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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.
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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.
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 BLOOMBERG BUSINESS NEWS | May 18, 1996
NEW YORK -- U.S. stocks soared into record territory again yesterday, bolstered by stable interest rates and fueled by record purchases of stock mutual funds.The Standard & Poor's 500 index and the Nasdaq composite index set records, as did the American Stock Exchange's market value index and the Russell 2,000 index, which tracks small and mid-size companies.With Philip Morris Cos. and International Business Machines Corp. leading the way, the Dow Jones industrial average rose 52.45 to 5,687.
BUSINESS
By BLOOMBERG NEWS | November 19, 1997
NEW YORK -- U.S. stocks fell yesterday for the first time in four days amid lingering concern that slowing Asian economies will cut U.S. corporate profits. Avon Products Inc. plunged after warning of lower overseas earnings.The Dow Jones industrial average fell 47.40 to 7,650.82, after rising 4 percent in the last three days. The Standard & Poor's 500 index fell 7.97 to 938.23. The Nasdaq composite index lost 13.67 to 1,600.44.Schlumberger Ltd. and other oil field service and equipment stocks, some of this year's best-performing shares, tumbled the most as investors sold them in favor of other shares with more potential for gains.
BUSINESS
By BLOOMBERG NEWS | January 1, 1999
NEW YORK -- U.S. stocks were mixed yesterday, but the Nasdaq composite index, full of software, semiconductor and computer makers' shares, set another record. It rose 25.74 to close at 2,192.69 and finish the year with a 40 percent gain.The Nasdaq-100 index of the Nasdaq market's largest stocks finished the year up 86 percent, the best showing in its 14-year history.Large shares fell, but small companies had their best day in two months as investors completed tax-related selling on the final day of 1998.
BUSINESS
By BLOOMBERG BUSINESS NEWS | January 22, 1997
NEW YORK -- U.S. stocks set several records yesterday, as Chrysler Corp. and Exxon Corp. added to the steady stream of unexpectedly strong fourth-quarter profits."
BUSINESS
By BLOOMBERG NEWS | May 9, 1997
NEW YORK -- U.S. stocks jumped yesterday as bonds rose and optimism reigned for corporate profits.Oil, telephone and computer companies all gained. The Dow Jones industrial average rose 50.97 to 7136.62, snapping back from Wednesday's 140-point swoon. Computer-guided "sell" programs in the last half-hour cut the Dow's gains by half.International Business Machines Corp. paced the advance, rising to $167.375.The Standard & Poor's 500 index rose 4.66 to 820.28, as Exxon Corp., Wal-Mart Stores, Intel Corp.
BUSINESS
By BLOOMBERG NEWS | September 23, 1998
NEW YORK -- U.S. stocks were mixed yesterday as investors bought drugmakers such as Pfizer Inc. as havens from slowing )) economies worldwide.Coca-Cola Co., which gets 85 percent of its revenue abroad, dragged down the Dow Jones industrial average. The Dow fell 36.05 to 7,897.20, with Coke accounting for almost one-third of the drop.The Standard & Poor's 500 index rose 5.74 to 1,029.63. The Nasdaq composite index climbed 17.37 to 1697.80.Among other broad indexes, the Russell 2000 index of small companies outperformed the Dow, S&P 500 and Nasdaq, rising 5.60, or 1.5 percent, to 368.24; the Wilshire 5,000 index gained 71.12 to 9,452.
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