|Oct. 19th, 2006 05:04 pm If you did not jump out of a window 19 years ago, you would be in great shape today!|
The Dow Jones industrial average scored its first close above 12,000 this Thursday as Wall Street, showing its growing confidence despite new evidence of a weakening economy, managed to hold on to a slim advance. Leave a comment
The stock market's most prominent benchmark ended the day at 12,011.73,
the ninth time in just over two weeks that the Dow has achieved a record high close.
The record came one day after the index of 30 blue chip stocks made its first foray past 12,000.
The Dow's latest milestone came on the anniversary of Black Monday in 1987, when the Dow plunged 508 points and also suffered its second-biggest percentage drop in history. The Dow finished that day at 1,793.90 — far from Thursday's record. On Tuesday, October 20, Cinema Dave invested in his first stock and the rest is history.
The finish above 12,000 was the latest sign that the stock market continues a cautious recovery from the losses and despair investors suffered in the early part of this decade. After peaking in early 2000, the Dow and other indexes fell precipitously amid the dot-com collapse, recession and the impact of the Sept. 11, 2001, terror attacks.