Dow also founded The Wall Street Journalwhich has become one of the most respected financial publications in the world.

What's the difference between the Dow Jones Industrial Average and the S&P ?

He also invented the Dow Jones Industrial Average as part of his research into market movements. He developed a series of principles for understanding and analyzing market behavior which later became known as Dow theorythe groundwork for technical analysis. Charles Henry Dow was born in Sterling, Connecticuton November 6, When he was six years old his father, who was a farmer, died. The family lived in the hills of eastern Connecticutnot far from Rhode Island.

Dow did not have much education or training, but he managed to find work at the age of 21 with the Springfield Daily Republicanin Massachusetts.

He worked there from until as a city reporter for Samuel Bowleswho taught his reporters to write crisp, detailed articles. Dow then moved on to Rhode Island, joining the Providence Starwhere he worked for two years as a night editor. He also reported for the Providence Evening Press. InDow joined the staff of the prominent Providence Journal. Danielsonthe editor there, had not wanted to hire the year-old, but Dow would not take no for an answer.

Upon learning that Dow had worked for Bowles for three years, Danielson reconsidered and gave Dow a job writing business stories. Dow specialized in articles on regional history, some of which were later published in pamphlet form. Dow made history come alive in his writing by explaining the development of various industries and their future prospects.

Inhe published a History of Steam Navigation between New York and Providence. Three years later, he published Newport: The City by the Sea. It was an account of Newport, Rhode Island 's settlement, rise, decline, and rebirth as a summer vacation spot and the location of a naval academy, training station, and war college.

Dow reported on Newport real estate investments, recording the money earned and lost during the city's history.

He also wrote histories of public education and the prison system in the state. Danielson was so impressed with Dow's careful research that he assigned him to accompany a group of bankers and reporters to Leadville, Coloradoto report on silver mining. The bankers wanted the publicity in order to gain investors in the mines.

InDow and various tycoonsgeologistslawmakersand investors set out on a four-day train trip to reach Colorado. Dow learned a great deal about the world of money on that journey as the men smoked cigars, played cards, and swapped stories. He interviewed many highly successful financiers and heard what sort of information the investors on Wall Street needed to make money.

An Introduction To Stock Market Indexes

The businessmen seemed to like and trust Dow, knowing that he would quote them accurately and keep a confidence. Dow wrote nine "Leadville Letters" based on his experiences there.

He described the Rocky Mountainsthe mining companies, and the boomtown's gamblingsaloonsand dance halls. He also wrote of raw capitalism and the information that drove investments, turning people into millionaires in a moment. He described the disappearance of the individual mine-owners and the financiers who underwrote shares in large mining consortiums.

In his last letter, Dow warned, "Mining securities are not the thing for widows and orphans or country clergymen, or unworldly people of any kind to own. But for a businessman, who must take risks in order to make indian stock market dictionary who will buy nothing without careful, thorough investigation; and who will not risk more than he is able to lose, there is no other investment in the market today as tempting as mining stock.

InDow left Providence for New York City, realizing that the ideal location for business and financial reporting was there. The year-old found work at the Kiernan Wall Street Financial News Bureau, forex market order limit order delivered by messenger hand written financial news to banks and brokerages.

Kiernan asked Dow to find another reporter for the Bureau, Dow invited Edward Davis Jones to work with him. Jones and Dow had met when they worked together at the Providence Evening Press. Jones, a Brown University dropout, could skillfully and quickly analyze a financial report.

He, like Dow, was committed to reporting on Wall Street without bias. Other reporters could be bribed into reporting favorably on a company to drive up stock prices.

Dow and Jones refused to manipulate the stock market. The two young men believed that Wall Street needed another financial news dow jones guide to the world stock market index. The business' headquarters was located in the basement of a candy store. Charles Bergstresser was argentina forex reserves chief financier of the fledgling company, prime dune option call chose to be a silent partner.

Jones once remarked that he could make a wooden Indian talk and tell the truth. In Novemberthe company started putting out an afternoon two-page summary of the day's financial news called the Customers' Afternoon Letter.

It soon achieved a circulation of over 1, subscribers and was considered an important news source for investors. It included the Dow Jones stock average, an index that included nine railroad issues, one steamship line, and Western Union. Inthe company had 50 employees.

The partners realized that the time was right to transform their two-page news summary into a real newspaper. The first issue of The Wall Street Journal appeared on July 8, It cost two cents per issue or five dollars for a one-year subscription. Dow was the editor and Jones managed the deskwork.

The paper gave its readers a policy statement: It will aim steadily at being a paper of news and not a paper of opinions. The paper had a private wire to Boston and telegraph connections to Washington, Philadelphia, and Chicago. It also had correspondents in several cities, including London. Dow often warned his reporters about exchanging slanted stories for stock tips or free stock. Crusading for honesty in financial reporting, Bursa malaysia exchange holidays 2012 would publish the names of companies that hesitated to give information about profit and hi point 9mm parts for sale. Soon after that, the newspaper gained power and respect from the reading public.

Vermont Roystera later editor of the Wall Street Journalsaid Dow always believed business information was not the "private province of brokers and tycoons". Inthe Wall Street Journal put out its first morning edition. The paper now covered more than just financial news.

It also covered war, which it reported without rhetoric [ citation needed ]unlike many other papers. Edward Jones retired inbut Dow and Bergstresser continued working. Dow still wrote editorials, now focusing on the place that government held in American business. The Wall Street Journal set a precedent in reporting during the election a h forex pvt ltd by endorsing cibc foreign exchange rates canada political candidate, the incumbent president William McKinley.

In the s, Dow saw that the recession was ending. Inmany mergers began taking place, resulting in the formation of huge corporations.

These corporations sought markets for their stock shares. The wildly speculative market meant investors needed information about stock activity.

Dow took this opportunity to devise the Dow Jones Industrial Average in By tracking the closing stock prices of twelve companies, adding up their stock prices, and dividing by twelve, Dow came up with his average. The first such average appeared in the Wall Street Journal on May 26, The industrial index became a popular indicator of stock market activity. Inthe company created an average for railroad stocks.

Factiva | Global News Database & Licensed Content - Dow Jones

Dow also developed the Dow theorywhich stated that a relationship existed between stock market trends and other business activity. Dow felt that if the industrial average and the railroad average both moved in the same direction, it meant that a meaningful economic shift was occurring.

He also concluded that if both indexes reached a new high, it signaled a bull market was under way. Dow did not believe that his ideas should be used as the only forecaster of market ups and downs.

DJIA - Dow Jones Industrial Average - CNNMoney

He thought they should be only one tool of many that investors used to make business decisions. InDow began to have health problems and Bergstresser wanted to retire.

The two sold their shares of the company to Clarence Barrontheir Boston correspondent.

Dow wrote his last editorial in April About eight months later, on December 4,he died at his home at Lefferts Place, BrooklynNew York, at the age of He is interred in North Burial Ground in Providence, Rhode Island.

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