Word: glumness
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...Horn was no glad-hander; he reminded me of two other saturnine gents of the day, Joe McCarthy and Roy Cohn. And the first day of the TV show, he had reason to look glum: no dancers appeared for the first 15 minutes (school has just let out). Then two girls showed up. By Day 3 a thousand teens were trying to get in. Two years later, the show was a smash; it introduced dance crazes like the Bunny Hop, and Horn had received an award from TV Guide. The dancers were taking the spotlight, and Horn showed that, after...
...being accurately glum about the quarter just past a fundamental reason to be optimistic about the future? Hardly. Sentiment - the way traders make themselves important is by having very thin skins - is certainly on the upswing after a day like Thursday. Tech stocks, you may recall, have a habit of taking back what they've given, especially when it was given in a hurry...
...there's a chance that there'll be no serious surprises. If a company has already warned, and it's still a surprise, well, shame on them. With the outlook as glum as it has been, you've got to warn sufficiently, and there's a good chance most of the companies have heeded that...
...Conference Board reported that its Consumer Confidence Index dropped to 106.8 in February, down from an already lousy 115.7 in January. That's five consecutive monthly drops in the 5,000-family survey, and it tells us that on the whole, folks are glum and getting glummer about their near-term economic prospects. Which means they can't be counted on to prop up the economy with their open wallets...
Another bad week for the markets seemed ready to end with another glum day Friday, with the NASDAQ testing year-old lows again and the Dow giving up 200 points under the weight of tearful earnings reports from Motorola and Sun. The S&P even ushered in an official bear market, hitting 20 percent losses off its highs, but as TIME columnist Dan Kadlec points, we knew that already...