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Dow Jones Breaks the 40,000 Barrier for the First Time

Daniel Kim Views  

The Dow Jones Industrial Average (DJIA) of the New York Stock Exchange surpassed the 40,000-point mark for the first time in its history on the 16th (local time).

The Dow peaked at 40,051.05 around 11 a.m. but it partially returned its gains in the afternoon, closing down 38.62 points (-0.1%) at 39,869.38 compared to the previous session.

The Dow surpassed the 10,000 mark for the first time in March 1993 and crossed the 20,000 mark for the first time in January 2017. It took about 24 years for the index to double.

However, it only took seven years to climb from 20,000 to 40,000. The climb from 30,000 to 40,000 took three and a half years.

The Standard & Poor’s (S&P) 500 Index and the NASDAQ Composite both hit record highs during trading. The S&P 500 peaked at 5,325.49, while the Nasdaq Composite rose to 16,797.83.

The S&P 500 ended the day down 11.05 points (-0.21%) at 5,297.1, while the NASDAQ Composite closed 44.07 points lower (-0.26%) at 16,698.32 compared to the previous trading session.

According to foreign media, Goldman Sachs contributed the most to the Dow’s rise from 30,000 to 40,000 over the last three and a half years. The company’s contribution was about 1,500 points or 15% of the total.

Microsoft followed with a contribution of approximately 1,300 points, and United Health Group was responsible for about 1,250 points.

On the other hand, companies like Walt Disney and 3M counted as those that slowed the Dow’s rise during this period.

Daniel Kim
content@viewusglobal.com

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