Dow Jones Industrial Average Historical Openings: Key Details and Analysis
Investors often rely on the Dow Jones Industrial Average (DJIA) for insights into the overall health of the U.S. stock market. In this article, we will explore the opening prices of the DJIA for specific dates, discussing the format and significance of these figures, as well as how to interpret them effectively.
Understanding the Format: XXXXX.XX
The format XXXXX.XX for the opening price of the Dow Jones Industrial Average refers to the dollar and cent value of the index at the start of trading. For instance, on March 12, 2018, the opening price of the DJIA was recorded as 24591.66. This indicates that the index started the trading day with a value of $24,591.66.
Similarly, on June 15, 2018, the opening price of the DJIA was approximately 25167.09 points, which means that at the beginning of trading, the index was at this level.
To find the opening price, one can use functions like INDEX(GoogleFinance("DJIA", "open", date)) in Google Sheets. This function retrieves the opening value for the DJIA on the specified date.
Historical Openings for Select Dates
March 02, 2018: The opening price of the DJIA was 24394.91. This represents the level at which the index began trading on that day.
March 12, 2018: The opening price for the DJIA on this date was 25178.61. This figure shows the value of the index when trading commenced on March 12, 2018.
March 15, 2019: The opening price for the DJIA was 25925.63. It is important to note that this was not the opening price for the entire year of 2019, but rather for the specified date. The opening price for the start of the year was 23346.24, a 2,579.39 point increase from the value mentioned above.
The Importance of Opening Prices in Market Analysis
While these specific opening prices are not memorized by investors, they are crucial for market analysis. Opening prices can provide insights into the overall sentiment of the market and can be used to compare market performance over different days or time periods. For example, on April 12, 2018, the market opened at 24407.16, but closed at 24189.45, indicating a decline of 217.71 points throughout the trading day.
Price is always measured in dollars and cents for the DJIA, as it reflects the value of the 30 largest U.S. companies' stocks combined. Therefore, any reported opening price will follow this format.
Conclusion
While detailed historical data is not essential for every investor, understanding the significance of opening prices and how to find them can be beneficial. For those studying the market or writing about the DJIA, Google and other financial resources can provide the necessary data. Remember, the key is to focus on the most important and relevant data for your specific needs.