July 4 in Market History

The market has seldom, if ever, been open on this date, but on July 4, 1817, one of the great early NYSE stocks, the Erie Canal, began construction. New York Governor DeWitt Clinton turned the first shovelful of dirt on July 4, 1817. 

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July 3 in Market History

In the week ending July 3, 1997, the Dow gained 208 points (+2.7%), the fourth weekly 200+ point gain in the 11 weeks from April to July 3, 1997. In those 11 weeks, the Dow gained 23.5%.

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July 2 in Market History

On July 2, 1932 (a Saturday), Franklin Roosevelt became the Democratic nominee for President, and the stock market began to come off its lows. After reaching its 20th Century low of 41.22 the next week (on Friday, July 8), the Dow rose 31.6% in the next three weeks and it rose 26.7% in July 1932. 

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July 1 in Market History

The first trading day of July has been UP in 16 of the last 19 years (1989-2007), with the first drop being a small (0.16%) loss on July 1, 1993, followed by 100-point losses in 2002 and 2004.

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June 30 in Market History

On June 30, 1999, the Fed pushed through the first of six interest rate increases in the next year, based on their worries that low unemployment would trigger inflationary wage demands. All they did was kill a stock market rally and cause the market to decline for the next three years.

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June 29 in Market History

On June 29, 1950, President Truman declared a naval blockade of South Korea, and the Dow Jones index promptly fell by more than 8 points (3.7%). 

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June 28 in Market History

On June 28, 1979, OPEC raised oil prices 24%, and oil shortages followed. Very soon, President Carter issued stringent measures to address America's oil shortage and 'national malaise.'

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June 27 in Market History

On June 27, 1857, the New York Herald predicted the 'Panic of 1857' (which began in August). The founder and publisher of the Herald, James Gordon Bennett, editorialized: 'What can be the end of all this but another general collapse like that of 1837, only upon a much grander scale?' 

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June 26 in Market History

On June 26, 1835, volume on the New York Stock Exchange set a record high of…7,825 shares. 

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June 25 in Market History

On June 25, 1950, at dawn on a Sunday morning, 200,000 North Korean troops stormed into South Korea. The next day, the Dow fell a staggering 4.7% (-10.44 points), to 213.91, the largest one-day drop since 1937, and the worst single-day decline we would see again until 1962. 

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