Dow Jones Industrial Average

In 1882, journalist Charles Dow and his business partner Edward Jones, a statistician, founded Dow Jones & Company.

In 1884, they created the first stock average featuring 11 stocks, mostly railroads, which later became the Dow Jones Transportation Average. It was published in his newsletter, Customer's Afternoon Letter, a daily two-page financial news bulletin which was the precursor to The Wall Street Journal. On February 16, 1885, the Dow Jones Average (DJA) launched as a 14-stock index. On January 2, 1886, the number of stocks represented in what is now the Dow Jones Transportation Average dropped from 14 to 12, as the Central Pacific Railroad and Central Railroad of New Jersey were removed. On May 26, 1896, the Dow Jones Industrial Average debuted with 12 industrial stocks at a starting value of 40.94.