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
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 a new 12½ year closing low of 6,547.05, on March 9, 2009, for a total loss of 54% in 17 months.
- 2009–Present: 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][15][16] After nearly 14 months, the Dow finally managed to break through the peak set back on May 19, 2015.[17]
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 20-point level; 2 to 50; 5 to 100; 10 to 500; 20 to 1,000; 50 to 2,000; 100 to 10,000; 200 to 20,000; and 500 point increments thereafter. Additional milestones may be used if necessary.
Milestone |
Closing Level |
Date first achieved |
62.761 | 62.76 | February 16, 1885 |
65 | | February 18, 1888 |
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 |
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 |
40 | 41.22 | July 8, 1932 |
42 | 42.99 | July 11, 1932 |
44 | 44.88 | July 13, 1932 |
46 | 46.50 | July 21, 1932 |
48 | 49.78 | July 25, 1932 |
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 |
|
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 |
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 |
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 |
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 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 | 6,703.79 | January 10, 1997 |
6,800 | 6,833.10 | January 17, 1997 |
6,900 | 6,961.63 | February 12, 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 2010s Bull Market (2009–Present)
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 |
18,312.3915 | 18,347.67 | July 12, 2016 |
18,400 | 18,506.41 | July 14, 2016 |
18,600 | 18,613.52 | August 11, 2016 |
18,800 | 18,808.78 | November 10, 2016 |
19,00016 | 19,023.87 | November 22, 2016 |
19,20017 | TBA | TBA |
19,400 | TBA | TBA |
19,600 | TBA | TBA |
19,800 | TBA | TBA |
20,000 | TBA | TBA |
20,500 | TBA | TBA |
21,000 | TBA | TBA |
21,500 | TBA | TBA |
22,000 | TBA | TBA |
22,500 | TBA | TBA |
23,000 | TBA | TBA |
23,500 | TBA | TBA |
24,000 | TBA | TBA |
24,500 | TBA | TBA |
25,000 | TBA | TBA |
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 before the stock market crash. 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 before the 1973–74 stock market crash.
10This was the Dow's close at the peak of August 25, 1987 before the Black Monday stock market crash.
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;[18] 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 before the dot-com crash.
14This was the Dow's close at the peak on October 9, 2007 before the 2008 financial crisis.
15This was the Dow's close at the peak on May 19, 2015 before the 2015-16 stock market selloff.
16The Dow theoretically exceeded 19,000 on Thursday, November 10, 2016, then exceeded 19,000 in actuality on Tuesday, November 22, 2016 for both intraday and closing. It took the Dow 480 trading days to go from 18,000 to 19,000.
17The Dow first traded above 19,200 during the session on Wednesday, November 30, 2016, but dropped below before the closing.
Records
Category |
All-Time Highs |
All-Time Lows |
Closing | [19] | 19,191.93 | Thursday, December 1, 2016 | 41.22 | Friday, July 8, 1932 |
Intraday | [20] | 19,225.29 | Wednesday, November 30, 2016 | 40.56 | Friday, July 8, 1932 |
Theoretical* | [21] | 19,340.74 | Thursday, December 1, 2016 | 40.54 | Friday, July 8, 1932 |
*All-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.[22]
See also
References
External links