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...easing borrowing costs might prevent the U.S. from slipping into recession. "They did the bare minimum they could to tell the markets they were concerned," saysTIME's Suneel Ratan. It seems to be working: while at least two major banks reduced their consumer loan rates to 8.75 percent, the Dow Jones Industrial Average surged more than 48 points to close at another record 4,664. But Ratan notes that the markets were counting on the move: "Ordinarily, the impact of Fed cuts is not felt for 16 to 18 months.But longterm interest rates have dropped in anticipation...
Stocks advanced during a shortened trading session on the eve of the Fourth of July holiday. The Dow Jones Industrial Average rose 29.05 points, finishing at 4585.15 when the market closed at 1pm. Just 117.14 million shares were traded, compared with 311.37 million last Friday. Standard & Poor's 500 stock index advanced 2.34 to 547.09, while the New York Stock Exchange composite index climbed 1.15 to 292.99 and Standard & Poor's 500 list advanced 2.34 to 547.09. Gainers outnumbered losers by about 4 to 3 on the NYSE. The Nasdaq composite rose 1.08 to 934.53. At the American Stock Exchange...
...promised. "There are just too many sick women," Ralph Knowles, the plaintiffs' attorney in the class-action suit, announced today. "I didn't think it was going to be anything like that. If I did, we would never have agreed to the $4.25 billion." Discussions are underway to convince Dow Corning, Bristol-Myers Squibb and other implant makers to add billions more to what is already the largest product-liability settlement in U.S. history. A partial analysis of claims finds that more than 70,000 women likely would be eligible to get money in the first wave of payments. Women...
...then, the University had been through the mobbing of Defense Secretary Robert S. McNamara, the Dow Chemical sit-in, the Paine Hall protest, the University Hall occupation, the Bust, the Strike and a score or more of other incidents...
Going to business school still seemed like adefiant political statement that many didn't wantto make. Those who did had in some ways the lastlaugh as we moved into our 30s and the Dow movedinto the thousands...