Word: dowe
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...YORK: In these bullish days of the mutual-fund-fueled stock market, the Dow's daily behavior is rarely evidence of anything other than herd psychology -- even Tuesday's staggering slide of almost 300 points. But this time, take notice: It's Wall Street's way of saying that a recession may be on the way. "Recessions are hard to spot -- you don't know you're in one until it's half over," says TIME Wall Street columnist Daniel Kadlec. "But the market usually sees it first and declines ahead...
...that predicted a nasty divorce. As the ripples of this disunion wafted through Hollywood last week, Wall Street received a tremor: Planet Hollywood, the publicly held company partly owned by Willis and Moore, fell 1/16 of a point on the day after the couple's announcement, even though the Dow was up. GO MAGIC...
...which items are on sale because they've gone out of style or out of season, and which ones are damaged goods. And that's just how you ought to shop when there's a clearance sale in the stock market, like the one that knocked the Dow down 207 points last Monday. But there you have to inspect the goods especially closely. Stocks aren't vacuum cleaners; if they break when you get home, you can't take them back to your broker for a refund...
...made by Wall Street analysts. He expects--"by the end of the summer"--a correction of 10% to 15% in today's stratospheric stock-market prices that will interrupt a long-term bull trend. Varvares is both more and less optimistic. He foresees only an 8% drop in the Dow Jones industrial average but one that will fall "on a sustained basis" through year...
Both Sinai and Varvares are raging bulls compared with Edward Yardeni, chief economist of the investment firm Deutsche Bank Securities. Formerly one of the stock market's biggest boosters, Yardeni now thinks the Dow may give one last spasmodic twitch up to 10000 by September, then fall 30% in 1999. That, he says, would be in anticipation of a global recession starting...