Begin To Invest

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This Day in History

Oct 10, 1929: the Dow rose 1.79% to 352.86, as U.S. Steel orders beat forecasts and call money eased.

It was October's highest close. A month later the index was 37.5% lower.

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This Day in History

Oct 10, 2008: the Dow swung about 1,000 points and closed at 8,451.19, ending an 18.15% weekly loss.

Lehman's swaps settled at 8.625 cents that day.

Monday would be a major rebound: +11.08%.

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This Day in History

Oct 9, 2008: one year to the day after hitting an all-time high, the Dow fell 678.91 points, 7.33%, to 8,579.19.

It was 39% below the peak.

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This Day in History

Oct 9, 1930: Prince & Whitely, an NYSE member since 1878, failed. The Dow fell 4.27% to 192.00, the first close below the 1929 panic low.

The worst was still ahead.

https://t.co/66XE95j63t

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This Day in History

Oct 9, 1916: a German U-boat sank five ships off Nantucket on Sunday. Monday the Dow fell 3.07%.

It hit a wartime peak six weeks later.

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This Day in History

Oct 9, 2002: the Dow closed at 7,286.27, the bottom of the dot-com decline.

That day Daniel Kahneman won a Nobel for showing losses hurt more than gains please.

https://t.co/66XE95j63t

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This Day in History

Oct 3, 2008: After multiple attempts, the $700B rescue became law, and the Dow, up 200 at the House vote, closed down 1.5%.
That morning Wells Fargo bid $7/share for Wachovia; the FDIC sold it Monday for $1.

https://t.co/JB6d7dT7OJ

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This Day in History

Oct 3, 1929: Britain's Chancellor called Wall St. "an orgy of speculation."

The Dow would fall 4.2% on the day.
The big crash came 3 weeks later.

https://t.co/JB6d7dT7OJ

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This Day in History

Oct 3, 1913: President Wilson signed the Underwood Tariff and the first modern income tax into law: 1% tax on income over $3,000.
At the time it was paid by 3% of Americans.

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This Day in History

Oct 2, 1942: FDR signed the Stabilization Act, freezing wages and prices at Sept 15 levels.

One clause exempted "insurance and pension benefits" from the freeze. That is why Americans get health insurance from their employer.

https://t.co/8HZo2TwBmo

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This Day in History

Oct 2, 1919: Woodrow Wilson suffered a massive stroke. His wife, doctor and secretary hid it for months. The Dow rose 0.06%, because Wall Street was not told the truth.

https://t.co/8HZo2TwBmo

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This Day in History

October 2nd, 1990 – Japan’s Nikkei index has its best day in history, rising 13.2%, 2,676.55 points.
Despite this one day rise, the Nikkei would finish the year 38% lower than where it started.

https://t.co/8HZo2TwBmo

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This Day in History

Oct 1, 1997: WorldCom bid $30 billion in stock for MCI, a company three times its size. It won at $37 billion, became the No. 2 US telecom.

It would file the largest bankruptcy in history five years later.

https://t.co/c9bo4ZDeKM

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This Day in History

Oct 1, 1890: the McKinley Tariff became law, taking the average duty on dutiable imports to 49.5%
Five weeks later Republicans lost 83 House seats. Besides a temp bounce in 1892, stocks would take a decade to recover their 1890 highs

https://t.co/c9bo4ZDeKM

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This Day in History

October 1, 1928: the Dow $DJIA was rebuilt with 30 stocks and a new divisor, closing its first day at 240.01.
It rose 59% in the next 11 months, then fell 89%.

For a list of the original "Dow 30" and other events on this day: https://t.co/c9bo4ZDeKM

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This Day in History

Sept 30, 1968: Boeing $BA rolled out the first 747.
Pan Am's record breaking $525 million (roughly $5 billion today) order of 747s in 1966 would nearly bankrupt Boeing due to development costs, and saddle Pan Am with long-term debt.

https://t.co/YDYu6WtpkZ

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This Day in History

Sept 30, 1873: the NYSE reopened after a ten-day closure - the first in its history. Prices were "reasonably steady," to start.
But then, the market would fall another 10% in a month. The nation would be in a depression until 1878.

https://t.co/YDYu6WtpkZ

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This Day in History

Sept 30, 1981: the 10-year Treasury yield closed at 15.84% - the highest print in the history. Fed funds near 17%, CPI near 11%.
The famous 40-year bond bull market started on this day in 1981.

https://t.co/YDYu6WtpkZ

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This Day in History

Sept 29, 2000: Apple $AAPL fell 51.9% in one session, $53.50 to $25.75, on a warning issued after the close the day before.
It had positive earnings, ~$4bn in cash, and no debt that morning. But the tech bubble bursting led to panic

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This Day in History

Sept 29, 2008: One day after the failure of Wachovia Bank, the House rejected the bailout plan 205-228.
The Dow fell 777.68 points, 6.98%.
Its worst point loss ever to that date. VIX reaches highest level in history

https://t.co/RV6q8PL6RF