Word: dowe
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Dates: during 1990-1999
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Only 21 months ago, with the Dow at 6500, Greenspan was warning against "irrational exuberance" in the stock market. Several other wise elders expressed hope that last week's correction will have the cleansing effect of strengthening the historic relationship between stock valuations and the earnings of the underlying companies--a notion that had fallen out of favor after years of "momentum investing," in which all that mattered was that someone would buy the hot stock that some greater fool would soon bid up to an even higher price. The price-earnings ratio for the S&P 500 has approached...
...Dow ended its week at 7640.25, it was approaching one of the standard benchmarks for a bear market: a 20% drop from a previous peak. Many investors, though, have been in a quiet bear market for several months; that's because, during the last stages of the run-up in the Dow and the S&P 500, most of the increase was accounted for by such large companies as Coca-Cola and Microsoft; many smaller stocks were left behind. In the S&P 500, virtually all the gains in share prices in recent months were made by the 50 largest...
...unusual protection. Or buy other high-yielding stocks--especially blue chips that you can count on to thrive long-term. High yield today is anything over 3%, a level that may indicate the stock has been unfairly trashed and will do well in coming quarters. Among the highest-yielding Dow stocks are Philip Morris (4.1%), J.P. Morgan (4.4%) and General Motors (3.5%). Other stocks to own might include those of consumer-products companies, a group that lost far less ground than the market this summer. You could also look for value-oriented stock mutual funds, such as Oakmark Fund (which...
Most folks are a bit cranky on the first day of the workweek, but their Monday blues are nothing compared with those of the stock market. Last week's 512-point plunge in the Dow was just the latest jolt to Wall Street (and international markets) after the weekend--from Oct. 28, 1929, to Black Monday in 1987, to the 554-point dive last Oct. 27. Indeed, half of the 10 biggest drops in the Dow's history, both in percentage and point terms, came on Monday, which has been the worst day of the week for stocks over...
Investors in the market for some valuable advice during the dog days of the Dow can get it from a new source on the Web. Last week Morgan Stanley became the first major Wall Street house to offer discount online traders (at its discoverbrokerage.com site) same-day access to high-quality research reports on more than 400 companies. For $19.95 a month, subscribers can receive analyst ratings, earnings estimates and overviews on 20 stocks...