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
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.
[RELATED] X faces possible fines as EU probes Grok nonconsensual, sexualized deepfakes
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.
California
California bill to bar police from taking second job with ICE advances in state Assembly
Wednesday, March 4, 2026 4:43AM
SACRAMENTO, Calif. (KABC) — A bill that would prevent police officers from moonlighting with federal immigration enforcement agencies, such as U.S. Immigration and Customs Enforcement, is advancing through the California State Assembly.
AB 1537 passed the State Assembly’s committee on public safety on Tuesday.
The bill also requires that officers report any offers for secondary employment related to immigration enforcement to their place of work.
Those failing to comply could face decertification as a peace officer in California.
The bill was introduced by Assemblymember Isaac Bryan, whose district includes Mar Vista, Ladera Heights, Mid-Wilshire and parts of South Los Angeles.
Copyright © 2026 KABC Television, LLC. All rights reserved.
California
Can’t win in primary election? Drop out, California Democrats say
Newsom slams Trump amid U.S. military action in Iran
Newsom criticized Trump for spending little time acknowledging four U.S. service members killed in the conflict with Iran during recent remarks.
California Democrats running for governor, your party has a message for you. Think carefully about your candidacy and campaign ahead of the swiftly approaching filing deadline.
California Democratic Party Chair Rusty Hicks urged candidates looking to assume the state’s highest office to “honestly assess the viability of their candidacy and campaign” as March 6, the final day to declare candidacy, nears. Hicks said that concerns about the crowded field of Democrat candidates “persist” in an open letter on Tuesday, March 3.
It comes as five leading candidates, several of which are Democrats — Katie Porter, Eric Swalwell, and Tom Steyer — are in a “virtual tie” per a recent poll, the Desert Sun reported, which is part of the USA TODAY Network.
Two Republican candidates pushing out California democrats in the gubernatorial bid may be “implausible,” but “it is not impossible,” Hicks said of the reasoning behind his latest message. Steve Hilton and Riverside County Sheriff Chad Bianco, both Republicans, lead in RealClear Polling’s average of various polls.
The party chair spotlighted the need for California Democrats’ leadership, particularly over Proposition 50, the voter-approved measure that will temporarily implement new congressional district maps, paving the way for Democrats to secure more seats in the U.S. House of Representatives.
“If in the unlikely event a Democrat failed to proceed to the general election for governor, there could be the potential for depressed Democratic turnout in California in November,” Hicks said. “The result would present a real risk to winning the congressional seats required and imperil Democrats’ chances to retake the House, cut Donald Trump’s term in half, and spare our nation from the pain many have endured since January 2025.”
During a press conference on March 2, Gov. Gavin Newsom said that when he is out in communities, people aren’t talking about the governor’s race. It’s an observation he called “interesting,” considering voting in the primary election starts in May.
“It’s been hard, I think, to focus on that race,” Newsom said, pointing to the attention on President Donald Trump, redistricting, and other matters.
What exactly is California Democratic Party asking of candidates?
In his open letter, Hicks gave directions to candidates.
First, assess your candidacy and campaign. If you don’t have a viable path to the general election, don’t file to get your name on the ballot for the primary election in June. Also, be prepared to suspend your campaign and endorse another candidate by April 15 if you decide to file but can’t show “meaningful progress towards winning the primary election.”
When is the next California election? Primary election in 2026
California voters will trim the field of candidates for governor on June 2. Only the two candidates who receive the most votes, regardless of party preference, will move on to the November election.
Paris Barraza is a reporter covering Los Angeles and Southern California for the USA TODAY Network. Reach her at pbarraza@usatodayco.com.
-
World7 days agoExclusive: DeepSeek withholds latest AI model from US chipmakers including Nvidia, sources say
-
Massachusetts1 week agoMother and daughter injured in Taunton house explosion
-
Denver, CO1 week ago10 acres charred, 5 injured in Thornton grass fire, evacuation orders lifted
-
Louisiana1 week agoWildfire near Gum Swamp Road in Livingston Parish now under control; more than 200 acres burned
-
Florida4 days agoFlorida man rescued after being stuck in shoulder-deep mud for days
-
Wisconsin3 days agoSetting sail on iceboats across a frozen lake in Wisconsin
-
Maryland4 days agoAM showers Sunday in Maryland
-
Oregon5 days ago2026 OSAA Oregon Wrestling State Championship Results And Brackets – FloWrestling