Word: wednesdays
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...stock market rose powerfully on Wednesday, with the Dow jumping 3.1% to 8,617 and the small-stock Russell 2000 index rising 3.9%. That's more than most bond funds return in a full year, and it was the best daily performance in the last three months for many market indexes, including the Dow and the S&P 500; the broad S&P index is up 6% this week alone...
...Market sentiment was boosted earlier in the week by a surprisingly good profit report from Goldman Sachs, which logged second quarter earnings of $3.4 billion and an eye-popping return on equity of 23%. Investors got a second round of heartening news on Wednesday morning when Intel reported sales that were 10% better than analysts had been expecting; Intel's earnings also beat expectations by a wide margin and the company offered encouraging guidance about the third quarter. The chipmaker's shares rose more than 7% Wednesday, putting the stock's rise so far this year at 25%. Intel...
...latest news on the economy, though not positive, was at least benign, and that helped ease investor anxiety. Industrial production, reported Wednesday morning, is still declining, though the pace of decline is the slowest in eight months, adding another green shoot to the optimists' garden. A further boost to investor confidence came from just released minutes of the June meeting of the Federal Open Market Committee. The minutes revealed that most Fed officials believe the 18-month old recession is nearing...
...Late Wednesday, investigators grimly announced that at least 50 graves had been disturbed. Four of the cemetery's employees, including its former manager, were swiftly arrested on an assortment of charges, including dismembering a human body. The most obvious motive was simple greed. Space was not an issue: there are still vast stretches of unused land at the cemetery, which opened in the 1950s and is predominantly African American...
...where they earn a monthly salary, then at the customer's hotel, where they negotiate their own rates. But as cash-strapped travelers turn their backs on Thailand - tourism officials say revenues will plunge 35% this year - the ranks of men cruising Patpong have thinned dramatically. On a recent Wednesday evening, just three tourists watched a visibly disgruntled Goy wiggle around her pole. "I haven't had a customer in five nights," she says, "and I'm lucky if someone buys me a drink." (See pictures of Thailand's Pattaya resort...