Word: peak
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...next year. Even that modest pickup may be enough to cause a slight drop in the unemployment rate. Board members estimate that in 1986 the rate of joblessness will fall to 6.8% from today's 7% level. The current rate represents a marked decline from the November 1982 peak...
...acquisition binge, however, overjoys Wall Street, where it has helped drive stock prices to record highs. In recent weeks the Dow Jones industrial average has scaled one peak after another. Last week was the busiest in the history of the New York Stock Exchange, as the Dow jumped 58.03 points, to close at 1535.21. "The windfall profits from merger offers have sent a fever through the market," said Byron Wien, a Morgan Stanley analyst. In a recent study, the Goldman Sachs investment banking firm estimated that corporate takeovers have been responsible for nearly three-quarters of all stock gains since...
...market begins." A price war would be a risky, last-ditch change in strategy for OPEC, which has been floundering in an ocean of crude. For the past four years OPEC has tried to shore up prices by limiting the worldwide oversupply. The cartel squeezed its output from a peak of nearly 32 million bbls. per day in 1979 to just 18 million now. But such competitors as Britain and Mexico defeated that strategy by selling more oil. Like a lonely gas- station owner watching all the cars whiz by, OPEC cannot figure out how to stop its rivals down...
...crude before the price of such consumer products as gasoline and heating fuel would be affected. Refiners tend to delay passing along the savings to customers until competitive pressure forces them to do so. Yet gasoline prices, which currently average $1.21 per gal. in the U.S. compared with a peak of $1.42 in March 1981, could fall about 2 1/2 cents for every $1 decline in crude prices. The response of heating-fuel prices to an oil-price drop depends partly on the weather. A particularly cold winter would keep supplies tight and prices up, while a warm one would...
...inhabitants of earth, the third closest planet to the star, the long- awaited spectacle had begun. After a 75-year sojourn through the solar system, Halley's (rhymes with valley's) comet had again swung into view, but just barely. At Kitt Peak National Observatory near Tucson one night last month, several large telescopes tracked the approaching comet, projecting images that flickered across television monitors. But like countless amateur stargazers around the world, the astronomers wanted to see the cosmic celebrity with their own eyes. Huddled in the chill mountain air outside an observatory dome, necks craned, binoculars raised, they...