Word: dow
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...euphoria of Tuesday generated an even more intense trading frenzy on Wednesday morning. In the first hour, the Dow climbed 17.79 points on an incredible volume of 37 million shares, which was 54% higher than the previous one-hour record of 24.1 million. Suddenly, and almost as swiftly, the market swung the other way. Fearing that the rally was going too far and too fast, nervous investors decided to sell and take their profits...
During the afternoon, the Dow lost all its gains and finished the day down 1.81. When the turmoil was over, the 132.69 million shares traded smashed the previous one-day mark of 92.88 million shares, which was set on Jan. 7, 1981, after Investment Adviser Joseph Granville issued his famous warning to "sell everything...
Thursday was another roller-coaster day. In the morning the bulls routed the bears and sent the Dow up nearly 16 points by 1:30 p.m. Then rumors that New York City's Manufacturers Hanover Trust Co. might suffer heavy losses on loans to the Mexican government, which is having serious financial difficulties, helped drive the Dow down 14 points in the next hour. When the report was denied by the bank, the market staged another furious rally, and the Dow ended the day up 9.14. After the passage of the tax bill on Thursday night, the market exploded...
...excitement sparked predictions by some analysts that the rally would at last carry the Dow Jones average above its peak of 1051.70, which was reached in January 1973. Some heady traders were even talking about the start of a "bull market of the '80s." Said Stan Weinstein, editor of the Professional Tape Reader, a market-advisory newsletter: "This is the real thing. The market will trend higher for at least the next two months, and, at a minimum, the Dow will climb back...
...Says Monte Gordon, chief of research for the Dreyfus Corp. group of mutual funds: "Markets can respond to interest rates' coming down, but they can mount a sustained upward move only when corporate earnings improve. This is the food on which bull markets feed." Gordon believes that the Dow will rise only to about 900 in the next few months. Richard McCabe, a vice president with Merrill Lynch, is gloomier; he predicts that the Dow will lose all its surge of last week and sink below 780 by fall...