Word: dowe
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...most dramatic effect is on Wall Street, where the Dow Jones industrial average hit new highs in back-to-back sessions last week as consumers, with increasing boldness, shifted their cash from low-yielding bank deposits into stocks and bonds. The Dow closed at 3640.63, up 25.15 points for the week. At the same time, buyers stampeded to buy long-term bonds in order to lock in rates before they fall any further. Nor were U.S. investors on a solitary binge: hopes for a fall in European loan rates pushed stock exchanges in London and Paris to new highs last...
...positive side of its own. Among other things, it gives investors the confidence to put their money in longer-term investments. On Wall Street outspoken bulls insist that the stock market still has plenty of room to grow. Elaine Garzarelli, an investment strategist for Lehman Bros., looks for the Dow to hit 4000 by the end of the year and climb to 4600 in 1994. "My feeling is that any correction would be minor," Garzarelli says. "Interest rates would have to go up to offer an alternative to money going into stocks...
...DOW JONES INDUSTRIALS
This stampede into the risky world of stocks has only heightened concern that the market may soon come tumbling down. Never far from bearish minds is the 1987 crash, which saw the Dow Jones industrial average plunge 508 points on Black Monday. Even more frightening was the more recent, and more devastating, collapse of the Japanese stock market that began in 1990, when the bloated Nikkei average plummeted from nearly 39,000 to less than 15,000 in 2 1/2 years. Then there are recollections of the Great Crash itself, which have become part of America's memory. "People start...
...CAPTION: DOW JONES INDUSTRIALS...