Word: dowe
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...wages and benefits convinced investors that the Fed won't tighten interest rates at its next meeting three weeks from now, says TIME's Wall Street columnist Daniel Kadlec. "It's hard to remember the last time the markets reacted so eagerly to this report." Indeed, now that the Dow has almost completely erased the sobering slide that began March 11, the rest of the market seemed today to have to caught a euphoria that Kadlec called "incredible." Yields on 30-year Treasury bonds fell to 6.99 percent, the lowest in a month. NASDAQ rose 25.60 and AMEX...
...longer cheap, have a lot going for them, including secure dividend yields of more than 6%. The security lies in the federal requirement that REITs pay out 95% of their income. The hefty dividends provide a cushion when the market falls. From March 11 through last week, the Dow Jones industrial average fell 9.8% while REITs fell just 5.4%.. During the four years through 1996, negative average returns were reported for 16% of stocks in the broad-market Russell 3000 index. That was true of only 2% of REITs...
Well, now even that density has been penetrated. The Dow Jones industrial average fell a pulse-quickening 608 points (8.6%) at its low, after peaking at 7085 on March 11. And that doesn't come close to describing the anguish out there. Technology stocks are in a full-fledged bear market. They peaked last summer, and a whole batch of them are down 60% or more, including such one-time darlings as Intuit and Iomega. Merrill Lynch reports that 47% of all stocks selling over $5 have fallen at least 20%. The worst is over, you think? That...
...YORK: After a fifth straight day on the slippery slope, the Dow Jones Industrial Average stands at 6,477.35, down 8.6 percent from its 7,085.16 high of March 11. It's not a bear market yet. But it doesn't look good. "I think we're in trouble," says TIME's Daniel Kadlec. "Usually during a downturn, people are tempted to buy, but this time they're afraid to step up." Right now, the reason for that fear is Friday's employment report. An unexpectedly high number, enough to spur Alan Greenspan to raise interest rates again, could send...
...YORK: For three days of the Easter weekend, the stock market gauge had been frozen at 140 below. No sooner did the markets reopen Monday than traders lopped another 157.11 points from the Dow, for the sixth-largest drop in stock market history and the heaviest two-day loss since the Crash of 87. And yet . . . the market is nearly three times as high as it was then, and even the bracing plunges of the last two trading days comprised only a 4.3 percent drop in values, where the 508-point drop of October 19,1987 represented a 22.6 percent...