Word: indexable
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...Pfister adds, "We're not sure that we've resolved what this index is."CrimsonLisa BermanFirst in a three-part series fewer than five percent of residents...
Many small investors have been buying the so-called go-go issues in hightechnology industries. Busy trading in such shares has helped push some stock indexes to new peaks. "If you just followed the Dow," says Prudential- Bache's Wachtel, "you would have missed the parade." Last week both the Standard & Poor's index of 500 stocks and the New York Stock Exchange composite of 1,200 issues reached record highs...
...binge continued at midweek when the Dow Jones index jumped an additional 15.23 points, to 1274.73. Suddenly the record of 1287.20, set Nov. 29, 1983, seemed within easy reach, and predictions of a new peak were popping up all over Wall Street. At week's end, though, the Dow closed...
...sharp run-ups persuaded many experts that the long-awaited second leg of the bull market was at hand. Since surging 64% to 1258.51 between August 1982 and July 1983, the Dow Jones average has been drifting. After an 87.5-point leap during a single week last August, the index finished 1984 in the 1200 range. Analysts last week were confident that the next move would be up. "The Dow will hit 1300 before it sees 1200 again," predicted Peter Furniss, senior vice president for Shearson Lehman/ American Express. David Jones, chief economist for Aubrey G. Lanston & Co., believes...
...differences between the various market barometers lead some market watchers to dispute the value of the Dow index altogether. The widely watched indicator consists of stocks of 30 major companies, including IBM, Eastman- Kodak and Minnesota Mining & Manufacturing. "You can no longer tell what 35,000 stocks will do by watching just 30 stocks," says Wachtel. Philip Fernandez, an institutional analyst at Bateman Eichler, Hill Richards, agrees: "The Dow is too exclusive and too narrow...