Stock market’s 5-year rally hits milestone

After losing 54 percent of its value in the Great Recession of 2007-2009, the Dow Jones Industrial Average has come roaring back. The Dow bottomed out at 6,547 in March 2009 before roaring back in the five-year-old bull market to close Thursday at 17,068.26 -- a 160 percent gain for savvy investors who got in at the bottom.


8/17/07: Federal Reserve cuts discount rate half a point to help ease subprime lending crisis

8/23/07: Bank of America invests $2 billion in Countrywide Financial to help shore up the nation's largest mortgage lender

11/1/07: Federal Reserves injects $41 billion into US money markets after cutting interest rates further

11/12/07: Big banks pledge a $75 billion superfund to restore confidence in credit markets

12/12/07: Federal Reserve injects $40 billion into money supply in coordination with other central banks

2/19/08: Crude oil prices top $100 a barrel

6/26/08: Crude oil hits new high of $140 a barrel, gas prices at record highs

9/7/08: Federal government takes over Fannie Mae and Freddie Mac

9/14/08: Merrill Lynch sold to Bank of America

9/15/08: Lehman Brothers files for bankruptcy protetion

9/17/08: Federal Reserve loans $85 billion to American International Group

10/6/08: Federal Reserve makes emergency move to lend $1.3 trillion directly to companies

12/16/08: Federal Reserve cuts federal funds rate to between 0 and 0.25 percent

12/19/08: US auto industry bailout approved

1/20/09: Barack Obama inaugurated as president

2/17/09: President Obama signs $787 billion economic stimulus package

2/27/09: Fourth quarter GDP decreased at an annual rate of 6.2 percent

4/30/09: Chrysler files for bankruptcy; one month later, General Motors files for bankruptcy

1/28/10: US Senate confirms Federal Reserve Chairman Ben Bernanke for a second term.

3/23/10: President Obama signs Affordable Care Act

4/2/10: Massive oil spill in Gulf of Mexico

7/21/10: President Obama signs the Wall Street Reform and Consumer Protection Act

3/11/11: Powerful earthquake and tsunami jolt Japan

5/1/11: Osama bin Laden killed

7/11/11: Debt woes in Europe depress US stocks.

12/15/11: US marks the end of the Iraq war

5/18/12: Facebook has its IPO

6/28/12: US Supreme Court upholds the Affordable Care Act

10/28/12: Superstorm Sandy hits New York/New Jersey area

3/13/13: Cardinals elect Pope Francis to lead the Roman Catholic Church

4/15/13: Bombs set off at Boston Marathon kill 3, injure hundreds

6/26/13: US Supreme Court strikes down parts of the Defense of Marriage Act, allowing states to decide who can marry

10/1/13: Congress shuts down US government for 16 days

11/7/13: Twitter debuts as a public stock, raising $2.1 billion

11/19/13: J.P. Morgan Chase and Co. agrees to a record $13 billion penalty for its role in mortgage crisis.

SOURCE: California Department of Finance

Globe staff

Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of