Word: dowe
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...blew town Aug. 15 for a one-week remote-island getaway, you could have concluded upon returning that you hadn't missed a thing on Wall Street. The Dow Jones industrial average was at 7942 when you departed; 7894 when you reappeared, a pimple of a drop. But you would have been wrong--and missed the perverse pleasure of watching hordes of young traders sweating through their custom-made threads while the market extended and retracted like a bungee jumper flung off the George Washington Bridge...
...Dow rose or fell at least 100 points all five days that week, part of a numbing month-long stretch in which wild price swings have found space on the front page of many business sections. It was more of the same last week. The Dow plunged 133 points Wednesday and was down about that much again Thursday before roaring back 80 points late in the day, and then swinging another 100 plus points on Friday. In absolute terms, there's never been anything like this flurry of 100- and 200-point moves. Even in percentage terms--the thing that...
...thing the gurus do know is that the recent market swings, while unnerving, aren't as historic as they first appear. It's just that the past five years have been an unusually placid period, making the recent action striking by contrast. Daily Dow moves of 1% or 2%, such as we've seen lately, had been sparse since 1991. But before that they were routine. The Chicago-based research firm Logical Information Machines calculates that since 1945 the Dow has risen or fallen at least 1% in a day 2,268 times, or an average of 44 times...
After the Dow posted a record 257-point gain yesterday, investors in Southeast Asian markets pushed ahead. Hong Kong's Hang Seng index had it's biggest point gain ever, soaring 978.66 points to close up 7.13 percent at 14713.99. Markets from Australia to Taiwan also recorded strong gains...
...Still, Dow claims to have not only the weight of scientific evidence but also a trend among juries: 14 out of 19 smaller cases were decided in favor of the company this year. Lawyers for the plaintiffs hope the Supreme Court will restore some of their power to call witnesses by reconsidering and reining in its Daubert ruling. As for the women in the case, their appeal is one that neither science nor law has answered so far. Says Laitinen: "We just want our health back...