The Bull Market Turns 8 Years Old: Shocking News Headlines Then Versus Now

March 6, 2017 by Jon C. Ogg

2017 may feel like it has been a year of surprises. The reality is that 2017 is just a continuation of yet another year of surprises. What is amazing now is that the current bull market is now turning 8 years old. 24/7 Wall St. has decided to feature a then versus now, and it is important to recall that the attitude of the investing public is truly night and day.

Stocks have now hit all-time highs in 2017 in the Dow Jones Industrial Average, the S&P 500 Index, and even in the NASDAQ. Investors have bought after every single sell-off for over 5 years now, and those same investors are also looking for new ideas and overlooked opportunities.

The S&P 500 Index bottomed at 666.79 on March 6, 2009. That was at 2,376.75 on last look, up a whopping 256%.

The Dow Jones Industrial Average hit a low of 6,469.95 on March 6, 2009. After having hit 21,000  The Dow was last trading at 20,972 for a gain of 224%.

The NASDAQ hit a low of 1,265.52 on March 9, 2009, one trading day after the S&P and the Dow hit their lows. At about 5,850 on last look, that is a gain of 362%.

The 10-year Treasury yield on March 6, 2009 was at a low of 2.77% — yet that yield is 2.50% some 8 years later.

CNN’s closing bell title on March 6, 2009: Dow fights back… The blue-chip indicator musters a gain after hitting a 12-year low on the weak jobs report and bank woes.

Now think about something for March 6, 2009 — The BLS reported on that day that employers had cut a whopping 651,000 jobs from their payrolls in February of 2009. This coming jobs report is calling for close to a gain of 200,000.

It was also on March 6, 2008 that the BLS reported that unemployment rose to 8.1% from 7.6% the prior month — versus less than 5% now.

Also noted back on March 6, 2009:

  • GM’s survival was in doubt.
  • Citigroup shares broke the $1.00 mark.
  • GE shares hit $6.66 — they are $30 now.
  • Split-adjusted: Apple shares were at $12.9 on March 6, 2009 and were $11.87 the next day, versus $139 today.
  • Boeing shares dipped under $30 on March 6 and 9 (2009) — versus $180 now.
  • The Dow was down over 6% for the week, and was down almost 25% year-to-date.
  • The Dow was down 53% versus its all-time high on October 9, 2007.
  • Wells Fargo slashed its quarterly dividend by 85% to $0.05 from $0.34) to save $5 billion per year.
  • General Electric was just starting to bounce back from 18-year lows hit earlier in the week.
  • NYMEX crude was $45.52 per barrel on March 6, 2009– versus $53.25 in 2017.
  • COMEX gold was at $942.70 per ounce on March 6, 2009 — versus $1,227 in 2017.

Here are just some of the 24/7 Wall St. headlines grabbed around business coverage going into March of 2009 and in the days following the v-bottom:

  • AIG’s Plan To Bleed The Government Dry
  • Blackstone: 45% of the world’s wealth has been destroyed.
  • JPMorgan Chase All But Murders Its Dividend
  • When Stockpiling Gold Becomes Hoarding Gold
  • A Call for $3,000 Gold
  • United Technologies (UTX)  will cut 11,600 jobs.
  • RBS Loses $34 Billion: Banks Still Have Capacity To Surprise
  • Berkshire’s Annual Letter: Pain Yesterday, More Pain Tomorrow
  • Banker: “Take This TARP and Shove It”
  • (NYT) Some banks want to return government aid because of attached strings
  • Citigroup Shares Off 40% After Government Deal
  • Saving Private Ryan: Sending The Financial World To Save Eastern Europe
  • YouTube Passes 100 Billion Views A Month And No One Cares
  • A Solution For Troubled Newspapers And Magazines: Internet-Only Products
  • Roubini, From Doom To Less-Doom
  • The AIG “Save Us Or We Will Destroy You” Card
  • Jim Cramer Picks DJIA 5,320 As Absolute DJIA Bottom
  • Sirius XM Holders Get To Live Longer
  • Should The Market Ever Go Up 7% In A Day? (March 11)
  • Freddie Mac Burns Another $23.9 Billion
  • Ten Stocks That Should Double (GE, GCI, AAPL, YHOO, MSFT, COP, XOM, CVX, BP, CBS, SONC, M, C) (March 17)
  • Meredith Whitney’s Replacement at Oppenheimer Far Less Negative on Banks (March 17)
  • FOMC Massively Gooses Government Balance Sheet

Essential Tips for Investing: Sponsored

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.