Word: dow
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...sagging industrial production and red ink all over Detroit, stock prices have been surging steadily for almost four months. Last week, following a spate of near-panic buying that sent total trading volume on the New York Stock Exchange well above 50 million shares on two successive days, the Dow Jones average of 30 blue-chip industrial stocks closed at 954.69, its highest level since March 1977. The Dow's rise of about 200 points, or 26%, since its late April nadir was read almost everywhere on Wall Street as a sign that the low point...
...shares changed hands in July alone, the second busiest month in Wall Street history; the heaviest was last January, when prices also rose sharply, only to be sent plunging down later when inflation and interest rates climbed into double digits. The hunger for stocks has lifted not only the Dow's lately depressed industrials but also the broad stock averages. Since the end of March, the composite index of the 1,531 common stocks listed on the New York Stock Exchange has risen by 28%, while the yardstick for the 880 firms traded on the American Stock Exchange...
...investment community anticipates a Reagan victory in November." One reason for this is lingering faith among investment managers in an old rubric that says that stock prices usually rise during election years, but they climb higher and longer when the Republicans win than when the Democrats do. But the Dow industrials have not risen in the first year of a Republican Administration since 1925, after Calvin Coolidge was elected; on the other hand, the only time since the end of World War II that the Dow fell during the first year of a Democratic Administration was 1977, when Jimmy Carter...
Many market seers talk earnestly of the Dow's reaching 1000 by year's end, a level it last reached on Dec. 31, 1976, when it closed at 1004.65. What is needed to keep the bull market charging ahead? One thing would be investor confidence that there will not be a rerun of the spurt in interest rates that nipped the January boom. Another spur would be broad recognition that stocks remain cheap, especially in comparison with real estate, gold and other assets. Ten years ago, one ounce of gold, then worth $35, would have bought a little...
...Paris Bourse is now the hottest stock exchange in Europe. Its stock index has risen 80% since the beginning of 1978, a period during which the New York Stock Exchange's Dow Jones industrial average mostly wandered between 700 and 900. Moreover, the number of people owning stock on the Bourse has doubled to 2 million. French companies raised some $2 billion through stock offerings in 1978 and 1979, four times the amount of the preceding two years...