Word: mid-may
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...stocks rebounded, at the end of June, from their spring collapse. On top of the 12.01-point jump the week before, the Dow-Jones industrial average moved up another 10.98 points last week, to close at 918.95- only 20.67 points, or 2.2%, below its alltime high of 939.62 in mid-May. The two-week gain gave investors $11.5 billion in paper profits, brought the market's recovery to a point where nearly 80% of its May-June losses were erased. The advance was also marked by heavy trading, a good indication that the advance had broad support; last week...
...worst fall since President Kennedy's assassination, and closed at a ten-month low of 840.59. At that point, stocks had been marked down so much that shares in the Dow-Jones index were priced at a low 16 times earnings v. 19 when the slide began in mid-May. A lot of investors, principally the big institutions, just could not resist the bargains...
...close still left the industrial average some distance from mid-May's all-time high of 939.62, and few brokers expect that it will get back there soon. Many of them look for the market to meet resistance when it reaches the 890 level. Reason: a lot of individual buyers are waiting for stocks to rise just a bit more before they sell out and take their profits. For those in a buying or switching mood, brokers are generally recommending some oil, airline and insurance stocks, which have sold off more sharply than the market as a whole...
...week, sold off heavily on one day and closed the week with a loss of 24.75 points on the Dow-Jones industrial average. At 854.42, the market had reached its lowest point in ten months, was no longer within hailing distance of the 939.62 high it had hit in mid-May...
President Johnson's conservation program will presumably get under way in mid-May at a White House conference on natural beauty under the chairmanship of Laurance Rockefeller, chairman of the New York State Council of Parks and citizen conservationist No. 1 (he has personally presented the nation with some 6,000 acres of national-park land...