The Standard & Poor's 500 Index reached its highest point in five years yesterday. The index closed at 1481, which is the highest close it's seen since December 26, 2007. It's still a bit below it's all-time record high of 1565, set on October 9, 2007.
The Dow Jones Industrial Average is in a similar place: It closed yesterday at its highest point in more than five years, at 13,596. It's still 4 percent below its record close of 14,165, also set back in October of 2007.
If it sounds unusual for the Dow Jones to trade below its all-time high for more than five years, it's really not. Back in September 1929, just before the Black Friday crash the precipitated the Great Depression, the Dow reached a peak of 381. It didn't reach that level again until November 1954 - a span of more than 25 years.
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