Word: dows
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Dates: during 1950-1959
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With a bullish snort, the stock market last week regained about one-quarter of the 52 points lost since August. The Dow-Jones industrial average closed at 482.39, 15 points above the low at the start of the week. The upswing was almost identical to the surge from a 53-point drop last May. Said Wall Street Broker Harold L. Bache: "I look for higher prices and increasing activity in the market...
...Street slogged along in the same gloomy pattern. In quiet trading, rarely involving more than 2,000,000 shares at a session, most stocks slipped lower. The market dropped on four of the five trading days last week for a total of 14 declines in the last 17. The Dow-Jones industrial average closed at 475.25 for a 15-point drop during the week, 28 points below the beginning of September and 46 points under the alltime high last April 6. It stood within 12.90 points of the Jan. 23 low for the year...
...elements of a readjustment have been growing within the market for some time. As credit tightened, pushing business borrowing rates to 4% for prime loans, up to 5½% for others, the spread between stock and bond yields has narrowed, making bonds a more attractive buy. On the Dow-Jones industrial average, the yield is slightly above 4.81% for stocks v. 4.07% for bonds; on Standard & Poor's index, which Wall Street also follows closely, the spread is 4% for stocks v. 3.61% for bonds...
...bitter U-boat warfare of World War II, when the U.S. used it to transport 90 million tons of vital supplies, safe from preying U-boats in the Gulf. But the Waterway has really proved its value in peacetime. At least 500 companies (among them: Reynolds Metals, Alcoa, Monsanto, Dow Chemical) have built plants and warehouses along its banks, while thousands of others use it for cheap transportation. One enterprising Texan has built up a booming business carrying truck trailers up and down the canal by barge, thus eliminating dockside loading and speeding up the delivery of goods to inland...
...surging chemical and petrochemical industries will shoot up 70% by 1960, and the Gulf Coast will get much of the expansion. Texas alone will add $260 million worth of new plants in the next two years. Firestone Tire & Rubber is building a huge chemical plant at Orange, Texas; Dow Chemical is expanding its Freeport. Texas plant by $45 million, while Gulf Oil, Foster Wheeler Corp., Lake Charles Chemical Co., Buckeye Cellulose Corp., Coastal Chemical Corp., Union Carbide & Carbon are pouring in millions more for new facilities along the waterway from Florida to Mexico...