Word: market
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Dates: during 1950-1959
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...Year-End Review, in which the editors scan the U.S. economy for the year just past, and present a forecast for the year ahead. Over the last decade nothing has loomed larger in the financial news than Wall Street's bull, long a symbol of a rising stock market. But to TIME'S editors the bull does not mean Wall Street alone. He is also a symbol of the power of the U.S. economy. In the past ten years TIME'S readers have seen five bulls on the cover-three with midyear stories on the state...
TIME'S first bull in June 1948 was a shaky, knobbly-kneed calf, not quite sure where he was going. The market stood at only 191.05 on the Dow-Jones industrial average, and many an economist-along with Russia's Kremlin-loudly predicted that the U.S. faced an "inevitable" postwar depression. The bull did go off his feed a bit in 1949, but it was only a mild case of colic. He kept growing and growing, appeared on the cover again in June 1950, as U.S. business kept on expanding to meet the needs of an exploding population...
...first week of 1955 the bull, full of power and bounce, symbolized the growth of business in 1954. The economy had a muscular new look; Wall Street had turned from a speculator's hunting ground into a long-term investor's market; the new "people's capitalism" was building a new economic base...
...cover this week is the fifth bull. (The first four were drawn by Artist Boris Chaliapin; this week's is the work of Boris Artzybasheff.) The theme of this Year-End Review is that the U.S. now has a new kind of stock market and a new kind of economy, to which many of the classical rules of economics no longer apply...
...sales: $430 million) has asked permission from European Coal and Steel Community to buy Phoenix Rheinrohr (sales: $390 million). Authority will probably approve. Company would rank as Europe's biggest steelmaker, producing 5,000,000 tons a year, or 25% of West German supply, 10% of European Common Market output...