Word: belle
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...Exchange opened on a solemn note, with two minutes of silence in honor of those who died in the terrorist attacks. The silence was followed by the singing of “God Bless America,” led by an officer of the Marine Corps, and the opening bell was rung by New York City rescue workers...
Until the bell actually rang, the reopening of the New York Stock Exchange on Monday - after its longest blackout since the "bank holidays" of the Depression - was hailed by every official personage, from President George W. Bush to New York Mayor Rudy Giuliani to NYSE chief Richard Grasso, as a victory for the capitalists over the terrorists...
...They have lost," Grasso said before the bell. Then maybe you had to wonder. Investors lopped 600 points off the Dow and 100 off the NASDAQ in under an hour, rolling both indexes back to lows nobody ever wanted to see again and very nearly wiping that relentless smile off Grasso?s face in the middle of his 10 a.m. press conference...
...often that Wall Street sells off 6 percent on a morning that Alan Greenspan cuts interest rates by 50 basis points before the bell, the ECB follows suit, and the SEC, looking to make sure somebody has a reason to buy, loosens its controls on companies buying back their own stock. But as pipe dreams of a patriot?s rally quickly went up in smoke, it became clear before long that this wasn?t going to be a coward?s panic either. The losses stabilized by late morning and actually bounced a bit off their lows before slipping again...
...Small Investor obeyed the wisdom of the day and stayed away so as to avoid being stampeded, they may not for long. And what was at least a Gray Monday could get blacker as the week goes on and selling begets pessimism and begets more selling. At the opening bell for Tuesday?s session it will only be a week since the financial world was blown up by some very determined men, and nobody knows yet how the globe, much less the global economy, will be affected...