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This Day In Market History: The S&P 500 Closes Above $400

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This Day In Market History: The S&P 500 Closes Above $400

Each day, Benzinga will take a look back at a notable market-related moment that happened on this date.

What Happened?

On Dec. 26, 26 years ago in 1991, the Standard & Poor's 500-stock index closed above the 400 level.

Where Was The Market?

The Dow Jones Industrial Average closed at 3082.96, while the NASDAQ ended the session at 559.30.

What Else Was Going On In The World?

The Chicago Bulls won the NBA championship, marking the first of an eventual six titles for superstar player Michael Jordan. Tickets to that year's NBA Finals went for as low as $28, but now sell for as much as $4,650 on sites like eBay Inc (NASDAQ: EBAY).

The S&P Makes History

On Dec. 26, 1991 the S&P finished the day at $404.84. The index had doubled in just over six years, and though it would finish the following year gaining only about 9 percent, it would double again by May 1997.

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