Happy Birthday, Dow Industrials Average! - The Big Picture
Happy Birthday, Dow Industrials Average!
Dow Jones Industrial Average is 121 years old
today. When it was launched — published is more accurate — its price was $40.94.
The holdings in the index were American Cotton Oil, American Sugar, American
Tobacco, Chicago Gas, Distilling & Cattle Feeding, General Electric, Laclede
Gas, National Lead, North American, Tennessee Coal & Iron, U.S. Leather, and
U.S. Rubber.
The Dow is a throwback, no longer owned by
Dow Jones; today, its an S&P property. It is a price-based index that is of dubious value. And yet, it persists through a combination of
inertia, success and nostalgia.
Chart by Chris Kacher (Moka
Investors) via Marketwatch
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