Word: dows
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Dates: during 1950-1959
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...historic week for Wall Streeters. Led by such blue chips as U.S. Steel and Standard Oil (N.J.), the Dow Jones industrial average broke through the 520 level that has been a barrier three times before, climbed to an alltime record high of 526.57 before settling back to 526.43. What gave the market its record-breaking push was the same combination of improving business news, institutional buying and fear of inflation that has sent it on one of the steepest climbs in history...
...brief period one day last week, stocks on the New York Exchange nudged through the alltime bull-market high of 521.05 on the Dow-Jones industrial average. They slipped a bit before the close, thus technically set no new record, since the closing prices are the ones that count. Three times in the last two years, stocks have marched up to the high set in April 1956, then backed away from it. At week's end Wall Streeters were split on whether the average would burst through and set a new record, or whether the market would slide into...
Whether the market is at a record high depends on which yardstick is used. Like the Dow-Jones, Standard & Poor's index of 425 industrial stocks was close to a record at 52.06, only a shade under the alltime high of 52.18. On the other hand, the New York Times index, at 556.67, still had a good way to go to its 590.96. Moreover, the averages are heavily weighted in favor of leading blue chips, most of which have risen in the bull market. Thus they do not show that many another stock has declined. Some...
...production has boosted output from the low of last spring. The Fed felt recovery had progressed far enough to permit two more of its district banks, Minneapolis and Chicago, to raise their discount rates from 1¾% to 2%. Wall Street snorted bullishly at these figures, at midweek sent Dow-Jones industrials to the year's high of 513.71, just 7.34 points off the alltime peak of April...
Shaking off warnings from the Federal Reserve-and many a market analyst-investors continued to buy stocks and dump bonds last week in a speculative drive that sent Dow-Jones industrials up 2.15 points to 508.28, within four points of the year's high. While confidence in the nation's overall economic health is a factor in the rise, soaring stock prices have outdistanced foreseeable earnings. A bigger factor is the fear of inflation, which has grown so strong that many investors break previously accepted rules in their race to cover themselves against a possible decline...