The Dow Jones industrial average closed above 18,000 points for the first time Tuesday as investors were encouraged by news that the U.S. economy grew at the fastest pace in more than a decade in the third quarter.
It was the second time the stock market’s best-known barometer has plowed through big round number this year. Here are some other recent times the Dow has crossed 1,000-point milestones.
July 3, 2014 – 17,000. The Dow punched through this level following good news on the U.S. job market. The market had two slumps after that, which brought the Dow as low as 16,368 on Aug. 7 and 16,117 on Oct. 16. The mid-October slump put the Dow briefly into the red for 2014. It has increased 12 per cent since then.
Nov. 21, 2013 – 16,000: The Dow crossed this 1,000-point milestone propelled by a combination of rising corporate profits and low interest-rate policies from the Federal Reserve that made stocks more appealing compared to bonds.
May 10, 2013 – 15,000: The average broke through 15,000 for the first time only three months after regaining the 14,000 mark. The Dow was up nearly 15 per cent for the year at that point. The average would eventually end 2013 with a gain of 27 per cent.
Feb. 1, 2013 – 14,000: The Dow first closed above this level in July 2007, but the market started to slide during the subsequent financial crisis, housing market bust and recession. The Dow eventually went as low as 6,547 in March 2009. It took five years to regain the 14,000 level.