Word: dows
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Dates: during 1990-1999
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This turnabout points up a broad trend in the market. Dare I say it? New-economy firms are out of favor. Since March 31, the smokestack-vintage Dow Jones industrial average has risen 1,000 points, while the tech-laden nasdaq has gone flatter than steel slab. In that period aluminum maker Alcoa rose a shiny 55% and joined heavy industrials such as 3M and Phelps-Dodge in posting heady gains. Tech wonders, including Cisco, Microsoft and Intel, floundered...
Rubin has served as treasury secretary for four years and had recently made public his desire to give up that position and return to family life. His resignation comes as the Dow Jones treads the highest territory in its history and at a time of relative economic calm after years of global financial turmoil...
...Black Monday, but after Wall Street's market movers get through stewing in their juices this weekend, expect something like charcoal gray. The Consumer Price Index was way up Friday -- the 0.7 percent hike was the biggest since the Gulf War -- and by close of day the Dow had shed 194 points. Now investors have two days to read the papers, look ahead to the Fed's interest-rate confab Tuesday and wonder: Is the best news on inflation behind us? And more important, does Alan Greenspan think...
...NATO's ongoing war in Kosovo, which is sucking down fuel like lemonade in summertime. But Baumohl says the markets are jumping the gun -- and are just plain jumpy. "There'll be uncertainty and sell-offs until the Fed announces on Tuesday," he says. "But after that, the Dow will go right back to setting records." That may be the only kind of inflation you really have to worry about...
EXTRA! EXTRA! In 110 years, the Wall Street Journal has run only six banner headlines. The Dow topping 10,000 earned one. Can you guess the events that prompted the other five...