Word: stockely
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Dates: during 1970-1979
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...Stock market's sag caps a dozen years of declining clout...
...annual rate of 4.9%, the lowest monthly increase since December; housing starts jumped to an annual rate of more than 2 million, a cool 46% ahead of a year earlier; corporate profits increased 11.4% in the second quarter. But all this was lost on Wall Street, where stock traders continued to fret about everything from interest rates to new tax legislation. The Dow Jones industrial average, the market's most widely watched barometer, dropped 7.62 points last week, to 863.48, its lowest since the first day of trading in January...
...aberration? Hardly. Though economic recovery is continuing, stock prices have been sinking all year; the Dow is now more than 14% lower than it was on New Year's Eve. And the 1977 sag only climaxes a decade of disappointment. Indeed, the stock market, once a great driving force and sensitive indicator of the U.S. economy, has been steadily losing its vigor, and its hold on investors' minds, for most of the past dozen years...
...still has to be considered is the question of what advantage this may give to foreign companies" if they are less scrupulous about making under-the-table payments to aircraft buyers. Investors obviously are not worried. Although payment of a dividend is a long way off, Lockheed's stock has about doubled in price this year, to around $ 18 a share...
...inventor of the Teletype machine used to transmit news around the globe; of heart disease; in Canaan, Conn. A tinkerer as a child, Kleinschmidt was only 15 when he began work on the Teletype, an invention that eventually made him a multimillionaire. Among his 100-odd patented inventions: the stock market ticker, an automatic fishing reel, a police radio-teleprinter and a macaroni-twisting machine...