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
Utah woman missing for nearly a week from central California
SALT LAKE CITY — A Utah woman has been reported missing for nearly a week from a county in central California.
The Santa Cruz County Sheriff’s Office said Danielle Staley, 35, of Holladay, was last seen near Rio Del Mar State Beach last Thursday night, Nov. 6.
She stands about 5-foot-6, with blond hair, and was last seen wearing a dark hooded sweatshirt and leopard-print leggings, police said.
According to Zach West, spokesperson for the sheriff’s office, Staley had been traveling with a friend for over a month — the pair arrived in the Santa Cruz area, near Aptos Beach in Rio Del Mar about a week ago.
On the night of Nov. 6, about 11:30 p.m., Staley and her friend had met some people at the beach and had a bonfire; the friend somehow separated from the group, and Staley couldn’t be found the next day, though her belongings were still on the beach, West said.
The woman hasn’t had contact with her family or friends, which West said was “out of character for her.”
Detectives are trying to piece together and identify others who were at the beach; they are also working with local businesses to scour surveillance footage that may present some clues, according to West.
He said numerous people have called claiming to have seen Staley, and detectives intend to follow up on those tips.
As of now, police said they don’t have any indication that she has traveled outside of the county, so the Santa Cruz Sheriff’s Office is the only agency investigating right now.
Staley’s friend is said to be cooperating with police.
Those with information are asked to call the Santa Cruz Sheriff’s Office at 831-471-1121.
California
Thousands advised to stay indoors in California, Oregon, Arizona
Parts of three states face potentially unhealthy levels of air pollution early Wednesday, a live map from AirNow shows.
The map shows multiple pockets of fine particle (PM2.5) pollution in the “unhealthy” category. In Arizona, the pocket is centered around Payson, while another area is located along the border between California and Oregon, encompassing parts of Red Rock Valley, Butte Valley, Tule Lake National Wildlife Refuge, Langell Valley, Spring Lake Valley, and areas around Klamath Falls.
At these air-quality levels, the Environmental Protection Agency advises that sensitive groups avoid long or intense outdoor activities and consider moving or rescheduling them indoors. The EPA also recommends the remainder of the population to reduce long or intense activities, and to take more breaks during outdoor activities.
Why It Matters
Officials and experts say that deteriorating air quality heightens health risks for vulnerable populations, such as older adults, children and individuals with respiratory illnesses.
What To Know
AirNow—an air quality data resource—is a partnership between the EPA, National Oceanic and Atmospheric Administration, and other agencies.
The Air Quality Index measures air pollution on a scale from 0 to 301 and above:
- 0—50 (Green): Good—Air quality is satisfactory, and air pollution poses little or no risk.
- 51—100 (Yellow): Moderate—Air quality is acceptable. However, there may be a risk for some people, particularly those who are unusually sensitive to air pollution.
- 101—150 (Orange): Unhealthy for Sensitive Groups—Members of sensitive groups may experience health effects. The general public is less likely to be affected.
- 151—200 (Red): Unhealthy—Some members of the general public may experience health effects; members of sensitive groups may experience more serious health effects.
- 201—300 (Purple): Very Unhealthy—Health alert. The risk of health effects is increased for everyone.
- 301 and higher (Maroon): Hazardous—Health warning of emergency conditions. Everyone is more likely to be affected.
What People Are Saying
The EPA says on its website: “The size of particles is directly linked to their potential for causing health problems. Small particles less than 10 micrometers in diameter pose the greatest problems, because they can get deep into your lungs, and some may even get into your bloodstream.
“Exposure to such particles can affect both your lungs and your heart. Numerous scientific studies have linked particle pollution exposure to a variety of problems, including:
- premature death in people with heart or lung disease
- nonfatal heart attacks
- irregular heartbeat
- aggravated asthma
- decreased lung function
- increased respiratory symptoms, such as irritation of the airways, coughing or difficulty breathing.
“People with heart or lung diseases, children, older adults, minority populations, and low socioeconomic status populations are the most likely to be affected by particle pollution exposure, either because they are more sensitive or may have higher exposures.”
What Happens Next
AirNow’s map is regularly updated.
Update, 11/12/2025, 5:01 a.m. ET: This article was updated with additional information.
California
California Upsets No. 14 Louisville Cardinals in Overtime Thriller
California traveled to Louisville, Ky., in search of a statement win against the No. 14 Louisville Cardinals (7-2, 4-2 ACC), and the Golden Bears (6-4, 3-3 ACC) pulled out all the stops Saturday evening to earn the upset, 29-26, in overtime.
On the first play of the game, California quarterback Jaron-Keawe Sagapolutele threw a lateral to his slot receiver, Jacob de Jesus, who then connected with Trond Grizzell on a deep 27-yard pass. While the Golden Bears would not score on the drive, their fast and aggressive play early on silenced much of the 51,381 in attendance.
California out-gained Louisville in total yards and offensive plays throughout the entire game. The Golden Bears never once trailed the nationally ranked Cardinals by more than one score, despite entering the game as three-score underdogs, according to many sportsbooks’ odds.
Sagapolutele earned the game-winning touchdown in overtime with a nail-biting throw on fourth down. California’s first-year signal-caller found his favorite target of the evening, de Jesus, who brought in the three-yard reception to close out the game.
De Jesus had a game-high 157 receiving yards and hauled in 16 of 23 passes in which he was targeted. His 16 receptions tie Geoff McArthur’s school record for receptions by a receiver in a single game.
In his post-game press conference, Louisville head coach Jeff Brohm praised de Jesus, calling him California’s “best player.”
“… Even at the end, to allow their best player to be one-on-one for an easy throw in the corner… you know, we need to coach better; we need to play better,” Coach Brohm said.
Sagapolutele completed 30 out of 47 passes attempted and racked up 323 passing yards—both career highs. In addition to the game-decider, the quarterback threw his first touchdown of the game in the first quarter, a 20-yard bomb to tight end Landon Morris.
The last time California beat a nationally ranked, top-25 team was on Dec. 5, 2020, when the Golden Bears upset the No. 20 Oregon Ducks, 21-17, for their first win in the 2020 college football season.
With the win, California is now eligible for a post-season bowl bid.
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