Word: stockely
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Dates: during 1970-1979
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...inflation, interest-rate and stock-price figures offer no cheer...
...impact of the dollar crisis and rising interest rates on the stock market has been devastating. The Dow Jones industrial average lost 55 points in the first seven days of trading this year; last week it closed at a 33-month low of 775.73. Many Wall Streeters believe the market is now oversold and some rebound in stock prices can be expected. But if the market is to recover over the long run, the Administration must find a way to restore investor confidence. Warns Mark Collins, vice president of the investment bank of Kidder, Peabody: "The stock market is saying...
...Economy With unemployment high, the dollar low and the stock market in distress, the economy will be Carter's sternest trial and the main focus of his policies this year. The $25 billion tax cut that he will propose this month is designed to revive business confidence, spark more spending on plant and equipment and head off a slowdown in growth that many economists expect late in 1978. Meanwhile, inflation shows signs of moving up again, fueled partly by measures that Carter either initiated or supported, including higher farm price supports and a steeper minimum wage...
Miller's first challenge will be to establish himself as a competent, forceful leader. The importance of his doing so was underscored last week by a sharp drop in the stock market. The Dow Jones industrial average tumbled almost 38 points to close the week under the 800 mark at 793.49. The drop occurred mostly because of worries about the dollar, but also partly because of uncertainty about Miller and what policies he will follow. In addition, businessmen will be watching Miller's performance in checking inflation for clues as to whether to launch plant expansion and modernization...
...well as skill to see that it actually gets carried out. During 1977 money supply bounced around wildly, rising at an annual rate of over 19% in April, but falling at a 1.8% rate in November. The swings puzzled and frightened investors and were a contributing factor in the stock market's decline. One reason for the gyrations is that velocity-the speed with which money changes hands-speeded up and slowed down unpredictably. A change in velocity can cause the Federal Reserve's maneuvers in buying and selling Government securities to expand money supply either much more...