Word: dows
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...knew the traders knew that too? With some party-pooping help from existing home sales, which fell off 3 percent in July, on Monday the Dow and NASDAQ made moves you could count on one hand, and volume was so thin as to cause some to wonder whether all the pros who had bought into Friday's run-up had, via cell phone from the Hamptons, been fired...
...markets, who after hearing the Fed?s Robert Frost recital glumly sold off the Dow and NASDAQ into the newly restated unknown, restating their own frustration: Businesses aren?t saying when business will pick up. The Fed, perhaps a little gunshy after misfiring both at the top of this cycle two springs ago and the bottom last fall, isn?t saying either. The White House is sunny as heck, declaring that capital investment will be back by spring, to the tune of 3.2 percent GDP for 2002 - but they need it too badly to be believed...
...That messianic Cisco news - with a boost from the housing report - produced a three-digit Dow rally and a proportionally larger one on the NASDAQ in the first half-day of trading Friday. Now, it is August, and it did look like rain in New York, which means the "big money" is nowhere the trading floor these days. But those in there investing are clearly feeling a little better all of a sudden about what they put in their portfolios going into a weekend...
...ensure that boomers have enough money for retirement is to allow them to divert about a sixth of their payroll taxes into the financial markets in search of higher returns. Most Democrats say such a roll of the dice could create a new generation of aged poor--and the Dow and NASDAQ have recently been acting like Democratic allies. So the party dug in its heels last week, as Senate majority leader Tom Daschle called the report "biased, misleading and flat-out wrong." That brave stand masks a weakness. Party leaders privately admit they can no longer count on their...
...Dow wound up notching 120 points. But don?t get used to it. Wall Street has lately begun to crow about this being "the bottom," and they may have a point. After racking up its worst July in a long, long while, NASDAQ still hasn?t budged since April and seems to have settled in around 2,000. The Dow may be doing the same thing somewhere in the 10,500 range. But bottoms don?t change into bounces just because they?re been at bottom for a few months - the whole decade of the '70s was a bottom, practically...