Follow stories on Wall Street and the stock and bond markets, primarily the New York Stock Exchange, the Dow Jones Industrials, S&P 500, NASDAQ and foreign exchanges such as FTSE. Topics include 401(k) accounts and mutual funds; investment firms such as Fidelity or Russell Investments; commodities and precious metals such as gold; and oversight by the Security and Exchange Commission.

Why Dow 30,000 is no reason to celebrate

A trader at the New York Stock Exchange works at his terminal, Tuesday, November 24, 2020. The Dow Jones Industrial Average traded above 30,000 points for the first time as investors were encouraged by the latest progress on developing coronavirus vaccines and news that the transition of power in the U.S. to President-elect Joe Biden will finally begin. (Nicole Pereira/NYSE via AP) NYR104 NYR104

It’s not just that the Dow is an outdated benchmark that’s more famous than useful, it’s that the market reflects what’s happening with the economy and public companies, not what’s going on in your life, writes financial columnist Chuck Jaffe.

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