Word: dows
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Dates: during 1950-1959
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...Dow Chemical Co. President Leland I. Doan, after telling stockholders that 1955 sales were running 18% ahead of 1954, said: "The outlook has never been better." Railroads were doing well. Union Pacific turned in a seven-month net of $42,388,048, up 20% from the comparable period of last year, and Illinois Central lifted its net a thumping 54% to $14 million. With 1956 auto production just getting under way and heavy construction still booming, steelmakers, already at 91.4% of capacity, wondered how they could fill their fall orders. The magazine Iron Age said that the demand for steel...
Though Fulbright argued long and loud that his was to be "a friendly study," businessmen were not convinced. The stock market tumbled: in the first eight days of the Fulbright probe the Dow-Jones industrial average fell 28 points. Instead of easing up, Fulbright shifted his attack, e.g., he sharply questioned General Motors President Harlow Curtice about competition in the auto industry, suggested that G.M. could cut prices if it wanted to. His line of questioning soon drew a rebuke from Indiana's Republican Senator Homer Capehart, who flatly accused Fulbright of having no intention "to investigate the stock...
...rise in the Dow-Jones industrial average gave a false picture of the market. The index, made up of 30 stocks, mostly bluechip, includes G.M. While they were jumping, many other stocks declined. Of the 1,231 issues traded, 636 closed lower, while only 361 advanced (234 were unchanged). The next day, as traders took part of their sizable one-day profits in blue chips, the index had its big drop. Ordinarily, a one-day drop of more than 7 points in the average would shake the market, set off a prolonged selling wave. But this time...
Growth Wanted. The week's ups and downs were the latest evidence that the greatest bull market in U.S. history has primarily been a market for blue chips. Since last January, the Dow-Jones industrial index has climbed almost steadily, from 391.89 to 461.18 at week's end. And the sharpest rise has come since the Fulbright hearings ended. High-priced stocks have gained 8% in value, according to Standard & Poor's index, while its index of low-priced stocks has shown a loss of .3%. One big reason is that investment trusts and big institutional buyers...
Trouble Ahead? How high will the market go? Last week it was possible to get all shades of opinion on Wall Street. One broker even predicted that the Dow-Jones industrials would hit 1,000. But some brokers lifted warning fingers. Stock prices have been going up so high and so fast that dividend rates have not been keeping pace. Traditionally, brokers start to worry when yields of stocks and bonds get close. They fear that many investors, discouraged by comparatively low stock yields will start shifting from stocks to safer bonds, possibly touching off a major decline in stock...