Blog Oct. 18

This week I read an article from The Dallas Morning News called Hello Again, 10,000 in the Wall Street section. The main issue of the articles is, a year after falling below 10,000, the Dow Jones industrial average passes that milestone again. The last time the Dow saw the number 10,000, they were headed in the wrong direction in the middle of the financial crisis which affected the nation so negatively. The Dow recovered about 3,450 points since bottoming out during the recession. However, along with many other well known, major stock indexes, the Dow is still a former shadow of itself, a long way from whole. The Dow is still approximately 4,000 points off its record high and the market is still down about 30 percent from its high. The Dow gained 144.80 points to end at 10,015.86, while the broader Standard & Poor’s 500 stock index rose 18.83 points to 1,092.02, and the Nasdaq composite climbed 32.34 points to 2,172.23. Most of the major stock indexes have rebounded 50 percent or more since early March and continued to increase throughout the summer and even into early autumn as the economy became more stable and companies began seeing higher profits and an increase in revenue as well.