Not so fast: A key market benchmark hasn't hit a record yet and here's the one reason why

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Blame, for the most part, rests on Boeing, as the troubled aircraft manufacturer has been a huge drag on the blue chip index.

As such, when most folks on the street — lowercase "s" as opposed to that other "Street" where the market action happens — talk about the "market," it's the Dow to which they are referring.

"Most people understand the Dow. They're brought up with it," said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, which oversees the composition of both market measures. "The Dow was the major index, and it still is from a PR point of view."The most obvious is composition — the S&P 500, as its name implies, is made up of 500 of the biggest companies in the U.S.

 

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