Why you should care about that new Dow record

[...] when it comes to your finances, the new record high for the Dow Jones industrial average will probably have zero impact.

The Dow index, a symbol of investor euphoria and despair for decades, climbed to a new high close on Tuesday — 18,347.67.

Since the last record on May 19 last year, the Dow has had to endure a sharp economic slowdown in China, a devaluation in that country's currency, slumping corporate earnings and, mostly recently, the vote by the Britain to leave the European Union.

Here is a look at the widely watched gauge, its venerable history stretching back over a century and why we still care about it after all these years.

The index comprises 30 big company stocks chosen to represent a broad selection of industries.

The industrial giant dropped out of the average for brief spells but returned for good in 1907.

[...] a $1 move in Cisco Systems, which traded Tuesday at $29.61, means a lot more to investors than a $1 move in 3M shares, which closed at $179.16.

Companies with biggest overall value on the stock market — their stock price multiplied by all their shares— have the biggest impact moving the index.