Word: indexers
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Dates: during 1960-1969
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Administration to believe that the outlook for business is undeniably bullish. ∙INDUSTRIAL PRODUCTION. Like most of the indicators, once lackluster industrial production is joining the general upswing. Having slumped from its December peak of 159 (based on the 1957-59 standard of 100), the index for output in July recovered and climbed back to 156.3. Lending a helping nudge were major strike settlements in the television and rubber industries. In July there were also rises of 3.6% in mining output, 3% in electrical machinery production and 2% in auto manufacturing...
...drop on other occasions is required to do penance by prostrating himself across the doorway of his abbey's refectory or sanctuary. As a substitute for the spoken word, a rudimentary sign language is the custom. For example, two fists struck against each other vertically means "work"; the index fingers and thumbs formed into a diamond signifies "bread." But in today's complex world, with Trappists operating farms and small industries, sign language is not enough. Says one Catholic prelate: "A few years ago we still used horses, but how is a monk supposed to explain a breakdown...
...years ago. At Manhattan's Mount Sinai Hospital, it costs $410 to have a baby, compared with $250 in 1957. At Houston's Methodist Hospital, patients are billed 25% more for anesthesia than in 1962. Everywhere, the story is the same (see graph). While the consumer price index rose 19% in the decade ending last year, U.S. medical costs shot up 42%. Just since 1966, hospital charges have jumped...
...stock market. For the second week in a row, prices surged ahead and trading volume on the New York Stock Exchange climbed to a new record, 58,194,770 shares, an avalanche that strained the facilities of banks and brokerage houses. The Big Board's year-old composite index of all common-stock issues on three straight days eclipsed its May 8 peak of $51.93, reaching $52.18 at week's end. Reflecting a suddenly renewed popularity among blue-chip issues, the better-known Dow-Jones industrial average rose every day for a 27.51-point gain on the week...
Some Disparities. The reviving fortunes of the blue chips reduced-but scarcely erased-this year's disparities among Wall Street yardsticks. The Dow-Jones industrial average, the oldest (71 years) and by far the most widely accepted gauge of stock performance, has lagged far behind every broader index. At week's end, the D.J. industrial average had risen 16% so far this year, but still remained well below its alltime high of 995.15 on Feb. 9, 1966. In reaching its new peak, the New York Stock Exchange index has gained 22% this year. Standard & Poor...