DailyTimeCapsule brief
July 18, 1987
On July 18, 1987, the financial world marked a significant milestone as the Dow Jones Industrial Average closed for the first time above 2,500 points, reaching 2,503.12. This achievement signaled a period of economic growth and optimism in the United States, reflecting the effects of the Reagan administration's economic policies, which emphasized tax cuts, deregulation, and a focus on free-market principles. Meanwhile, the film industry saw the release of 'Jaws: The Revenge,' the fourth installment in the iconic shark franchise. Although the film did not garner the acclaim of its predecessors, it continued the legacy of the original 'Jaws' from 1975, which had profoundly impacted American cinema and culture. This day epitomized a blend of cultural and economic developments, highlighting a nation increasingly oriented towards prosperity and entertainment, amidst the backdrop of the Cold War tensions with the Soviet Union.
Key developments
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Released in 1987, 'Jaws the Revenge' is the fourth installment of the iconic Jaws series, following the notorious great white shark as it inexplicably tracks down the widow of former sheriff Martin Brody to the Bahamas. Critics noted the film's lackluster plot and predictable storyline, highlighting its overly reverent tone towards the franchise's legacy. Despite its shortcomings, the film's tropical setting and attempts at a familial narrative offered a different backdrop compared to its predecessors, though it ultimately failed to resonate with audiences and critics alike.
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Dow Posts First Close Above 2,500
