Learn what happened in business in today’s past

 

November 17:

1999: For the first time, more than 1.5 billion shares change hands on the NASDAQ Stock Market in a single day, as the day's total volume hits 1.646 billion. That beats the record set only one day earlier by a full 150 million shares and marks the sixth time in just two weeks that NASDAQ has had one of its ten busiest days ever.

www.nasdaq.com

1995: The Standard & Poor's 500-stock index closes above 600 for the first time, finishing the day at 600.07.

David M. Blitzer, chief investment strategist, Standard & Poor's Corp.

1970: Stanford Research Institute (SRI) scientist Douglas Engelbart obtains U.S. Patent No. 3,541,541 for his "X-Y Position Indicator for a Display System," which we know today as the computer mouse.

http://www.bootstrap.org/chronicle/pix/pix.html; http://www.bootstrap.org/chronicle/chronicle.html

1929: President Calvin Coolidge declares that America is "entering upon a new era of prosperity." Although Coolidge may not be the first to use the words "new era," his remarks christen the bull market of the 1920s. In this "new era" market, declare many investors, you can't pay too much for a good stock; if you just wait long enough, it will make you rich. That works for a while. Then it stops working -- for more than a quarter of a century.

John Brooks, Once in Golconda: A True Drama of Wall Street, 1920-1938 (Harper & Row, New York, 1969), p. 90; Benjamin Graham and David L. Dodd, Security Analysis (McGraw-Hill, New York, 1934), pp. 307-316.