Word: dowe
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...issue is doubly compelling as the U.S. market chugs ever higher. The average blue-chip stock has risen a stunning 29% annually in the past two years, nearly triple the historical 10.5% benchmark, making the U.S. the best-performing major market on the globe in that period. The Dow Jones industrial average blew past the 6300 marker last week, more than double its level less than five years ago. America is on a roll, and with Wall Street euphoric over the election results, it seems nothing can go wrong. U.S.A. all the way! Besides, giant U.S. companies such as Coca...
...status quo" rally that has even seasoned traders shaking their heads. The prospect of at least two more years of Democratic President Bill Clinton pitted against a Republican-controlled Congress is just the tonic investors seem to want. Since Nov. 1, when Clinton looked to be a lock, the Dow Jones industrial average has zipped past 6100,6200 and 6300, en route to a near 6% gain...
...long will the celebration last? "Common sense tells you it's got to end," says Hugh Johnson, market strategist at First Albany Corp. But he also points out that on a trailing 12-month basis, the Dow is up 15% or more for 18 consecutive months--a streak unparalleled since the 1950s. As long as the Clinton-Congress stalemate holds, "it's very hard to shoot holes in this picture," he says...
...what's been going on in the stock market since Labor Day. Sure, corporate profits have been humming, and low interest rates have provided punch. But if investors weren't content with the nation's political backdrop it's unlikely stocks would have risen as they have. The Dow Jones industrial average, after sweating through a deadly dull summer, has danced 7% higher in two months and bubbled past...
...question is, Do the pollsters on Wall Street have it right? If so, investors needn't think much about their portfolios. The postelection political setting will be like the current one, which has worked miracles. The Dow is up 64% since the midterm election in 1994; the average diversified-stock mutual fund, up 47%. That dwarfs normal returns of 11% a year from stocks. Challenger Bob Dole is whining about the economy, but he's a lonely voice. Inflation is low, unemployment is down, the budget deficit is shrinking and the economy is growing...