Word: dow
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Sour suspicions about Watergate, the continued weakness of the dollar, the soaring price of gold-up to a record $118.75 an ounce in London-and the continued rise of inflation and interest rates combined to hammer the Dow Jones industrial average down 37 points, to 894. After a brief moment of sunshine, Wall Street again became a valley of despair...
With individuals out of the market, N.Y.S.E. volume has never reached the 20 million-share daily average that brokerages had geared themselves to handle. And with institutions dominating trading, volume and prices have begun to swing wildly; recently the Dow Jones average leaped 29 points in a single day and then tumbled 17 points only five trading days later. Reason...
Still, the board generally agreed on the picture for the rest of 1973: sheer momentum will propel the gross national product to a new peak of roughly $1,282 billion, a gain of $130 billion from 1972. Last week boom euphoria even lifted the battered stock market; the Dow Jones industrial average leaped 29 points on Thursday, its biggest one-day jump in 21 months. The rise partly reflected news that U.S. international trade has swung back into surplus...
...enjoys a nightmare situation," says a Dallas associate-and that is exactly what Perot has found on Wall Street. Though the stock market last week rebounded from a four-month tail spin, prices as measured by the Dow Jones industrial average have still fallen 15% from their mid-January peak...
...Geneen era. That is a painful blow to corporate ego. ITT executives have long pointed proudly to the company's record of profit growth, thus implying that its stock should sell at a price-earnings multiple considerably higher than that of the blue chips in the Dow Jones average-which currently go for a composite 14.2 times earnings...