Word: dows
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...Wall Street took its first Dow-NASDAQ nosedive in seven sessions Wednesday as the news of Jeffords' defection crystallized; Thursday morning, after the Vermonter's official announcement, the selloff continued. However, it's neither major or endemic, and if it sticks it'll be for different reasons than the state of the Senate - like maybe that stocks' recent rise has been too peppy to last. But for the businesses that found the Bush agenda to be a lot like their own, the news that Tom Daschle is now in charge of the Senate to-do list can't be heartening...
...stands right now, we appear to be past the bust in the stock market - both the Dow and the NASDAQ are comfortably off their mid-March lows, and barring a new round of dire economic news, few market-watchers expect another big dip anytime soon. If that's the case, it's because companies have been furiously cutting costs and lowering production since winter in a struggle to return to some semblance of profitability, and investors, while not exactly rushing in - they've learned some lessons from the past year - have handed out some points for effort...
...Global Climate Coalition, a U.S. business lobby that claimed the global-warming threat (and the Kyoto accord) was nonsense. On the heels of BPAmoco, Ford abandoned the coalition in 1999, and so have the likes of General Motors and DaimlerChrysler. Once renowned polluters like chemical giants Dupont and Dow are spending heavily on "green" solutions to business...
...talk about the economy. We've had nine straight years of economic growth, and now we're supposed to get upset because the Dow dips below 10,000 and some kids lose their Internet jobs and their bottomless mochacinos? Hasn't anyone ever heard the phrase business cycle? I mean, Hello? What do you people want from...
...this good or bad news for the traders? They weren't sure. After the morning bell the Dow quickly dropped 123 points, with the Nasdaq falling 56, but both indexes quickly recovered to just slightly down by late morning...