Dow’s 1,000-point milestones
The Dow Jones industrial average punched through 17,000 for the first time on Friday following good news on the U.S. job market. The index has soared past some big, round-number milestones in recent years. Here’s when the Dow has crossed 1,000-point milestones.
Nov. 21, 2013 – 16,000: The Dow crossed its third and final 1,000-point milestone for 2013 on this day. The index was propelled by a combination of rising corporate profits and low interest-rate policies from the Federal Reserve that made stocks a more compelling place to invest than bonds.
May 10, 2013 – 15,000: The average broke through 15,000 only three months after passing 14,000. It was up nearly 15 percent for the year, and would climb another 15 percent by the end of 2013.
Feb. 1, 2013 – 14,000: The Dow crossing 14,000 was an especially big milestone. The Dow hadn’t traded above 14,000 since October 2007, when the financial crisis began to drag down the stock market. It took the Dow more than five years to recover from the housing market bust, and subsequent financial crisis and recession.
March 13, 2012 – 13,000: The Dow touched the 13,000-point mark several times in early 2012, but finally closed above it in mid-March. The stock market rallied that week after the Fed announced the results of its annual bank “stress tests.” Those tests showed the U.S. banking system continuing to recover from the 2008-2009 financial crisis. (AP)