Word: dows
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...companies, the run-up in fuel prices is one more reason to ship jobs offshore. In the U.S. chemical industry, where 100,000 jobs have vanished since 2000, companies are building plants overseas, where natural gas goes for a small fraction of the price it commands in the U.S. Dow Chemical is constructing a $4 billion petrochemical plant in Oman, and CEO Andrew Liveris says the plant would have been built in Freeport, Texas, if not for the price difference. At PPG Industries in Pittsburgh, Pa., CEO Charles Bunch says he may have to close two North Carolina fiber-glass...
After closing above 11,000 for the first time since June 2001 on Monday, and sparking a day-long debate on Wall Street as to whether that benchmark even matters, the Dow Jones industrial average briefly gave up enough ground on Tuesday to dip below the threshold before jumping back once again. Look for more see-saw moments ahead as the Dow tries to eclipse its all-time high of 11,723, which was reached six years ago and which many market pros believe finally will be seen again later this year. That's not exactly a news flash...
...Street curmudgeons will tell you the 11,000 mark doesn't matter, that it's just a number. But after six years without making a dime, as the Dow's long doldrums suggest has been the average investor's experience, hitting a big number like 11,000-and holding it-may be more important than many believe. The stock market is as much an emotional barometer as it is a gauge of the economy. Indeed, if stocks were purely rational, the Dow would have set a new record by now. GDP growth is on track, inflation is tame, corporate earnings...
...Quibble all you want about things like the deficit and inverted yield curve. In general, the fundamentals look pretty good. Arguably, the only thing missing from this market has been a healthier psychology, wich is understandable, given how long stocks have suffered. But just maybe a round number like Dow 11,000 will finally get investors to think about the upside of stocks again. If so, there are trillions of dollars in money market accounts, trillions more possibly looking to get out of real estate, and another trillion-plus of buying power collecting dust at private equity firms-much...
Stocks have momentum again, and even though the market cooled a bit last week, some on Wall Street are daring to speak of--gulp--a record-high Dow Jones industrial average, which is just a 9% gain away. Yet even if that pans out, here's one bull-market relic that won't be making a comeback anytime soon: the celebrity mutual-fund manager...