The Dow Jones industrial average passed 14,164.53 today. That’s its highest reading ever. Huzzah!
Or not. That number doesn’t adjust for inflation. As CNBC’s Jeff Cox writes, “in inflation-adjusted dollars, the Dow would need to hit 15,731.54 to break the record.” In fact, in inflation-adjusted terms, the Dow is still well below it’s 2000 high.