Word: dow
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Dates: during 1970-1979
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Almost every American could count some gains for the year. Per capita personal income from such sources as wages, dividends, interest and rent rose from $3,620 to $3,821 at last count. Investors profited from the stock market's climb to new peaks; the Dow Jones industrial average, which started the year at 889, finally cracked the 1000 barrier and closed at 1020 (see box, page 52). The prices that farmers collected for their goods increased by about 15%, bringing delight in the farmhouse while raising howls in the supermarkets and complicating the Government's continuing crusade...
...first definitive year-end report card on the economy-the stock market average on the final day of trading -was cause for solid optimism on the part of investors. Last week the Dow Jones Industrial Average closed at 1020 -up 130 points for the year, a remarkable gain...
...revolution on wheels. A very unblinking assessment in the earlier stages-there is a grim account of a slave voyage told through its expense files-the book offers only a fairly cleaned-up version of more recent entrepreneurial villainy. Recommended especially to readers interested in keeping up with the Dow Joneses...
...Dow's breakthrough above 1000, says Economist J. Kenneth Galbraith, "will encourage the susceptible, but mostly it was useful to people who needed an excuse to get drunk." Nobel Prizewinner Paul Samuelson views the feat as "a belated recognition of what has been happening to the rate of growth of the economy." The main question, he believes, is why the index took so long to break...
...answer is that the Dow Jones industrials present a somewhat distorted view of the market. The average is composed of only 30 stocks, and though they do represent about one-fourth of the value of all shares traded on the New York Stock Exchange, they are mostly rather staid blue chips. Partly because the Dow does not include faster-moving computer, electronic, photography and drug issues, it has been late in mirroring the market's true strength. More representative, broadly based market gauges like the New York Exchange reached record highs earlier...