got the country going again.

• Whipped inflation.

• Tamed the Energy Crisis (albeit by cozying up to Saudi Arabia), and

• Transcended Communism.

[abb]

I have this date and number written down somewhere on a piece of paper in my notebook.

https://www.wsj.com/articles/SB10001424052970204251404574344230339019304

It was on Aug. 12, 1982, that the Dow Jones Industrial Average dropped to its 1980-82 recession low of 776.92—almost precisely where the Index had closed in January 1964. Starting as a trickle, the decline in inflation and long-term interest rates picked up speed that summer, and investors in common stocks began to have confidence that they were being liberated from the shackles of double-digit inflation and interest rates, an innovation-sapping regulatory regime, and a tax code that was antithetical to capital formation.