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...attract more viewers later, in prime time. But the news leaked out. Network employees felt no qualms about immediately phoning this scoop to their friends among top operatives for both political parties, who called their big campaign contributors, who called their brokers and whispered, "Buy!" By 3 p.m. the Dow Jones average was up 30 points on what TV business reporters coyly described as "rumors" of Republican gains in the elections. The irony seemed lost on most of the players that even amid a populist revolt, as voters angrily revoked the Democrats' 40-year lease on the Congress, the elites...
Stocks rallied yesterday, strengthened by optimism about possible Republican election gains and the first bond market advance in seven sessions. The Dow Jones industrial average rose 21.87 points...
...Dow average rose 1.35 points to 3,808.87 as investors waited for the outcome of congressional elections and a possible increase in interest rates orchestrated by the Federal Reserve...
...independence. The star analyst insisted on working out of her Greenwich Village apartment, and issued bullish forecasts that clashed with the more bearish opinions of Katherine Hensel, the firm's chief market strategist. Garzarelli overestimated the strength of this year's market rally, for example, predicting that the Dow Jones average would hit 4600 by the end of 1994. The indicator has failed...
...billion worth of two- and five-year notes on Tuesday and Wednesday. Traders apparently feared that this influx of new issues could drive prices down, and yields up, especially with the Federal Reserve expected to lift short-term rates again as soon as next month. In response, the Dow Jones Industrial Average plunged 36 points to 3855.30 on moderate trading (N.Y.S.E. volume: 282 million shares). The S&P 500 fell 4.06 to 460.83. NASDAQ stocks dropped 4.17 to 761.21. And that 30-year Treasury ended the day at 8.04%, up from 7.98% on Friday. The price of gold fell...