Wednesday, November 13, 2019

The Rare Flat Dow

Here's an anomaly for you: The Dow Jones Industrial Average closed at precisely 27,691.49 yesterday, which means the index produced its flattest finish since April 24, 2014, according to Dow Jones Market Data. The Dow had closed at 27,681.29 on Friday, which means it rose just over 10 points yesterday, which rounds off to 0.00 percent.

Finishing a session virtually unchanged is a rarity; before that date in 2014, it hadn't happened in 12 years. The last time the index finished flat after a record close was 1994, according to Dow Jones Market Data.

Flat finishes were more common for the Dow before 2001. That's the year that the New York Stock Exchange converted to the decimalization quote system, allowing investors to trade in increments of pennies, rather than the old system of eighths or sixteenths of a dollar.

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