DOW 21k in 4 weeks! Deja vu anyone?
May 3, 1999: 4:48 p.m. ET
Dow's eclipse of 11,000 in a month is fastest move past 1,000-point marker
NEW YORK (CNNfn) - It took just five weeks for the Dow Jones industrial average to get from 10,000 to 11,000 -- the fastest assault on a 1,000-point milestone so far by the world's most widely watched stock index.
The 115-year-old index, with a history that spans 20 U.S. presidents, six wars and 21 recessions, has now crossed nine 1,000-point milestones during this decade's bull market stampede and shows few signs of slowing down.
After making history by closing above 10,000 on March 29, the Dow raced past 11,000 on Monday. By contrast, it took the Dow a year to climb past the 10,000 mark after it first closed above 9,000 on April 6, 1998.
The fastest eclipse of a 1,000-point milestone before 11,000 was when the 30-share index topped 7,000 on Feb. 13, 1997, just four months after blowing past 6,000 on Oct. 14, 1996.
With the Dow's swift ascent, strategists and historians are debating whether the market has gone too far, too fast as they glance back at the ups and downs of the widely watched average.