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...going to get those across-the-board cuts." Dole, a leader in both the Finance and Agriculture Committees, predicted: "The Senate will be slow to cut any more in the nutrition area, as I am." Nor were the financial markets encouraging. Stock prices fell sharply Friday, the Dow Jones hitting a new 17-month low of 824.01, and bond prices also plummeted...
...Corporation's abstention on a measure at Dow Chemical Company that would have ended the firm's continued production of ingredients of the disputed "agent orange" also "caused strain" between ACSR and Corporation members because the ACSR approved the measure unanimously, Waldman said. However, he added that the issue might not come up again with the almost entirelty new cast of characters on the committee
Though Wall Streeters voted for him in heavy numbers last November, their euphoria over Ronald Reagan was short-lived. Soon after Election Day, the Dow Jones average of 30 industrial stocks pierced 1,000 for the first time in four years. The widely watched indicator was then on a roller-coaster through the next several months, reaching 1,024, its highest close so far this year, on April 27. Slowly at first, but then with increasing momentum, doubts turned into downright disbelief...
Last week, as trading resumed after Labor Day, brokers stood long-faced among the Dow's smoldering ruins: down more than 170 points to 851, the lowest level in 15 months and about where it was a decade ago. The American Exchange, with a high proportion of energy company listings, was hit almost as hard. Its index fell from 375 in May to 331 at the end of last week. But, in response to indications that credit growth is slowing, stocks rallied a bit late in the week. The Dow closed at 873, up nine points for the week...
Surrounded by youthful cast members from the film Annie, including Newcomer Aileen Quinn, 10, Veteran Director John Huston, 75, seemed as pleased as Daddy Warbucks during a Dow Jones upswing. The screen version of the Broadway hit was his first attempt at anything musical since guiding his father, Actor Walter Huston, through a jig in the 1948 classic Treasure of Sierra Madre. "And that," John admits, "was his own choreography." The Annie youngsters were just as professional. Says Huston: "If you understand kids, they never disappoint...