Word: spurts
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...Hobbs and William Riley, professors of statistics and finance at West Virginia University. In a study of election-time stock behavior since 1900, they found that the market usually rises in the days just after the presidential voting. Their explanation: the uncertainty of the campaign is over. That temporary spurt generally lasts longer if the Republican candidate wins. Should investors want to rely on historical patterns, counsel Hobbs and Riley, they should sell on the 27th day after a Reagan victory, but only three days after a Mondale upset...
Despite forebodings about the deficit, the economic recovery has been stronger than any other expansion in the past three decades. Growth in the gross national product this year is now projected to be about 6%, considerably higher than the 4% to 5% that many economists originally predicted. That spurt helped reduce the deficit to an estimated $174.3 billion in fiscal 1984, from a record $195.4 billion in 1983. Most economists, though, fear that deficit spending has fueled a false prosperity that will soon fade. Already, progress against unemployment shows signs of coming to a halt. The civilian jobless rate declined...
...place of intelligent argument--beaten at his own game by a man who was ready to crucify himself on the cross of rational discourse. What guilty pleasure to watch the President of the most powerful country in the free world fumble with his adjectives, sweet through pregnant pauses, and spurt out meaningless figures when faced with the simple question of what he felt about abortion...
...argument among investors and market watchers is whether they are witnessing just a brief spurt or a true second leg on the bull market that would take the averages even higher. John Paulus, the chief economist for Morgan Stanley, the investment banking house, had a note of caution. Said he: "The economy still has a good deal of upward momentum, which will have to be moderated by rising interest rates at some point. The gross national product rose 8.8% in the first half of the year and is now moving ahead at between 4% and 5%. That is still...
...golden age" before the first oil crisis in 1973, the slow upward creep of unemployment-now at 12.5%-has not halted. The problem, according to Brittan, is that labor is taking the fruits of the economic upswing in the form of higher pay rather than in more jobs. The spurt in corporate profits, up 25% last year and expected to continue rising, could gradually encourage employers to hire more workers, Brittan believes...