Word: dow
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...First case in point: Thursday. In the morning Greenspan, along with encouraging corporate words from Nokia and Siebel, put the Dow on a 100-point rally that was spreading nicely across the indexes. But by afternoon the nibblers had done their work and the Dow and NASDAQ had given back half the day's gains; another run-up had run out of steam...
...feel a lot like the old one - new number, same world, same problems, same fears. And a hangover to boot. The stock market, anticipatory beast that it is, has already started to put on the brakes; having regained 10,000 (a few times) in the past two weeks, the Dow seems positively allergic to the air at 11,000, and the NASDAQ, despite a 3-day rally to close the week, hasn't even been able to hang on to the 2,000 mark. Yes, the economic bottom is in, which means the indexes shouldn't see much...
...Best Comeback In the aftermath of the Sept. 11 attacks, stock markets plummeted around the globe. After waves of layoffs were announced and consumer confidence ebbed, it seemed the bad news just wouldn't stop. But as the year ended, the major stock indexes - the Dow Jones Industrial Average, London's FTSE 100 and Tokyo's Nikkei - had all rebounded above Sept. 10 levels...
...them when businesses are going to start making more things and selling them at better prices - and all they got this week was a "definitely maybe, one of these days." Producers are waiting. Consumers are waiting. And investors, after a long and inspiring three months of running up the Dow and NASDAQ almost solely on faith, may be hearing from their gut that maybe they'd better just stop and think about this before placing any more big bets...
...Tough demands by fickle investors, which is why some on Wall Street are beginning to wonder if the indexes aren't now going to develop a fear of heights now that they've gotten off on a floor the Dow hasn't seen since Sept. 5 and the NASDAQ since Aug. 7. Expect some profit-taking Thursday, for starters. And Friday, the Wall Street that may be starting to take consumer spending for granted will have to endure another (likely garish) rise in the unemployment rate for November - a number which, despite its irrelevance to actual economic progress, can scare...