Word: dows
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Dates: during 1990-1999
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...stock market has officially entered La-La Land. The summer rally that last week pushed the Dow Jones industrial average to within a whisker of 8000 has blown through the last remaining bounds of sanity. No sweat, say some Wall Street swamis. The market has a permanent visa to the ether. But don't believe it. Like Wile E. Coyote running off a cliff while chasing the Roadrunner, the market is churning its legs furiously, but there's nothing beneath it. When investors finally look down...
...developments. Start with the recent rally, which has taken the Standard & Poor's 500 to a gain of 21% through the first half of the year. That follows gains of 23% last year and 37% in 1995. In this century there have never been three consecutive years where the Dow rose more than 20% each year...
...right around high noon Wednesday when the Dow Jones Industrial Average cleared 8,000, driven by heavy volume and some encouraging news about inflation. With the new milestone, the index has now doubled in less than two and one-half years, having crossed 4,000 first in February 1995, and some gape-mouthed analysts are ready to bet seriously on 10,000 by the year 2000. Details of the day's trading in Money Daily...
...inflation low, the Conference Board reported that the consumer confidence index rose to 127.1 in May. It was the highest rating since the index stood at 131.7 in August 1969. Because consumer spending accounts for nearly two-thirds of the nation's economic activity, the reports sent the Dow down in early trading on fears that the news meant a too-rapid acceleration in economic activity, which might prompt the Federal Reserve to raise interest rates. But the market quickly recovered to finish up 37.50 at 7,383.41 as investors considered other indicators, such as slowing consumer consumption, that seem...
...Street analysts who were braced for a short-term interest rate increase, the Federal Reserve Tuesday opted to leave the rates unchanged. Stocks rose sharply after the news, ending a rollercoaster day that had sent prices down as much as 80 points in the morning with a 74-point Dow advance to 7303. The decision will hold the rate that commercial banks charge one another for overnight loans at 5.5 percent. A rate hike would have meant higher borrowing costs for millions of credit card-wielding Americans, but would also have slowed the economy and dampened inflation. Characteristically refusing...