Word: dow
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...about additional safeguards to limit the number of futures contracts a broker could execute in a day. But at hearings last week in Washington, Merc President William Brodsky argued that the sale of index futures had a stabilizing effect on Black Monday. Without that escape valve, Brodsky suggested, the Dow would have fallen another 100 points...
DESCRIPTION: Dow Jones industrials, daily closings for Oct. 23 through...
CAPTION: THE DOW CLIMBS BACK...
...other players think that now is a good time to get into the game. Says T. Boone Pickens, the Texas oilman and raider extraordinaire: "If companies were attractive targets when the Dow was at 2500, they will be even more attractive with the Dow at 1800." Manhattan Financier Asher Edelman has spent $72 million since late August to accumulate 11.5% of Foster Wheeler, a New Jersey-based construction company; much of the buying came as the firm's stock tumbled, from $21 to $11.25, amid the crash. Paul Bilzerian, a Florida investor who has made more than $50 million...
...moment the bulls held sway -- barely -- despite the scorching they received on Black Monday. Their derring-do sent the Dow Jones industrial average up 42.77 points last week, to close at 1993.53. Fueled mainly by large institutional investors, the rise was the first feeble recovery following the back-to-back record weekly drops of 235.48 and 295.98 points earlier this month. Even so, the market's comeback is nascent, to say the least. The Dow now stands 729 points, or 27%, below its August peak of 2722. In terms of lost value, U.S. stocks remain $850 billion below their recent...