Word: dow
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...Stones of Summer is to be the first of a much larger oeuvre it must have a profound influence on Dow Mossman's vision of life, because it creates an awareness of this world rarely found in a first novel. That its vision is poetic and lengthy does not distract from its final effect, its suggestiveness uncovers the emotions, leaving them exposed to a situation that only lengthy development can make clear...
...assailed the uneven application of wage and price controls, working a traditional Democratic campaign theme of the little man fighting the party of big business. While worker salaries are in "a deep freeze," he claimed in Dallas, the president of Dow Chemical Co. received a pay raise of 196% and has to "eke out an existence on $305,000 a year." He inveighed against tax loopholes for the rich. "You pay for every martini lunch that a businessman deducts-while you eat a bologna sandwich." (Later, travelers on his campaign plane ceremoniously presented McGovern with a martini-which he declined...
...illustrated Wall Street's supersensitivity to any hint of tight money. It occurred after the Chase Manhattan Bank raised its prime rate on business loans by one-quarter of 1% , to 5½% -even though such a move had long been expected. A more basic reason for the Dow's strange behavior has nothing to do with the economy at all; the often-approached but never-broken 1,000 mark* has become a psychological barrier. Every time the Dow gets near that level some investors sell, believing that the value of their securities is reaching a peak...
Cyclicals Up. To the extent that stock-price movements are indeed telling something about the economy, the story is favorable. The Dow Jones industrial average is composed of only 30 stocks; less-publicized indices measuring the performance of hundreds of issues have hit historic highs in the last few weeks. "Cyclical" stocks-shares in companies whose earnings typically rise and fall with the general economy-are improving. These include stocks of hotels, machine tool, auto and appliance firms. Moreover, the U.S. economy is now growing more rapidly and suffering less swift inflation than the economies of most other industrial nations...
...During four different trading days in January and February of 1966, the Dow did briefly go over 1,000, but each time it fell back to close below that mark...