Word: dowe
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...economic recovery. As the election approached and investors caught the jitters, the calm but healthy bull market that developed with the onset of recovery last year seemed to have been taken over by the bears. In five days of busy trading last week, the 30 stocks of the Dow Jones industrial average, still the most widely watched Wall Street barometer, plunged 15 points. The index touched 932, its lowest level since January, before picking up again to close the week...
...together, the Dow had worried down 90 points since the slide began in mid-September. That represented an 8% drop in share values inside of a month, which translates into a paper loss of $105 billion for the millions of Americans who own stocks directly or through mutual funds and pension funds. Among the biggest losers have been stocks in such basic industries as metals, chemicals and paper, which had been market leaders for most of the year. IBM closed last week at 262, down 20 points since the middle of September. In the same period, Du Pont fell from...
...upside breakout" that would lead the market to a new alltime high above the January 1973 peak of 1051.70. Though business began to slow in April, economists in and out of Government remained convinced that it was just a temporary lull. Investors' expectations remained high, and the Dow hovered around 1000 through most of the summer...
...point. As recently as Sept. 21, when the Dow average nosed up to 1015-a three-year high-stocks did not seem overpriced, as measured by their price-earnings ratios. Then, too, interest rates have been behaving, though less as a result of Federal Reserve Board money policies than as a consequence of sluggish loan demand. The prime lending rate charged by banks to businessmen, which stood at 7¼ last January, has bobbed up and down in a narrow range through most of the year...
...Weeden & Co., notes, "We will not get back to 1000 until we get some signs that the economy is improving." There is little chance of that happening, at least in the next few weeks. Thus some brokers now believe that stock prices will continue to slip, dragging the Dow down to a low of 900 or so before Election Day. Indeed, some analysts believe that such a drop might be a healthy correction that would leave the market poised for a new and sustained upward march later on. For the moment, however, the state of the market can offer little...