Apr 10
16
Dow at 11,000 on Friday April 9, 2010
The Dow at 11,000? Can it be? The Dow almost hit 11,000 with a 70 points increase on Friday April 9, to close at 10,997. At this writing, the Dow crossed the magic 11,000 threshold. So we wanted to look into the Dow Jones Industrial Average (DJIA).
Since 2008, the Dow Jones Industrial Average has had a face-lift. In June of 2009 Cisco Systems and The Travelers Companies replaced General Motors and Citigroup; in September of 2008, Kraft foods replaced AIG, and in February 2008 Altria Group and Honeywell were replaced by Chevron and Bank of America. Average was founded by Charles Dow on May 26, 1896, with 12 stocks at first. General Electric is the oldest Dow stock, and is one of the original 12 companies listed on the Dow. DJIA had the largest one-day percentage drop on Black Monday; October 19, 1987, when the average fell 22.61%.
On October 9, 2007, the Dow Jones Industrial Average closed at the record level of 14,164.53. There are 3 NASDAQ listed stocks on the DJIA. Out of the 30 Dow stocks, 29 pay a dividend with Verizon having the highest dividend yield 6.5%. (As of April 9th) Cisco Systems is the only DJIA stock that does not pay a dividend. Presently, every $1 change in price in a particular stock within the DJIA average, equates to a 7.56 point movement.
Southridge Capital will continue to monitor the path of the Dow and blog accordingly.
