Word: dow
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...salaries and scholarships. By 1968 he had increased the university's endowment to $1 billion. But these were times of extreme discord, and many students paid little attention to Pusey's ambitions. In the fall of 1967 a band of about 250 leftist students trapped a recruiter for the Dow Chemical Co., chief manufacturer of the napalm being used in Viet Nam, and held him prisoner for seven hours. Pusey put 74 of them on probation and said their conduct was "simply unacceptable...
...another era, the selling wave would have signaled a stock-market catastrophe. But, surprisingly, there was nothing akin to a major panic on the floor of the New York Stock Exchange last week, even as the four-year-old bull market took a sudden nose dive and the Dow Jones average of 30 industrial stocks suffered its largest single-day decline in history. Only six days after breaking through the 1900 level for the first time ever, the Dow plunged 61.87 points, to 1839, on the week's opening day. On Tuesday the bears were again on the prowl...
...reasons behind the bull market's sudden fall, according to professional investors, were relatively mundane. As the Dow broke 1900, explained one Wall Street forecaster, "a lot of buyers were taking to the sidelines, trying to figure out whether the assault on 1900 was for real. On Monday, everybody jumped in to cash in their profits." Another reason for the big drop was the fact that early last week stock index futures were selling at a significant discount to current stock prices. For Wall Street institutions using computer-trading programs to conduct business, that meant an opportunity to make...
...more striking about last week's dive was the extent to which investors now live routinely with the roller-coaster dips of the longest bull market since the 1920s. Stock-market analysts were quick to point out that the early-week drop was equivalent to only 4.2% of the Dow's value, in contrast to the record loss of nearly 13% on Oct. 28, 1929. Moreover, last Monday was the fifth notably dismal day of the year, even as the Dow has climbed about 350 points since Jan. 1. The others: Jan. 8, a 39-point loss; March...
...relatively advanced age of four years, the bull market continues to show signs of youthful vigor. Last week the Dow Jones industrial average passed the 1900 mark for the first time in history and stayed just enough above it to close the week at 1900.87, up 15.61 for the four trading days. The Dow is now more than 350 points higher than it was at the start of the year. Main reason for recent gains: investors foresee further declines in interest rates. Robert Farrell, chief market analyst at Merrill Lynch, expects that stocks will suffer a temporary setback...