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This Day In Market History: Dow Makes First Post-Financial Crisis High

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This Day In Market History: Dow Makes First Post-Financial Crisis High
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Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened?

On this day five years ago, the Dow Jones Industrial Average made its first new all-time high since the financial crisis of 2008 and 2009.

Where The Market Was

The S&P 500 was trading at 1,539.79 and the Dow closed the day at 14,253.77.

What Else Was Going On In The World?

In 2013, cyclist Lance Armstrong admitted to doping to win all of his career Tour de France victories. Two bombs exploded at the Boston Marathon, killing three people and injuriong 264 others. The average cost of a new house was $289,500.

First New Market Highs

Historically, the stock market has been incredibly resilient, and the past decade is no exception. In March 2009, it seemed as if the U.S. financial system was on the brink of collapse, yet the Dow Jones was making new all-time highs four years later.

The Dow peaked at 14,198.10 in late 2007 prior to the beginning of the housing crisis. By the time the market bottomed less than two years later, the Dow had tumbled as low as 6,469.95. From peak to valley, the financial crisis eliminated 54.4 percent of the Dow’s market cap.

By mid-2010, the Dow made its way back above 10,000, and by mid-2011 it was back above 12,000. The Dow completed its round-trip back to new all-time highs in 2013 and never looked back, eclipsing 26,000 earlier this year.

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