Word: nyse
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...NYSE chief Richard Grasso vows to anyone who asks that when the doors swing wide Monday and the opening bell rings at 9:30 a.m., the granite heart of American capitalism will pump money and investments just like it has always done. That when Mr. and Mrs. Public phone their broker or log onto their eTrade account to look to their retirement, the call - and the trade - will go through...
...Jones Industrial10,007.33 +174.82 S&P 500 1,321.12 +27.40 NYSE 614.63 +9.64 Nasdaq 2,560.06 +66.69 AMEX...
INDEXCLOSE CHANGE Dow Jones Industrial 8986.64 +118.32 S&P 500 1120.01 +11.86 NYSE 582.04 +5.63 Nasdaq 1852.96 +5.30 AMEX...
...floor of the NYSE, traders had been edgy for days. It didn't help matters that on Friday, the U.S. market fell even though Hong Kong's battered Hang Seng index had rebounded sharply. That rebound was widely dismissed as a "dead-cat bounce," a graphic trader's term that refers to the notion that even a dead cat will bounce a little if it falls far enough. Arthur Cashin, vice president of PaineWebber and director of the firm's floor operations, concluded that "there was more work to be done on the downside...
Richard A. Grasso, NYSE chairman and CEO, remembers taking note of the situation on Friday, but not feeling any particular concern about how the market would behave come Monday. "There was a choppiness," Grasso told TIME. "There was a feeling that we had had two bad days. There was a feeling that the markets were weak in Asia and that there might be a spill-back. But no one expected a 550-point drop." Grasso felt confident enough to fly to Paris over the weekend for a Monday meeting. He was interrupted at 2 p.m. Monday in Paris...