Word: stocked
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Dates: during 1970-1979
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Even on a routine and relatively quiet day, the floor of the New York Stock Exchange is like an anthill that has been suddenly kicked open. Men in suits from Brooks Brothers and F.R. Tripler move briskly from booth to trading station, clutching slips of paper. Clerks in blue and tan cotton jackets flit about trying to keep up with orders. Messengers dart in and out of the trading area, while overhead, in symbols seemingly as cryptic as the writing that appeared on the walls of Belshazzar's palace, projectors display the quotations off the stock tapes...
...early afternoon, the market was down 20 points and the tape, which had already been delayed half a dozen times, was running nearly half an hour behind the trading. As it did so, the tension increased. At one booth, a cheer went up as a stock that had been doing poorly all morning started to rise. The cheer turned to silence and then to boos as the stock, like a plane that has suddenly stalled, winged over and began to fall. At a trading station, a specialist berated a clerk who had just placed a slice of pizza...
...very much along that line. They will give the domestic public and foreigners the sense that we really are going to come to grips with inflation." Grove concedes that a dramatic and determined" credit squeeze would depress business activity and push up the unemployment rate. He also thinks the stock market had good reason to flop: "Some of the doubting Thomases who believed we would have at most a mild recession now realize we are going to have a real recession that could significantly reduce profits." Nonetheless, Grove, like Sprinkel, believes that the recession will be less severe than...
...term instruments quickly matched the one-point rise in the discount rate. See story on page 2. Foreign-exchange traders, happy about the Fed's actions, sent the U.S. dollar up by 2%; gold fell more than $17 an ounce. See story on page 3. But the U.S. stock, bond and commodities markets were less sanguine. See stories on pages...
...Roman Catholics take stock of John Paul's tough messages...