Wall Street experienced a once-in-a-decade event this week when the Dow Jones Industrial Average (DJIA) closed completely unchanged on Tuesday.
The Dow closed at an all-time high of 27691.49 on Monday and closed at 27.691.49 again on Tuesday.
This unlikely event marks the first time in more than five years the blue-chip index closed unchanged. It was the third such occasion in history. Tuesday also marks the first time since 1994 that a flat close has occurred the day after a record closing session.
The last time the index ended flat was on April 24, 2014, when the Dow closed at 16,501.65. Before that, the last time was 12 years prior on December 21, 2001.
According to CNBC, unchanged closures are also uncommon for other indexes. The S&P 500 has closed flat to two decimal places only ten times since 1980.
On Tuesday, the S&P 500 finished up with its second-highest close in history, up 4.83 points, or 0.2%, to 3091.84. And the Nasdaq Composite Index saw it’s fifteenth record close of the year, going up 21.81 points, or 0.3%, to 8486.09.
Some notable action took place on trading day despite the Dow finishing flat.
Investors had their eyes on President Donald Trump’s hotly-anticipated economic speech in New York, where Wall Street hoped the Commander-In-Chief would offer clues about the state of U.S.-China trade talks.
Trump sought to rally the markets ahead of his speech, posting to Twitter:
Economy is BOOMING. Seems set to have yet another record day!
During his speech, Trump failed to offer any real insight into U.S.-China trade talks; as a result, the Dow declined 0.1%.
Disney (NYSE:DIS) was also in the headlines as the company launched its new Disney+ service. And Boeing (NYSE:BA) influenced markets after the aircraft company attempted to restore public trust in the 737 Max.
Last modified: September 23, 2020 1:15 PM