The Dow remains a shorthand for America’s economic health

The Dow Jones Industrial Average is a stock market index

The Dow Jones Industrial Average tracks 30 large U.S. companies from all major U.S. sectors except for utilities and transportation. It's considered a bellwether of the U.S. economy.

The Dow Jones Industrial Average was created in the aftermath of a financial crisis

Charles Dow introduced the index in 1896, following the Panic of 1893—a severe economic downturn. The DJIA offered investors a straightforward tool to track recovery and gauge the health of America’s emerging industrial economy.

The Dow now tracks 30 major US companies across various industries

Since 1928, the DJIA has included 30 firms. Today's group spans technology, healthcare, and finance—with Apple, Microsoft, JPMorgan Chase, Pfizer, and Coca-Cola among its most recognized components.

Critics argue the Dow no longer reflects the modern economy

With only 30 companies and a price-weighted formula, skeptics say the DJIA underrepresents vast sectors of the market. They claim it is outdated, though its close correlation with the broader S&P 500 keeps it relevant.

The Dow’s price-weighted formula makes stock price matter more than size

Unlike most indices, which weigh companies by market value, the DJIA is price-weighted—meaning higher-priced stocks have more influence on its movements. As a result, a company’s share price matters more than its overall size.

The Dow Jones Industrial Average vs. the S&P 500: Which one is a better representation of the economy?

The Dow and S&P 500 are both indexes meant to provide a broad representation of the economy. The Dow has 30 companies and is weighted by share price, while the S&P 500 has 500 different companies weighted by market capitalization. Since the indexes are so different, investors don't always agree on which index is a better representation of the economy—though the two move in the same direction more than 90% of the time.

The Dow Divisor keeps the index consistent through time

To adjust for stock splits, mergers, and replacements, the DJIA uses a figure called the Dow Divisor. Originally valued around 12 in 1896, and now less than one, it ensures today’s index levels remain comparable with the past.

Dow components are chosen by a committee, not a formula

Unlike many indices, the Dow has no strict rules for inclusion. A small committee at S&P Dow Jones Indices uses judgment—favoring companies with strong reputations, steady growth, and broad investor interest.

See every company in and out of the Dow since 1928

The index has had 30 companies since 1928. See each company’s tenure on the index and what firms were added or replaced by year and industry.

Relive the biggest swings in the Dow’s history

From the 1929 crash to the Coronavirus Pandemic in 2020, this piece spotlights five of the most dramatic single-day moves in the Dow’s 125-year history.

Dow Theory laid the groundwork for modern market analysis

Developed by Charles Dow in the late 19th century, Dow Theory argued that markets move in trends. Its principles—confirmation, trends and volume—still influence technical analysis today.

GE’s removal marked the end of an era for the Dow

General Electric, the last surviving original Dow component, was dropped in 2018, after years of decline. Its exit symbolized the fading dominance of industrial giants and the index’s shift toward technology and healthcare.

Why does the stock market matter?

Open any newspaper, turn on your local TV news station, or listen to a daily business radio segment, and you’re bound to hear about how the stock market is performing. Netflix created a 17-minute (free) explainer that dives deep into the nitty-gritty of how we got here.

Retail investing by the numbers

When average Americans began pouring into the stock market, Wall Street wasn’t sure if its new guests were there to stay. But at the end of 2023, Public confidently declared that retail investors “weren’t going anywhere” after 30 million new individuals began buying and selling stock. Download the report to learn more here.

Bond yields are the returns investors earn from their bond’s interest—and they're a key economic barometer

Bond yields are considered a major indicator of how the US and global economies are doing, and where they’re headed. When bond yields increase, this tends to mean the cost to borrow money is also increasing.

The Wall Street Journal: a timeline

The Wall Street Journal got its start as a financial news bulletin for people trading stocks. Since then, it has evolved beyond just financial news. It now ranks among the preeminent global business news sources.

Many economists see Black Friday as a litmus test for consumer confidence

Some investors and analysts look at Black Friday’s sales numbers as a way to gauge the overall health of the retail industry—and consumer confidence at large. However, others don’t believe Black Friday results have a particularly significant impact on markets, arguing that the figures only cause short-term gains or losses.

The Nasdaq's 'Magnificent 7' companies are responsible for roughly 40% of the Nasdaq 100 index's gains, while the remaining 93 companies account for the other 60%.

How the stock market performed under every US president

It's worth noting that the stock market as we know it today didn't exist under the leadership of earlier presidents, such as George Washington and Thomas Jefferson.

Visualizing the world's wealth in 2019

The world has a net worth of $360T. The U.S. economy continues to dominate given its sheer size, Asia and Europe are not that far behind.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

The US dollar is the official currency of the United States and is the most circulated currency around the world

The US dollar was established in 1792 and comes in the form of coins or paper money. It's considered one of (if not the most) stable currencies in the world due to America’s strong and robust economy, as well as its relatively stable government.

How the Great Depression still shapes the way Americans eat

From fortified foods to nutrition labels, the legacy of an early financial crisis lives on in kitchens across the United States. Ethnic foods with their (supposedly) hunger-triggering spices were vilified and considered “stimulants” along the lines of caffeine and so, in their stead came prune puddings, canned-meat stews, and dairy-heavy vegetable casseroles featuring America’s first fortified foods. Read more here.

Roughly 75% of Americans report feeling okay financially

Since 2022, fewer Americans report feeling worse off financially, moving from 35% in 2022 to 28% in 2025. Likewise, the number of Americans who reported feeling better about the economy is up 4% from 2022. More than 90% of Americans cite price increases as their biggest financial concern.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

Advertising-related activity may have supported roughly one in five American jobs as of 2024

That’s according to a study commissioned by The Advertising Coalition, conducted by S&P Global Market Intelligence, which also found that the advertising industry powered more than 20% of total US economic output at the time.

Visualize every time Congress has mentioned the word 'democracy' since 1880, and why

This Pudding interactive analyzes every mention of "democracy" in the Congressional Record over 145 years, charting how the word shifted from a partisan label to a concept, and tracking when lawmakers warned the system itself was under threat.

Read how Fordism helped invent the American middle class

Henry Ford's revolution of the assembly line and American manufacturing as a whole gave rise to the American middle class. The introduction of the $5 workday (in exchange for eight-hour days of highly repetitive work) raised factory workers' wages enough to reorient the economy around consumer demand.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

A century of Billboard issues documenting the evolution of popular music.

The American Society of Civil Engineers' infrastructure report card gave the US a C in 2025, its highest grade since the project launched in 1998.

The US Constitution is widely regarded as the longest-standing written national constitution still in force—see how it has influenced rights worldwide.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Despite being favored by 87% of Americans, Congress does not have term limits.

An initial public offering or 'IPO' is the process of a private company becoming public by putting shares of the company on the stock market for purchase.

Meet the 56 signers of the Declaration of Independence—most of whom didn't put pen to paper until August 2, 1776—and see their original signatures.

Discover the catastrophic consequences of a failure of the US electrical grid—something that is more likely than many Americans think.

At the beginning of the 20th century, a group of young men ate standard American food—replete with food additives like borax and formaldehyde—as part of government research to better understand food safety.

44% of Americans say they pray at least once a day—discover how your state's religiosity stacks up against the rest of the country.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

Browse a detailed visual analysis of over 200,000 similes—comparisons that often use 'like' or 'as'—from popular fiction to see how frequently writers the same idiomatic expressions.

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

Studies suggest when you sleep is as important as how much you get, and syncing with your circadian rhythms may lead to less fatigue and improved long-term health outcomes

Sears sold DIY house kits starting at $600 in its famous catalog from 1908 through the 1940s, resulting in roughly 10,000 'Sears and Roebuck houses' being built.

Dorothy's famous entrance into Oz in 'The Wizard of Oz' relied on analog tricks, including a body double and sepia-toned paint, as much as it did on technology

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

'Silent' fireworks have gained more interest in recent years as a quieter celebratory option.

Use this tool to calculate the dollar value of your parental mental load, from meal planning to coordinating after-school care, then see resources that help generate solutions.

For centuries, Niagara Falls has been a magnet for daredevils seeking to conquer one of nature's most powerful wonders, with its 200-foot drop and water rushing at 32 feet per second with 280 tons of force.