California
Dow Jones stock index crosses 40,000: Good or bad for California?
The stock market’s venerable yardstick, the Dow Jones Industrial Average, just made history – crossing 40,000 for the first time.
Yes, this milestone set Thursday, May 16, is only a brief emotional victory for shareholders. Yet it can be seen as a historical milepost for the broader business climate, especially in California.
To honor the moment, the trusty spreadsheet reviewed the Dow’s 5,000-point markers and how California fared in those periods using an economic metric (California unemployment), an interest rate (the average 30-year fixed mortgage), and home prices from the California Association of Realtors.
As we begin our data-filled voyage, let’s note the Dow first crossed 5,000 in November 1995 — back when you could buy the median-priced California single-family home for $176,000.
5,000-point mileposts
Dow passes 10,000 in December 1999: It took the stock index just over four years to double from 5,000 compared with a 28% gain for California homes to $225,000 in the same timeframe. This was an era when the economy broke loose from its early 1990s slumber. California unemployment dipped between 1995 and 1999 to 5% from 7.9% while mortgage rates rose to 7.9% from 7.4%.
15,000 in May 2013: The Dow needed more than 13 years to gain 50% to hit this benchmark vs. an 85% surge for homes statewide to $417,000 in the same period. This extended gap came during the financial rollercoaster ride from the bubble period in the early 2000s bursting into a Great Recession and then the economy’s slow recovery. So, California unemployment was 9.2%, up from 5% at the beginning of this crazy period. Yet, cheap money was one salve: 3.5% mortgages vs. 7.9% in 1999.
20,000 in January 2017: The Dow took under four years to gain 33% to gain the next 5,000 while homes statewide gained 18% to $492,000 as the post-crash rebound continued. California unemployment fell to 5.2% from 9.2% as mortgage rates ticked up to 4.2% from 3.5% in 2013.
25,000 in January 2018: The Dow needed just one year to gain 25% for its next benchmark vs. a 7% gain for California homes to $528,000 as the recovery hit full stride. California unemployment dipped to 4.4% from 5.2% while mortgage rates slipped to 4% from 4.2% in 2017.
30,000 in November 2020: The index took just under three years to gain 20% vs. 32% for California homes to $699,000 in the middle of the pandemic’s business wild gyrations. California unemployment surged to 9% from 4.4% – but investors cheered historically cheap money such as mortgages hitting 2.8%, falling from 4% in 2018.
35,000 in July 2021: It took the Dow less than a year to gain 17% vs. 16% appreciation for California homes to $811,000 as the pandemic’s economic surge was in full force. Statewide unemployment fell to 7.4% from 9% and mortgages remained cheap – 2.9% vs. 2.8% in 2020.
40,000 in May 2024: The Dow took almost three years to gain 14% vs. an 11% gain for California homes to a record $904,000 in April. The economy struggles to find its new normal as statewide unemployment fell to 5.3% in April from 7.4%. But mortgages got expensive as the Federal Reserve fought and overheated economy – 7% in April from 2.9% in 2021.
Bottom line
So, the Dow is up eight-fold since crossing 5,000 just over 28 years ago. California homes are only five times more expensive.
That’s not the point, though. This stroll down memory lane reminds us that the markets typically need a solid economy for stocks or homes to appreciate. Cheap money is the icing on the cake.
Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com
California
Signs of spring blooming at Antelope Valley California Poppy Reserve after wet, warm winter
It’s beginning to look a lot like spring!
The warm and wet weather this winter has led to the start of a dazzling super bloom at the Antelope Valley California Poppy Reserve.
“We had an unseasonably warm winter as well, so there’s actually a lot of growth,” said Callista Turney with California State Parks. “We’re having early wildflowers that are already at the park. So if you look at the poppy live cam, it shows a lot of orange already.”
The rain has helped the early blooms, but it’s actually the heat that accelerated the growth of the flowers.
“It will actually speed up the growth of the plants, so some of them were already blooming and that’s going to cause those blossoms to accelerate faster towards seed production. And the blossoms that are in the process of being formed, those are going to open up soon as well.”
We also sometimes see great super blooms in Death Valley National Park, Anza-Borrego Desert State Park, Joshua Tree and the Mojave National Preserve.
“It’s definitely a rare occurrence because we don’t always have the right conditions. It’s gotta be the weather, the wind, the rain, all coming together,” said Katie Tilford, Director of Development and Communications with the Theodore Payne Foundation.
If it continues to stay unseasonably warm, we’ll see a shorter bloom. The key to a longer season is milder weather.
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California
Republican governor candidate Chad Bianco says he’s the ‘antithesis to California state government’
We are counting down to the California governor’s race. Chad Bianco, the sheriff of Riverside County, is one of the two biggest names running on the Republican ticket.
In a one-on-one interview with Eyewitness News political reporter Josh Haskell, Riverside County Sheriff Chad Bianco said, “I am the antithesis to California state government because I am going to take a nuclear bomb into that building and absolutely destroy everything that they do to us behind closed doors.”
Although he’s been elected by the voters twice, Bianco says he’s not a politician — which is why he believes his campaign for California governor is resonating, as reflected in the polls.
“President Trump, in one year, from 2025 when he took over, until now, did absolutely nothing to harm California. What’s harming California is 30 years of Democrat one-party rule that have created an environment here that no one can live in anymore. They’ve only been successful here in California because we vote D no matter what. You vote D or die. I mean, that’s it. Charles Manson would be elected in California if he was the only Democrat on the ballot,” Bianco said.
Bianco isn’t the only conservative Republican running for governor, and according to polling, he’s neck-and-neck with former Fox News host Steve Hilton.
SEE ALSO: CA governor candidate Steve Hilton says ‘everybody supports’ Trump’s immigration policies
Leading in some polls in the wide-open California Governor’s race as the June primary creeps closer is Republican and former Fox News host Steve Hilton.
“Steve has no chance of winning in November. The Democrats know that I’m going to win in November, and so they have to do everything they can to keep me out of that,” Bianco said.
When asked about the affordability crisis in the state, Bianco said, “Almost the entire issue of affordability in California is because of regulation, excessive regulation imposed by government. Every single regulation can be signed away with the governor’s signature.”
“It is a drug and alcohol addiction problem that, and a mental health problem,” he said about the homelessness crisis. “Every single bit of money that is going to these nonprofits that say ‘homeless,’ zero money. You’re getting absolutely nothing. I can’t tell you that we would end what we see in the homeless situation within a year, but I guarantee you we would never see it again after two years.”
When challenged on that prediction, pointing to how the state doesn’t have the facilities to treat the number of people living on our streets, Bianco responded, “We have been conditioned to believe that buildings take five years to build. It takes 90 days or less to build a house, but in California, it takes three to five years because the government won’t allow it. The regulations that are destroying this state are going to be removed with me as the governor.”
Bianco also said California jails shouldn’t have to play the role of treatment facilities.
Although he says he supports the Trump administration and wants the president’s endorsement, Bianco has been traveling the state — meeting not just with Republicans, but Democrats and independents as well. He says all of our state government officials have failed.
The primary election is June 2.
No clear front-runner in race for California governor, new poll shows
A new poll shows there’s still no clear front-runner in the race to replace Gov. Gavin Newsom.
Copyright © 2026 KABC Television, LLC. All rights reserved.
California
PlayOn Sports fined $1.1 million by California watchdog over student data violations
SACRAMENTO, Calif. (FOX26) — California’s privacy watchdog has ordered PlayOn Sports to pay a $1.10 million fine and change how it handles consumer data after finding the company’s practices violated state law in ways that affected students and schools in the state.
The California Privacy Protection Agency Board issued the decision following a settlement reached by CalPrivacy’s Enforcement Division.
The decision is the first by the board to address privacy violations involving students and California schools.
Schools across the country use PlayOn Sports’ GoFan platform to sell digital tickets to high school sporting events, theater performances, and homecoming and prom dances, with attendees presenting tickets at the door on their mobile phones.
Schools also use PlayOn Sports’ platforms for other sports-related activities, including attending games, streaming them online, and looking up statistics about teams and players.
In California, about 1,400 schools contract with PlayOn Sports for these services.
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GoFan is also the official ticketing platform for the California Interscholastic Federation, the governing body for high school sports.
According to the board’s decision, PlayOn Sports used tracking technologies to collect personal information and deliver targeted advertisements to ticketholders and others using its services.
The company allegedly required Californians to click “agree” to tracking technologies before they could use their tickets or view PlayOn Sports websites, without providing a sufficient opt-out option.
“Students trying to go to prom or a high school football game shouldn’t have to leave their privacy rights at the door,” said Michael Macko, CalPrivacy’s head of enforcement. “You couldn’t attend these events without showing your ticket, and you couldn’t show your ticket without being tracked for advertising. California’s privacy law does not work that way. Businesses must ensure they offer lawful ways for Californians to opt-out, particularly with captive audiences.”
The decision also describes students as a uniquely vulnerable population and warns that targeted advertising systems can subject students to profiling that can follow them for years, expose them to manipulative or harmful content, and develop sensitive inferences about their lives.
Instead of providing its own opt-out method, PlayOn Sports directed students and other users to opt out through the Network Advertising Initiative and the Digital Advertising Alliance, which the decision said violated the company’s responsibility to provide its own way for consumers to opt out. The company also allegedly failed to recognize opt-out preference signals and did not provide Californians with sufficient notice of its privacy practices.
“We are committed to making it as easy as possible for all Californians — from high school students to older adults, and everyone in between — to make the choice of whether they want to be tracked or not,” said Tom Kemp, CalPrivacy’s executive director. “Californians can opt-out with covered businesses, and they can sign up for the newly launched DROP system to request that data brokers delete their personal information.”
Beyond the $1.10 million fine, the board’s order requires PlayOn Sports to conduct risk assessments, provide disclosures that are easy to read and understand, and implement proper opt-out methods.
The order also requires the company to comply with California’s privacy law prohibiting the selling or sharing of personal information of consumers between 13 and 16 without their affirmative opt-in consent.
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