Word: dow
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Dates: during 1960-1969
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Businessmen see the signs of decline in their sluggish sales and softening profits. Investors discern the portents in falling stocks; the Dow-Jones industrial average has dropped 9% in the past five weeks to a three-year low. The Consumer Confidence Index, measured by the highly regarded University of Michigan Research Center, has plummeted from 95 in January to 79.7 now. President Nixon's economic policymakers recognize the signs of danger. "We are now at a critical period of economic events," says Budget Director Robert Mayo. "The economy is in a state of delicate balance...
...stock market, a leading indicator that often foretells the economy's performance in months to come, shuddered through a disastrous year. The Dow-Jones industrial average dropped 19%, from a May high of 969 to a December low under 784. The conglomerates took a beating; LTV and Gulf and Western dropped more than 50% from their year's highs. Among the blue chips, strike-troubled General Electric has sunk to 79 from a historic high of 120 in 1965, California Standard to 49 from a high of 86 in 1966, Allied Chemical to 24 from 66 in 1961, Du Pont...
...stock market, December opened as anything but the accustomed month of year-end price rallies and fat Christmas bonuses. The Dow-Jones industrial average has plunged 70 points in less than a month. Last week it broke below the 800 mark, at which all earlier slides in 1969 had been stopped. It closed at 793, the lowest level in nearly three years. For investors who had put their faith in some popular blue chips, the story was even glummer. During the week, General Electric stock sold at its lowest price since 1963; Union Carbide was the lowest since...
...drop in the Dow-Jones to below 800, which was widely heralded as an important psychological resistance point, did not touch off any heavy selling. Still, brokers drew little comfort from that fact. Some would have preferred a burst of aggressive selling that might have cleaned out the pessimists and set the stage for a price rally-instead of the fairly steady, day-by-day erosion of prices on fairly light trading volume. Prices were weak principally because investors had the feeling that inflation was not being defeated and that the Government would have to continue strangling credit and pursuing...
...statement is a classic example of the thinking now creating turmoil in U.S. financial markets. Attention has focused on its impact on the stock market, where traders are increasingly depressed by the fear that inflation, and with it tight money, will continue indefinitely. In the past three weeks the Dow-Jones industrial average has dropped almost 50 points, to last week's close of 812, barely above the year's low. Trouble is much worse in the bond and mortgage markets, the nation's primary channels for funneling savings into the construction of schools, homes, factories, stores...