Word: indexable
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Since December, when the Dow-Jones industrial index hit an alltime high of 734.91, it has dropped with a speed that has left many a stomach queasy. Fortnight ago, the index fell even farther than it had in the week following Dwight Eisenhower's 1955 heart attack (see chart...
Then on Monday, May 14, came what Wall Streeters hopefully called "the selling climax." In one furious hour during the morning, selling reached near-panic proportions. The index went into a 14-point tailspin to a low of 626. The highspeed Teletype tape that reports New York Stock Exchange transactions was so swamped that it fell 34 minutes behind-its worst performance in nearly 30 years...
While in flight, Harkins put on his glasses, made notes on index cards for a speech to be made to a new contingent of U.S. officers arriving next day. In clear block letters he jotted down such phrases as "Remember you are not commanders," "Diplomat discreet," and "Def . . . Lem . . . Felt . . ." In other words, he intended to tell the new men not to give orders to the Vietnamese, only to advise; they are to work hard to get along with their Vietnamese counterparts; and Defense Secretary McNamara, General Lyman Lemnitzer and Admiral Harry Felt were all arriving in a week...
...week that left even Wall Street professionals bemused and confused, the stock market bobbed down, up, down like a Yo-Yo-and to as little apparent purpose. When the hectic action ended, the Dow-Jones industrial index stood nearly six points above its level at the beginning of the week-but more than 50 points below its level in mid-March...
Bearing out the national income system's noninflationary message last week was more prosaic evidence detectable in every pocketbook. Though the consumer price index edged up in March to a record 105% of the 1957-59 average, its total increase since March 1961 has amounted to only 1.1%. And since 1960, the value of the dollar has been eroded only 1.8%, v. 3.7% between...