The Dow Jones Industrial Average (DJIA) closed at 381.17 on September 3, 1929, then fell to 41.22 on July 8, 1932—a decline of 89 percent. It did not regain its 1929 closing high until November 23, 1954. In the latest figures cited here, the Dow’s reported record close was 54,349.12 and its reported record intraday high was 54,744.33, both on August 5, 2026; its latest cited close was 51,176.96 on October 2, 2026.
What the Dow measures—and what its levels mean
The DJIA is a price-weighted index of 30 U.S. blue-chip companies. It covers industries other than transportation and utilities, according to S&P Dow Jones Indices. Because it is price-weighted, a member company’s share price—not its overall market value—is central to its influence on the index. The Dow’s index level is not the price of one security.
A closing level records the index at the end of a trading day. An intraday high is the highest level reached at any point during a trading session. Those are different measurements, so a record close should be compared with other closes, and an intraday record with other intraday highs.
The 1929 peak, the 1932 low, and the long recovery
| Date | Dow level | Measurement | Context |
|---|---|---|---|
| September 3, 1929 | 381.17 | Close | Peak before the 1929 crash. |
| July 8, 1932 | 41.22 | Close | Depression-era trough; 89 percent below the 1929 peak. |
| November 23, 1954 | Not applicable | Recovery date | The Dow first regained its September 3, 1929 closing high. |
These historical figures and the recovery date come from Federal Reserve History’s account of the 1929 crash, written as of November 22, 2013. The comparison is in nominal index points, not adjusted for inflation; it does not describe how the purchasing power of an investment changed over that period.
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Recent milestones and the reported records
The official S&P Dow Jones Indices milestone table records when the Dow first closed above certain round-number thresholds. A threshold milestone is not necessarily an all-time record: it identifies the first close above that number.
| Date | Level | Measurement and significance |
|---|---|---|
| February 6, 2026 | 50,115.67 | Close; first close above 50,000. |
| June 29, 2026 | 52,182.74 | Close; first close above 52,000. |
| August 4, 2026 | 54,085.88 | Close; first close above 54,000. |
| August 5, 2026 | 54,349.12 | Reported record close. |
| August 5, 2026 | 54,744.33 | Reported record intraday high. |
The milestone dates and closing levels are from S&P Dow Jones Indices’ DJIA milestone table. The two August 5 record figures are reported by a secondary summary checked September 24, 2026: it attributes the closing data to FRED and the intraday figure to Yahoo Finance, while noting that FRED reports closes. The precise intraday figure is therefore attributed to that summary, rather than presented as a figure directly confirmed on an official intraday record page: PropFirmReviews’ Dow Jones record summary.
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Latest cited close
The latest daily close cited here is 51,176.96 on October 2, 2026. FRED’s DJIA series is a daily closing series sourced from S&P Dow Jones Indices; its observations are index values at market close. The same October 2 close was reported by the Associated Press. See FRED’s DJIA series and the Associated Press market report.
This October 2 observation is the latest close cited here, not evidence that no higher record occurred after the September 24 record check and before October 2. For current market levels, check a live or updated market data source and note whether it reports a close or an intraday observation.
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How to read historical highs and lows fairly
- Compare the same measurement: closing levels belong in a closing-level comparison; intraday highs belong in an intraday comparison.
- Keep points and percentages distinct: an index-point change is not itself a percentage return. The Federal Reserve History account reports the 1932 trough as 89 percent below the 1929 peak.
- Do not treat old index points as inflation-adjusted values: the 1929 and 1932 levels above are nominal. No inflation-adjusted comparison is included.
- Remember the index’s construction: the Dow tracks 30 companies and is price-weighted, so it is not a measure of the entire U.S. stock market or a market-cap-weighted portfolio.
Further reading on the 1929 crash
For more historical context, Federal Reserve History lists John Kenneth Galbraith’s The Great Crash 1929 in its bibliography. It is optional background reading, not an investment guide.
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