Learn what happened in business in today’s past
1995: Wall Street is in what a trader at Furman Selz calls a jubilant, boisterous mood as Alan Greenspan tells Congress that he sees no need for the Fed to raise interest rates. Less than four years after it broke the 3000 mark, the Dow Jones Industrial Average closes above 4000 for the first time, finishing the day at 4003.33. The Wall Street Journal declares the next day: Stocks Cross 4000 for the First Time, But the Visit There May Be Brief, and warns that a correction is now inevitable.
John A. Prestbo, ed., The Markets Measure: An Illustrated History of America Told through the Dow Jones Industrial Average (Dow Jones, New York, 1999), p. 98; http://averages.dowjones.com
1965: Michael Dell is born. He later drops out of the University of Texas at Austin to found Dell Computer Corp. with the radical idea of assembling made-to-order computers.