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This Day In Market History: Sputnik Is Launched

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This Day In Market History: Sputnik Is Launched

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened

On this day in 1957, the USSR launched Sputnik I, the first artificial Earth satellite.

Where Was The Market

The Dow closed around 496.03 and the S&P 500 traded at 41.24.

The 'Space Age' Begins

The Soviet Union became the first key player in the race to space with Sputnik’s launch in 1957. Equipped with binoculars and an array of communication devices, Sputnik transmitted radio signals back to earth that were successfully picked up by radio operators. To combat the advancements, the U.S. began to develop their own satellite, commencing the “space race.”

The U.S. launched the Explorer in 1958.

Despite the Soviet Union’s lead in the late 1950s, the U.S. made giant leaps into space exploration with the successful Apollo lunar-landing program in 1969.

Today, companies like SpaceX are currently in development of innovative spacecrafts and rockets. CEO Elon Musk recently announced plans to send a passenger to the moon on the company’s next launch.

Related Links:

Could SpaceX Help Finance A Tesla Go-Private Deal? Morgan Stanley Weighs In

Why A Tesla-SpaceX Partnership Makes Sense, According To Morgan Stanley

A Sputnik I replica at the National Air and Space Museum. Public domain photo from NASA. 

 

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