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After edging toward 5000 for most of last week, the Dow Jones industrial average topped the milestone by three points briefly on Monday before slipping back to close at 4,983.09. "The 5000 point mark is a psychological barrier that has no inherent significance, but is an important indicator of investor confidence in the economy," says TIME's Bernard Baumohl. "It is a sign that investors are pleased that the budget is on the way to getting balanced, and also that they believe that the Federal Reserve will lower interest rates by the end of this year. I expect that...
After a week of record closes, stock watchers were primed for the Dow Jones industrial average to push past the 5000 mark. And it did, surging to 5,0003 before tumbling in a late-day selloff Monday. By the close of the day, the Dow finished at 4,983.09, down 6.86 from Friday's close. Broader market indexes were also lower. The New York Stock Exchange composite index dropped 1.20 to finish at 318.92. The technology-heavy Nasdaq composite skidded to 1,029.47, down 15.56. The Standard & Poor's 500 stocks also fell 3.22 to 596.85. The American Stock Exchange...
Four straight sessions of record highs ended Tuesday as the Dow Jones industrial average closed down 1.09 to 4,871.81. Declining issues led advances, 1,322 to 930 on a volume of 353 million shares on the New York Stock Exchange. The Nasdaq Composite index fell 17.84 points to close at 1,040.62, while the Standard & Poor's 500 also declined, falling 3.01 points to 589.29. London gold closed lower as well, at $385.75 a drop...
...DOW MUST PAY HUGE DAMAGES...
...Nevada jury ordered Dow Chemical Co. to pay $10 million in punitive damages to a woman who claimed severe injury after receiving silicone breast implants manufactured by Dow Corning, a company jointly owned by Dow Chemical and Corning Inc. Three days earlier, the jury had awarded $4.1 million to the woman in compensatory damages. As part of its defense strategy, Dow Chemical cited numerous studies that have failed to link silicone implants and health problems. A spokesman said the company would appeal...