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...fresh beginnings. But this new year opened with a disquieting week of turmoil. As nervous investors continued to convert cash into inflation-proof tangible assets, the price of gold shot up to a wallet-popping $341 an ounce before settling back at week's end to $329. The Dow Jones industrial average, which had been rising since July, plunged 15 points in one day, the largest decline since last December. Other news was also depressing. Wholesale prices rose in August at an annual rate of 15.4%, which portends still higher consumer prices in the autumn, and unemployment climbed during...
...written by Yergin, is more persuasive though somewhat extravagant. He argues that with only minor adjustments in life-style and no decline in economic growth, Americans could consume 30% to 40% less energy than they do today. In the book's best passages, Yergin cites illustrations ranging from Dow Chemical's 40% reduction in energy use to Colgate-Palmolive's 18% cutback to show that many companies have continued to expand while saving energy. The examples are impressive. Nonetheless, there is a critical point at which sizable reductions in energy could provoke a tailspin in U.S. industrial...
...most investors the stock market is the Dow Jones industrial average, that index of 30 stocks whose price fluctuations are a barometer of good and bad times. But complaints are common that the Dow is not really a representative market measure. In hopes of improving it, the Wall Street Journal, which selects the stocks that make up the average, has revised it for the first time in 20 years. Result: the Dow now reflects almost 25% of the market value of all 1,566 New York Stock Exchange listings, vs. 19.3% before...
...stodgier performers, Chrysler and Esmark (formerly Swift & Co., the meat packer), with glamorous Merck & Co. and IBM, which is the market's most popular growth stock. Their inclusion reflects the rising importance of technology and drug companies in the economy and stands to make the Dow somewhat more volatile. Both companies' shares have risen substantially in value over the past two decades (Merck has more than tripled, IBM has quintupled), and relatively high-priced stocks usually have sharper swing than do lower-priced ones. Had IBM and Merck replaced Chrysler and Esmark in the Dow at this time...
...Sabra Dow--Up From Under Coffeehouse, 136 River St., Central Square...