Dow Jones Industrial Average
Dow Jones is a combination of business partners Charles Dow and Edward Jones’ names. Dow Jones & Company was created in 1882 by Dow, Jones, and Charles Bergstresser. That firm subsequently became a part of News Corp, and it now publishes The Wall Street Journal, among other things.
Dow Jones & Company
Dow Jones & Company, Inc. is a News Corp-owned American publishing company run by CEO Almar Latour. Three reporters, Charles Dow, Edward Jones, and Charles Bergstresser, formed the firm in 1882. The Wall Street Journal, Barron’s, MarketWatch, Mansion Global, Financial News, and Private Equity News are all published by the firm. Previously, it issued the Dow Jones Industrial Average.
Charles Henry Dow
Charles Henry Dow (November 6, 1851 – December 4, 1902) was a writer in the United States who co-founded Dow Jones & Company with Edward Jones and Charles Bergstresser. Dow also co-founded The Wall Street Journal, which has grown to become one of the world’s most recognized financial magazines. As part of his studies on market movements, he also established the Dow Jones Industrial Average.
He devised a set of ideas for understanding and interpreting market activity that became known as Dow theory, which served as the foundation for technical analysis. Charles Henry Dow was born on November 6, 1851, in Sterling, Connecticut. His farming father died when he was six years old. The family resided in the hills of eastern Connecticut, close to the border with Rhode Island.
Dow had no schooling or expertise, but at the age of 21, he found employment with the Springfield Daily Republican in Massachusetts. From 1872 until 1875, he worked as a city reporter for Samuel Bowles, who trained his reporters how to write concise, thorough pieces. Dow subsequently relocated to Rhode Island, where he worked as a night editor for the Providence Star for two years.
He also worked as a reporter for the Providence Evening Press. Dow joined the staff of the prestigious Providence Journal in 1877. The editor, George W. Danielson, did not want to recruit the 26-year-old, but Dow would not accept no for an answer. Danielson reconsidered after discovering Dow had worked for Bowles for three years and offered Dow a position writing business articles.
Edward Davis Jones
Edward Davis Jones was born in Worcester, Massachusetts on October 7, 1856. Jones’s parents were of Welsh heritage, Reverend John Jones and Clarissa (née Day) Jones. Jones graduated from Worcester Academy and attended Brown University before leaving out in his junior year. Jones worked as a reporter for the Providence Morning Star and Evening Press after leaving Brown, when he met Charles Dow.
The Wall Street Journal, which is notable for the Dow Jones Industrial Average, was created in 1882 “in the basement of the New York Stock Exchange” by Jones and Charles Dow; Charles Bergstresser was a silent partner. Jones and Dow met while working as reporters in Providence, Rhode Island
Dow Jones & Company Overview
Also Read: S&P 500 nears first ‘golden cross’ in 2½ years, but this doesn’t guarantee more gains ahead
Charles Dow was well known for his ability to break down and convey to the general public what was often considered very convoluted financial information and news – this is one of the reasons why Dow Jones & Company is well known for their publications and transferring of important and sometimes difficult to understand financial information to people all over the world.
Nonetheless, Thomas F. Woodlock joined the three reporters in command of the organization. Following the death of co-founder Charles Dow, Dow Jones was purchased in 1902 by Clarence Barron, the premier financial writer of the day. Barron’s stepdaughters Jane and Martha Bancroft took over the firm after his death in 1928. Until 2007, when News Corporation acquired the corporation after a prolonged takeover fight, the company was managed by the Bancroft family, who effectively held 64% of the voting shares.
The firm was later acquired by News Corporation. After a protracted period of uncertainty concerning shareholder consent, the deal was declared successful on August 1, 2007, with the transaction completed on December 13, 2007. It was valued at $5 billion, or $60 per share, and gave News Corp control of The Wall Street Journal, ending the Bancroft family’s 105-year ownership.
The Dow Jones Industrial Average and associated market figures, Dow Jones Newswire, and a variety of financial magazines were the company’s most well-known products. The Dow Jones Indexes division was sold to the CME Group in 2010, and the company shifted its emphasis to financial news publications, notably its flagship journal The Wall Street Journal, and financial news and information solutions for financial firms.
Dow Jones CEO William Lewis announced his retirement in April 2020, following almost six years in the post. On May 7, 2020, News Corp stated that Almar Latour will take over as CEO on May 15, 2020.
1. The consumer media
The Wall Street Journal, its flagship publication, is a daily newspaper in print and online that covers commercial, financial, national, and international news and topics from around the world. It first appeared on July 8, 1889. The Journal is available in 12 languages, including English, Chinese, Japanese, German, Spanish, Portuguese, Bahasa, Turkish, and Korean. The Journal is the recipient of 35 Pulitzer Prizes for excellent journalism.
Dow Jones also publishes Barron’s Magazine, a monthly survey of the global economy and markets, MarketWatch, an online financial news site, and Investor’s Business Daily, a newspaper and website covering the stock market, international business, finance, and economics. Financial News covers investment banking, securities, and asset management news. BigCharts is a service given by MarketWatch’s Virtual Stock Exchange Games that contain stock charts, screeners, interactive charting, and research tools.
Professor Journal is a “Journal” in education that instructors may include into their curriculum. Dow Jones established Moneyish, a lifestyle and personal finance website geared towards millennial readers, in 2017. Dow Jones also ran Heat Street, a February 2016 online news and commentary website that was ultimately integrated into MarketWatch. Far Eastern Economic Review, a monthly magazine, ceased publication in September 2009.
Do You Know About Charles Dow? If Not Read This Article.
2. Enterprise media
Dow Jones provides financial news and information products and services to business and financial markets customers. Dow Jones has over 20 products that integrate information and technology to aid decision-making, including:
3. Dow Jones Newswires
Dow Jones Factiva, a database that offers a curated foundation for making judgments about organizations, issues, and individuals via search results, alerts, newsletters, and visualizations; Dow Jones FX Select, in 13 languages, provides real-time, breaking global FX news, professional trend analysis, and in-depth policy commentary.
Dow Jones VentureSource offers data on venture-backed firms to assist in the identification of transaction and partnership prospects, the performance of complete due diligence, and the examination of trends in venture capital investment, fund-raising, and liquidity.
Private Equity Analyst, provides insight and breaking news on events in fund-raising, investment, transaction financing, liquidity, returns, and CEO movements; Dow Jones Risk & Compliance provides material on risk management, regulatory compliance, and corporate governance for Anti-Corruption, Anti-Money Laundering, and Payments and Sanctions.
Stock market indices
The CME Group purchased 90% of the Dow Jones Indexes division in 2010. S&P Dow Jones Indexes LLC, a joint venture between S&P Global, the CME Group, and News Corp, has been producing, maintaining, licensing, and marketing stock market indices since 2012.
These indexes include:
- The Dow Jones Industrial Average, one of the most extensively used stock market indexes in the United States, monitors the stock performance of 30 significant corporations.
- Transportation Average, the longest-running stock index
- Utility Average, which tracks the performance of 15 major utility firms in the United States.
- Global Indexes is a worldwide equity index family.
- Dow Jones Composite Index, which tracks 65 significant corporations
- The Dow Jones Global Titans 50 index.
Do You Know About Edward Jones? If Not Read This Article.