Word: dow
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...private business, is midyear, and there are loud dissents. Robert Farrell, the leading stock watcher for Merrill Lynch, biggest of all brokerage firms, asserts bluntly: "The consensus that has the economy up in midyear and up in 1983 is wrong." Many investors appear to share his apprehension. The Dow Jones industrial average dropped 17 points last week to 807, its lowest close in 22 months, on some of the heaviest trading in the history of the New York Stock Exchange. And the Business Roundtable, a group composed of chief executives of some 200 of the biggest U.S. corporations, predicted that...
...bellwether first trading sessions of 1982 unfolded last week. Like an anxious mountain climber midway up a steep cliff, the stock market cautiously tried a slight advance last Monday. But then vertigo took over. On Tuesday, brokers' telephones lit up with customer sell orders that drove the Dow Jones industrial index down 17 points, the market's worst one-day slide in four months...
...Republican Presidents, the opposite is true. The Dow fell an average 12.4% in the twelve months after the Inaugurations of Herbert Hoover, Dwight D. Eisenhower and Richard Nixon. It is down in 1981 too, by about...
LeFevre also found trends that are more encouraging for Republicans after the first year of new Administrations. Prices for stocks in the Dow industrial average go up smartly: about 13% in the second year, 20% in the third and 6% in the fourth. LeFevre explains that this is because Republican Presidents sensitive to looming congressional elections traditionally stimulate the economy at about the time their second year in office starts. Says he: "It begins to dawn on the occupant of the White House that unless he gets the voters in a good mood, he is going to lose...
...history holds true for this Administration, says LeFevre, stock prices should now begin rising in a fairly steady 32-month rally. They should then peak in August of 1984, when the Dow will reach 1345.61, almost 300 points above its all-time high of 1051, set in January...