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https://www.spglobal.com/spdji/en/landing/investment-themes/djia/
Submission: On March 26 via manual from SG — Scanned from SG
Submission: On March 26 via manual from SG — Scanned from SG
Form analysis 5 forms found in the DOM
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<form action="/spdji/en/search/" name="searchform" novalidate="novalidate">
<div class="search-input-wrapper global-search">
<input class="search-input" type="text" data-autocomplete="true" name="query" placeholder="SEARCH BY KEYWORD" autocomplete="off">
<div class="autocompleteOptions search-new" style="display: none;">
<ul></ul>
<ul></ul>
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<div class="autocompleteOptions search-new"></div>
<span class="search-input-svg">
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<div class="index-finder">
<a href="/spdji/en/index-finder" class="button-white arrow" data-gtm-category="Navigation" data-gtm-action="Main Navigation" data-gtm-label="Search">
<span>Index Finder</span>
</a>
</div>
</div>
</form>#
<form id="login-form" class="form-validation" action="#">
<h2 class="login-form-title">Log in</h2>
<p class="error"></p>
<div class="login-form-login-wrapper">
<ul class="form-field-list">
<li class="form-field-control">
<input type="email" id="email" name="email" value="" class="login-form-input-field email form-field-input" placeholder=" ">
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<li class="form-field-control">
<input type="password" id="password" name="password" class="login-form-input-field form-field-input" placeholder=" ">
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<a data-gtm-category="Register/Login" data-gtm-action="Click" data-gtm-label="Forgot Password" class="login-form-forgot-username-password" id="forgotPasswordLink">Forgot Password</a>
<button data-gtm-category="Register/Login" data-gtm-action="Click" data-gtm-label="Login" class="form-button btn-red" type="button" id="login-button">
<span>Log in</span>
</button>
</div>
</form><form id="forgot-password-form" class="form-validation" novalidate="novalidate">
<h2 class="login-form-title">Forgot Password?</h2>
<ul class="form-frame-tab-stage">
<li class="is-current tab-content" id="first-main-tab">
<ul class="form-field-list">
<li class="form-field-control" style="margin-bottom:5px;">
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</ul>
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<li>
<ul class="form-field-list captcha-info">
<li>
<div class="captcha-container">
<div class="captcha captcha-input" style="float:left">
<label for="captcha" class="floating-form-fields">
<input type="text" id="captcha" tabindex="1" value="" name="captchaText" class="form-field-input required" placeholder=" ">
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</div>
<div class="captcha" style="margin-top:10px;">
<img class="captcha-image fleft">
<a href="#" class="refresh-captcha" onclick="$('.captcha-image').attr('src', SPI.PageAjaxMap.captcha + '?' + Math.random());return false;"></a>
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<input type="hidden" id="useCaptcha" name="useCaptcha" value="true">
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<input type="submit" class="form-button btn-red btn-right" value="Submit >" id="btnForgotPassword" data-gtm-action="Click" data-gtm-label="Forgot Password_Submitted" data-gtm-category="Forgot Password">
</div>
</form>#
<form id="login-form-pre-login" class="form-validation" action="#">
<h2 class="login-form-title">Log in</h2>
<p class="error"></p>
<div class="login-form-login-wrapper">
<ul class="form-field-list">
<li class="form-field-control">
<input type="email" id="pre-login-email" name="pre-login-email" value="" class="login-form-input-field email form-field-input" tabindex="1" placeholder=" ">
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</li>
<li class="form-field-control">
<input type="password" id="pre-login-password" name="pre-login-password" class="login-form-input-field form-field-input" tabindex="2" placeholder=" ">
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</li>
</ul>
<a class="login-form-forgot-username-password" id="Prelogin-forgotPasswordLink">Forgot Password?</a>
<button class="form-button btn-red" tabindex="3" type="button" id="pre-login-button">
<span>Log in</span>
</button>
</div>
</form>Text Content
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DOW JONES INDUSTRIAL AVERAGE
THE DOW JONES INDUSTRIAL AVERAGE® IS A PRICE-WEIGHTED MEASURE OF 30 U.S.
BLUE-CHIP COMPANIES. COVERING ALL INDUSTRIES EXCEPT TRANSPORTATION AND
UTILITIES, IT'S THE WORLD'S LONGEST-STANDING INDEX AND MOST CITED MEASURE OF THE
MARKET.
Dow Jones Industrial Average DJIA Trivia DJIA Bests & Worsts DJIA Milestones
*
*
*
*
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“A person watching the tide coming in, and who wishes to know the spot which
marks the high tide, sets a stick in the sand at the points reached by the
incoming waves until the stick reaches a position to where the waves do not come
up to it, and finally recede enough to show that the tide has turned. This
method holds good in watching and determining the flood tide of the stock
market. The average of [stock prices] is the peg which marks the height of the
waves. The price-waves, like those of the sea, do not recede all at once from
the top. The force which moves them checks the inflow gradually, and time
elapses before it can be told with certainty whether high tide has been seen or
not.”
— Charles Dow, creator of the Dow Jones Industrial Average, in the January 31,
1901, edition of The Wall Street Journal
The Dow Jones Industrial Average (The Dow®) has been determining the flood tide
of the market for over 125 years. Created as a simple gauge of stock market
performance, this financial and cultural icon has weathered recessions,
depressions, bubbles, and expansions through 23 U.S. presidencies, two world
wars, and two global pandemics. Through it all The Dow has steadfastly tracked
the ups and downs of the U.S. market and by extension, served as a leading
indicator of U.S. and global economic health. Quoted far and wide from Wall
Street to Main Street, The Dow is still the number that most investors cite when
asked how the market is doing.
--------------------------------------------------------------------------------
THE DOW AND THE WORLD AROUND IT
--------------------------------------------------------------------------------
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CREATING AN ICON
The Dow Jones Industrial Average made its debut on May 26, 1896. It was the
brainchild of Charles Dow, the tall, bearded, and unassuming journalist who
cofounded Dow Jones & Co., publisher of The Wall Street Journal. Dow’s partner,
Edward Jones, also has his name attached to the average, but he had nothing to
do with its creation.
The Dow was initially made up of 12 stocks (versus 30 today), including a
leather-maker, a steel provider, and a sugar producer. It was calculated by
adding up the prices of the component stocks and dividing the sum by a divisor.
GOING OFF THE RAILS
The Dow Jones Industrial Average wasn’t Mr. Dow’s first foray into measuring the
market. In 1884 he produced an average of 11 stocks, mainly railroad companies.
This market indicator was intermittently published in the “Customer’s Afternoon
Letter,” a precursor to The Wall Street Journal.
But Dow believed that the rails only presented a partial picture of the economy
and that industrial companies—whose stocks were considered highly speculative at
the time—were crucial contributors to America’s growth. Since the goods produced
by the industrials were being delivered by the railroads, Dow reasoned that two
separate measures could confirm broad market trends. The Wall Street Journal
began publishing the industrial average and the railroad average in every issue
and has done so ever since. (With airplanes and trucks bringing competition to
the railroads, the components of the railroad index evolved to reflect the
changing landscape and, in 1970, the railroad average was renamed the Dow Jones
Transportation Average™.)
BECOMING A HOUSEHOLD NAME
At the time of The Dow’s introduction, investing in the stock market was
considered a highly speculative activity. And so in its early years, The Dow
achieved little prominence outside the narrow canyon of Wall Street. By the
1920s, however, ordinary citizens began investing in stocks, driving the
industrial average from the 100 range in 1924, up to nearly 400 before the Crash
of 1929. Ironically, it was the market’s fall that brought The Dow’s reputation
to the attention of everyday investors as the index lost nearly 30% of its value
over the course of two days. Before that, investors had been more focused on
their individual stocks, but after the crash investors were more interested in
following general market conditions. The Dow made that possible.
EVOLVING YET CONSTANT
Since its early days the index has evolved with the U.S. economy, adding or
eliminating companies as industries have gained or lost favor in the market.
Despite those changes, one of The Dow’s original components, General Electric,
remained in the iconic index until as recently as 2018. Through its historical
continuity The Dow connects us to our financial past and offers valuable
lessons, while also reflecting the current state of the market to millions of
investors around the world each day. It doesn’t get closer to Charles Dow’s
original vision than that.
--------------------------------------------------------------------------------
HOW THE DJIA COMPARES TO THE S&P 500
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COMPARING ICONIC INDICES
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AT A GLANCE
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INDEX LITERACY
LEARN MORE
--------------------------------------------------------------------------------
MORE DJIA RESOURCES
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Get Index Data
* FIND OUT WHAT COMPANIES HAVE LICENSED THE DOW AS THE BASIS FOR ETFS.
Explore Index-Linked Products
* GET OUR LATEST COMMENTARY ON THE U.S. EQUITIES MARKET.
Read the U.S. Equities Market Attributes
--------------------------------------------------------------------------------
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