Widely Followed Benchmark Reflects Strongest
Overall Market Since March 2000
Six of Ten Sectors Break Record Highs
NEW YORK, Feb. 20, 2007 (PRIME NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, and Wilshire Associates Inc., a global leader in investment technology, investment consulting and investment management, announced that the Dow Jones Wilshire 5000(sm), the most comprehensive measure of the U.S. stock market, today closed at a new record high. The Dow Jones Wilshire 5000 reached its previous highest close of 14751.64 on March 24, 2000, a time when crude oil was trading at $32.19/barrel, Angelina Jolie was two days away from winning an Academy Award for "Girl, Interrupted" and the dot com bubble was about to burst.
On Tuesday, February 20, 2007, the Dow Jones Wilshire 5000 closed at 14,796.54, up 3.78% year-to-date and 44.9 points (0.3%) above its record March 2000 close. Six of the ten underlying Dow Jones Wilshire sector indexes also reached record highs recently, including:
* Oil and gas on December 14, 2006
* Basic materials on May 9, 2006
* Consumer goods on January 24, 2007
* Utilities on January 14, 2007
* Consumer services on January 24, 2007
* Financials on January 24, 2007
"This record high is a clear indication of overall market strength as captured by Dow Jones Wilshire 5000," says Michael A. Petronella, president of Dow Jones Indexes. "As the market continues to grow, so too does the need for greater index transparency and methodologies that allow investors to accurately and effectively measure investment performance."
"Though small-cap stocks have led the market resurgence, the new DJ Wilshire 5000 record close confirms how broad based the recovery has been," said Dennis A. Tito, chairman and chief executive officer of Wilshire Associates who originally developed the then-named Wilshire 5000 Total Market Index in the early 1970s. "The DJ Wilshire 5000 also recently doubled from its recent low close on October 9, 2002. Although five years is a long time to wait to break even, the climb, as saw-toothed as it has been, has been relatively steady."
Based on the Dow Jones Wilshire 5000, the market capitalization of the U.S. stock market now stands at a record $18.5 trillion.
The Dow Jones Wilshire 5000, the broadest measure of the U.S. stock market, is composed of all U.S. equity securities with readily available prices and employs a rules-based methodology.
About the Dow Jones Wilshire Index Family
The development of the global family of indexes marks a new phase of the Dow Jones-Wilshire relationship. The affiliation began in 2004 when Dow Jones and Wilshire co-branded and marketed the Dow Jones Wilshire family of indexes. Now, by extending the Dow Jones Wilshire methodology used in the U.S. internationally, the global indexes provide unprecedented breadth, consistent global coverage, and objective and transparent rules.
Float-adjusted capitalization-weighted versions of the Dow Jones Wilshire 5000, 4500, RESI and REIT indexes were launched on May 1, 2004. The large-, small- and micro-cap indexes, as well as growth and value indexes, were launched March 14, 2005. The top 10 industries, as defined by the Industry Classification Benchmark(sm) system, were first published in August 2005, followed by the lower ICB(sm) hierarchy levels December 2005.
Dow Jones Wilshire indexes are available on market-data vendor platforms -- many in real-time format -- and on the Dow Jones Indexes (www.djindexes.com) and Wilshire Associates (www.wilshire.com) Web sites. The Dow Jones Wilshire 5000 Composite Index(sm) is calculated and distributed by Dow Jones Indexes pursuant to an agreement between Dow Jones & Company and Wilshire Associates Incorporated. "Dow Jones" and "Wilshire" are the respective service marks of Dow Jones & Company, Inc. and Wilshire Associates Incorporated.
Journalists may e-mail questions regarding this press release to PR-Indexes@dowjones.com or contact Dow Jones Indexes/STOXX press office:
New York: +1-212-597-5720 Frankfurt: +49-69-29-725-290
To contact Wilshire Associates public relations, please e-mail kim.shepherd@wilshire.com or call: Chicago: Kim Shepherd, +1-312-762-5504.
Note to Editors:
About Dow Jones Indexes
A full-service index provider, Dow Jones Indexes develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best known for the Dow Jones Industrial Average, Dow Jones Indexes also is co-owner of the Dow Jones STOXX indexes, the world's leading pan-European indexes, and together with Wilshire Associates, provides the Dow Jones Wilshire Global Index family, which is anchored by the Dow Jones Wilshire 5000 and covers more than 12,000 securities in 59 markets. Beyond equity indexes, Dow Jones Indexes maintains a number of alternative indexes, including measures of the hedge fund and commodity markets. Dow Jones indexes are maintained according to clear, unbiased and systematic methodologies that are fully integrated within index families. www.djindexes.com
Dow Jones Indexes is part of Dow Jones & Company (NYSE:DJ) (www.dowjones.com), which is a leading provider of global business news and information services. Its Consumer Media Group publishes The Wall Street Journal, Barron's, MarketWatch and the Far Eastern Economic Review. Its Enterprise Media Group includes Dow Jones Newswires, Factiva, Dow Jones Licensing Services, Dow Jones Indexes and Dow Jones Financial Information Services. Its Local Media Group operates community-based information franchises. Dow Jones provides news content to CNBC and radio stations in the U.S.
About Wilshire Associates
Wilshire Associates is a leading global investment technology, investment consulting and investment management firm with four business units: Wilshire Analytics, Wilshire Funds Management, Wilshire Consulting, and Wilshire Private Markets. The firm was founded in 1972, revolutionizing the industry by pioneering the application of investment analytics and research to investment management for the institutional marketplace. Wilshire also is credited with helping to develop the field of quantitative investment analysis that uses mathematical tools to analyze market risks. All other business units evolved from Wilshire's strong analytics foundation.
Wilshire developed the index now known as the Dow Jones Wilshire 5000 Composite Index(sm), the first asset/liability models for pension funds, the first U.S. equity style metrics work and many other "firsts" as the firm grew to nearly 350 employees serving the investment needs of institutional and high net worth clients around the world.
Based in Santa Monica, CA, Wilshire provides services to clients in more than 20 countries representing in excess of 600 organizations with assets totaling more than $12.5 trillion. With nine offices on four continents, Wilshire Associates and its affiliates are dedicated to providing clients with the highest quality counsel, products and services. Please visit www.wilshire.com for more information.