Word: dowe
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Dates: during 1970-1979
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...news." Traders have followed it to the letter in the past two weeks and thereby made the explosive rally that was once expected to follow President Nixon's departure from office become Wall Street's non-event of the year. Shortly before Nixon's resignation, the Dow Jones industrial average did indeed rise nearly 50 points in a few days as investors bought on a plethora of rumors. But once the news broke, they started selling and drove the Dow down to a close last week of 732, the lowest in four years and about 30% below...
...White House from New York to join his wife, Mrs. Nixon, Julie and David Eisenhower in the family quarters. That gathering, too, signaled the fast-approaching end of the Nixon presidency. Rumors of resignation caused banner headlines and dominated news broadcasts. The stock market rallied again, with the Dow Jones industrials rising almost 24 points. Crowds gathered along the fences surrounding the White House; mostly somber and curious, they had the quiet air of a death watch. In the House of Representatives, the gravelly voice of William ("Fish Bait") Miller startled the occupants of that chamber. "Mr. Speaker, a message...
...minds of the participants of another Washington meeting. The 15 members of the Senate Republican policy committee, joined by other Republican Senators, held their regular weekly luncheon on Capitol Hill. As they met on a day in which rumors of possible resignation were running wild, initially sending the Dow Jones industrial average up a startling 25 points by midday, the Senators were grim. Explained Tower later: "There was considerable concern that the President did not really understand the mood of the Senate, that he did not fully comprehend the peril he faced if he came to trial here...
...that the transfer of power by itself would do little to solve the economy's persistent problems of rampant inflation, sky-high interest rates and declining output. Both sides of the mood were successively illustrated on Wall Street, where the Nixon years have been mostly bearish; though the Dow Jones industrial average hit its alltime high of 1052 in January 1973, at the beginning of last week it stood 180 points below its level on Nixon's Inauguration Day in 1969. In the first three days of last week, the Dow shot up 45 points in anticipation...
...going on strike as contracts expire in a wide range of industries. Last week 506 stoppages involving 218,000 workers further slowed the economy. Iron miners were out in Michigan and Minnesota. Construction workers were out in California, Washington, Nebraska, Illinois and Tennessee. Other strikes dragged on at Dow Chemical and National Airlines and, of course, among National Football League players...