“Tonight we’re going to party like it’s 1999.”
There was much celebrating on Oct. 14, when the Dow Jones Industrial Average closed above 10,000. It was the first time the Dow reached that mark since October 2008 and it marked great progress from the 6,547 close on March 9, 2009.
Still, as Dorsey Wright & Associates wrote in an analysis, it’s sobering to recognize that the Dow is right where it was 10 years ago. That’s more than 2,500 days of market openings and closings with a net result of zero growth.