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By Bloomberg Business News | February 11, 1993
NEW YORK -- Stocks closed mixed yesterday amid concern that the monthlong rally in Treasury bonds has ended."The bond market's running out of gas, and that's sending a warning signal to the stock market," said Don Hays, investment strategist at Wheat First Butcher & Singer.The Dow Jones industrial average fell for the third straight day, losing 2.16 points, to 3,412.42. The decline in the Dow was led by Eastman Kodak, which fell $1.75, to $52, after the stock was removed from the "buy" list at Dean Witter Reynolds.
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BUSINESS
By Bloomberg Business News | February 27, 1993
NEW YORK -- U.S. stocks gained yesterday on optimism flowing from a government report the economy grew 4.8 percent in the fourth quarter, its best showing in five years.Trading was slowed by explosions and related fires at the World Trade Center in New York City's financial district. "It was a very slow trading day, especially after the explosion occurred," said Richard Meyer, head of institutional trading at Ladenburg, Thalmann & Co.The Dow Jones industrial average rose 5.67, to 3,370.81.
BUSINESS
By Bloomberg Business News | March 11, 1993
NEW YORK -- U.S. stocks closed higher yesterday as the market weathered concern about struggling Treasury bonds.The Dow Jones industrial average set its third successive closing high, rising 6.22, to 3,478.34. The index rebounded in the afternoon from a session low of 3,449.43. The gain followed a report released by the Federal Reserve System that showed the economy and employment conditions improving in early 1993."The economy is on frail legs, but it's recovering," said Hugh Johnson, investment strategist at First Albany Corp.
BUSINESS
By New York Times News Service | April 17, 1993
NEW YORK -- The Dow Jones industrial average closed at an all-time high yesterday -- by 0.27 point -- partly because of computerized trading programs timed to go off when the Dow approaches a high.The Dow rose 22.69 points, to 3,478.61, exceeding its March 10 high of 3,478.34. But the slight rise in the broader-based Standard & Poor's 500 index provided a better measure of what much of this week's trading seemed to be: meandering.Amid no clear indication of whether the economy is strengthening, the market's performance yesterday was a tale of these two indexes.
BUSINESS
By New York Times News Service | May 22, 1993
NEW YORK -- The stock market fell broadly yesterday in moderately heavy trading, as the "double witching hour" added a final bit of turmoil to a hectic week.The Dow Jones industrial average gyrated wildly after setting records for two consecutive days. It fell sharply after the opening bell, recovered quickly by 10 a.m., and languished for much of the day. But around 3 p.m., the Dow plunged in earnest, losing some 46 points, following a rise in gold prices in the afternoon.The Dow closed down 30.45 points, to 3,492.
BUSINESS
By Bloomberg Business News | June 4, 1993
NEW YORK -- U.S. stocks fell yesterday on concern about the economy and the direction of interest rates.Retailing issues paced the market's retreat as some of the nation's biggest chains reported disappointing May sales. "With the stock market at record levels, not having good news makes for nervous investors," said Barry Berman, head trader at Robert W. Baird & Co. in Milwaukee.The Dow Jones industrial average declined 8.58, to 3,544.87, closing above its session low of 3,531.86. Sears, Roebuck & Co. and Woolworth Corp.
BUSINESS
By Bloomberg Business News | January 22, 1994
NEW YORK -- The Dow Jones industrial average and the Nasdaq Combined Composite Index set record highs yesterday as Caterpillar Inc. and Apple Computer Inc. reported strong profits, giving further evidence of a broad economic recovery.Caterpillar's earnings helped drive the Dow up 22.52 points, to a record high of 3,914.48. For the week, the Dow added 47.28 points, and it reached its ninth record this year."Earnings are still a positive" for the market as a whole, especially stocks whose performance is tied to the recovery, said Grace Messner, vice president for equities in charge of $600 million in assets at Wilmington Trust.
BUSINESS
By Bloomberg Business News | July 6, 1994
NEW YORK -- U.S. stocks closed mixed yesterday in sluggish trading as trepidation about the outcome of this week's Federal Reserve policy meeting and Friday's release of the June employment report kept traders from making any big bets."
BUSINESS
By Bloomberg Business News | March 16, 1995
NEW YORK -- U.S. stocks slipped yesterday, one day after setting records, as a decline in Goodyear Tire & Rubber Co. hurt the Dow Jones industrial average and a loss by Motorola Inc. led technology stocks lower.Stocks got off to a weak start after the Commerce Department reported February wholesale prices rose more than expected and the dollar tumbled again vs. the German mark and Japanese yen.Even so, investors said the economy remains strong, a good sign for stocks. "There's only one thing wrong with the market today," said Thom Brown, money manager at $270 million Rutherford, Brown & Catherwood Inc. in Philadelphia.
BUSINESS
By Bloomberg Business News | July 13, 1995
NEW YORK -- U.S. stocks soared to record highs as better-than-expected earnings from Motorola Inc. helped restore confidence that second-quarter profits won't disappoint shareholders.Alliance Semiconductor Inc. and Seagate Technology Inc. added to the strength in tech stocks by posting better-than-expected earnings.The Nasdaq composite index, loaded with shares of technology companies, posted its biggest advance this year and its third-largest ever, up 18.41 to a record 988.63.Bank stocks got a big boost when First Chicago Corp.
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