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BUSINESS
By BLOOMBERG NEWS | December 6, 1997
NEW YORK -- U.S. stocks rallied yesterday after a Labor Department report showed a surprisingly large jump in employment.The Standard & Poor's 500 index set a record for the first time in almost two months, climbing 10.69 to 983.79, its first record since Oct. 7. Oil industry shares such as Exxon Corp. and Rowan Cos., which do best when the economy is expanding, led the gains.The Dow Jones industrial average rose 98.97 to 8,149.13. The Dow gained 326 points this week, its best weekly performance since mid-June, and is 110 points from its record high.
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BUSINESS
By BLOOMBERG NEWS | September 20, 1997
NEW YORK -- U.S. stocks were mixed yesterday as rising bank and consumer issues softened the blow delivered by Union Carbide Corp., which warned of weak sales ahead."
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 BLOOMBERG NEWS | August 23, 1997
NEW YORK -- U.S. stocks fell yesterday for a second day, although the Dow Jones industrial average recovered 170 points of losses in a late-day surge.Investors snapped up battered stocks such as AlliedSignal Inc. and International Business Machines Corp. in the last hour of trading, helping the Dow finish the day down 6.04 at 7,887.91 after having fallen 177."This market has an awful lot of resilience; it amazes everybody," said Warren Simpson, a managing director at Stephens Capital Management Inc. in Little Rock, Ark., which manages $600 million.
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 NEWS | February 5, 1998
NEW YORK -- U.S. stocks rose yesterday, with all major indexes climbing except the Dow Jones industrial average. The Standard & Poor's 500 index advanced to its third straight record, as investors shoveled money into Cisco Systems Inc. and other technology shares.The Nasdaq composite index was up nearly 1 percent on optimism that computer companies' earnings already have seen the worst from Asia's economic slowdown. And Federal Reserve policy makers aided the market by leaving the benchmark overnight bank lending rate unchanged at 5.5 percent.
BUSINESS
By BLOOMBERG NEWS | February 8, 1997
NEW YORK -- U.S. stocks surged in a seesaw session yesterday as a government report showing unexpectedly weak wage growth buoyed optimism for lower borrowing costs and rising profits.The Dow Jones industrial average rose 82.74 points to 6,855.80, led by American Express Co. and International BusinessMachines Corp. The Standard & Poor's 500 index rose 9.41 to 789.56, beating Tuesday's record by three-tenths of a point.Earlier, the Dow industrials had been up 95 points after the government's monthly wage and unemployment report, then lost the entire gain and 10 points more after Treasury Secretary Robert Rubin raised concern that a declining dollar would decrease the allure of U.S. assets for foreign investors.
BUSINESS
By BLOOMBERG NEWS | August 30, 1997
NEW YORK -- U.S. stocks fell yesterday, concluding their worst month in seven years, on concern that Coca-Cola Co. and other big stocks that led the market's surge to records are too expensive, given their earnings prospects. Small and computer-related stocks rose."Investors continue to take money out of the big stocks, which have had the biggest gains in recent years," said Bill O'Hearn, a money manager with Anchorage-based McKinley Capital Management, which oversees $1.2 billion. "They're flocking to the computer stocks, which they think will have better-than-expected earnings."
BUSINESS
By BLOOMBERG NEWS | February 12, 1997
NEW YORK -- U.S. stocks rose yesterday, powered by a late-day rebound in International Business Machines Corp., as investors reappraised the profit outlook for the bellwethers of the computer industry.Cisco Systems Inc., Microsoft Corp. and other computer shares recovered from a sell-off that began last week when analysts warned that Intel Corp. may not duplicate its 1996 growth rate. Semiconductor and software stocks led the market to records last year.The Dow Jones industrial average closed 51.57 higher at 6,858.
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.
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