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Quote of the Day

If I had asked people what they wanted, they would have said ‘faster horses.’

-Henry Ford

June 4th – This Day in Stock Market History

June 4th, 1896 – Henry Ford completes his first car, an experimental vehicle called the quadricycle.

Henry Ford's 1896 "Quadricycle" built on June 4th 1896.

Ford’s quadricycle weighed 500 pounds and had a top speed of 20 miles per hour.

Ford would sell his quadricycle for $200, in order to fund the construction of Ford’s next vehicle.

Ford would continue tinkering for another few years before founding Ford motor company 7 years later, on June 16th, 1903.

Source: https://www.thehenryford.org/collections-and-research/digital-collections/card/252049

June 4th, 1968 – The S&P 500 index closes above 100 for the first time.

However, it would not be the last time the index broke through the 100 point milestone:

Chart from MacroTrends

For more than a decade the index would periodically rise and fall above the 100 point level. It would not be until 12 years later, in 1980, when the index would permanently break above the 100 point milestone.

Best June 4th in Dow Jones Industrial Average History

1932 – Up 5.12%, 4.28 points.

Worst June 4th in Dow Jones Industrial Average History

2010 – Down 3.15%, 323.31 points.

Read of the Day

Go To Next Day: June 5th, 1883 – John Maynard Keynes is born. –>