Word: dows
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Dates: during 1940-1949
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...share as 1,170,000 shares were traded, the biggest turnover in five weeks. Next day, they rose even more. In the short session, 1,260,000 shares were traded, the busiest Saturday in over two years. For the week, the rise of 5.5 points in the Dow-Jones industrial average (to 173.12) was the best week's gain since January 1947. This week the frenzy continued; the market saw its first 2,000,000 share day in a year...
...Despite the impressiveness of the rise, the market still had far to go before it convinced traders that a permanent turn had come. It had to break out of the narrow "trading range" between 160 and 188 on the Dow-Jones industrial index in which it had moved since the bull market ended in 1946. Not in 45 years had the market backed & filled in so narrow a range (percentagewise) for so long...
...seen in seven years. Cash wheat had fallen 41⅝? a bushel to $2.46½. Cash corn was down 49¾? to $2.13. In sympathetic spasms, almost every other commodity had tumbled with them. The stockmarket had steadied by week's end, but before it leveled off, the Dow-Jones industrial average had dropped 6.24 points to 168.81, lowest since June...
Against normal performance, the market had been sinking ever since earnings had started to rise sharply (see chart). Earnings on the Dow-Jones industrial stocks in 1947 had matched the 1929 level. Yet the average price was only slightly more than half as high. Investors had good reason to shy away from war babies and those that had never made money except in boom times. But, by prices alone, no one could tell last week which were war-and boom-babies, and which were likely to be consistent performers...
Greek Gb. To be given as follows: Section I, Professor Dow, Section II, Professor Finley...