Word: sluggish
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Optimistic that the Federal Reserve Board will soon cut interest rates to spur a sluggish economy, investors pushed the Dow Jones industrial average further into record territory Monday. The Dow rose 33.23 to end the day at 5,304.98. The New York Stock Exchange composite index gained 1.36 to finish at 334.20. On the Big Board, advancers led decliners 1,322 to 969, with 793 unchanged. The technology-heavy Nasdaq composite index rose 1.37 to close at 1,042.33. The Standard & Poor's 500 stocks gained 2.59 to 624.21. The American Stock Exchange market value index gained 2.42 to close...
...Jones industrials will earn a combined $347.50 per share in 1996. If these 30 stocks sell for an average of 171/2 times earnings, we might even see a 20% gain in stocks and a 6000 Dow in 1996. But this is where the doubts creep in, owing to the sluggish economy and the silence at the cash registers...
...earnings, which sooner or later lead to lower stock prices, so Grant expects that the owners of stocks will have less to show for their investment than the owners of suits. Wall Street money manager Marty Zweig, a chronic pessimist, sees the current situation more optimistically. He thinks the sluggish economy will keep interest rates low, which in turn will drive stock prices higher, at least for a while...
...Gold. A sluggish U.S. economy won't do much for gold, but billions of Asians are heading for the jewelry stores. They have cash in their pockets and not many places to spend it, and they do not necessarily trust the local currency. So they are buying gold, which will tend to drive up the price...
RETAIL WORKERS Sluggish sales spur major layoffs, topping 300 per business...