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By Bloomberg Business News | March 12, 1993
NEW YORK -- Stocks fell yesterday for the first time this week amid discouraging news about the economy."Investors backed away from this market after watching it hit all-time highs for three straight days," said Jon Groveman, president of Ladenburg, Thalmann & Co.The Dow Jones industrial average dropped 21.34 points, to 3,457.00. The Dow bounced from a session high of 3,479.69 to a session low of 3,450.51 before closing down on the day. It was only the third time in the past 12 sessions that the Dow has declined.
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BUSINESS
By BLOOMBERG NEWS | May 1, 1998
NEW YORK -- U.S. stocks rallied again yesterday, sending the Dow Jones industrial average to its biggest gain in four weeks, after reports showing fast economic growth with little inflation made it more likely that interest rates will remain tame and earnings robust.General Electric Co., Coca-Cola Co. and Merck & Co. led an advance that enabled the Standard & Poor's 500 index to finish April with a 1 percent gain rather than a 0.7 percent loss.The 30-stock Dow average rallied 111.85 to 9,063.
BUSINESS
By Bloomberg Business News | August 17, 1995
NEW YORK -- U.S. stocks rose yesterday as technology shares rallied, sending the Nasdaq composite index to its second record high this week, after Applied Materials Inc. and Hewlett-Packard Co. posted better-than-expected earnings.Applied Materials announced last night that demand for computer chips helped it to more than double its earnings last quarter. The company's shares, among the most actively traded on U.S. exchanges, surged $14.50, to $118.25. And Hewlett-Packard's shares soared $4.50, to $82.375, after the computer maker reported earnings rose 66 percent last quarter.
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 NEWS | October 14, 1998
NEW YORK -- Stocks fell for the first time in three days on concern that slower growth worldwide may continue to crimp profits. Eastman Kodak Co. led the Dow Jones industrial average lower after a larger-than-expected drop in sales.The Dow average fell 63.33 points, or 0.8 percent, to 7938.14 yesterday. The Standard & Poor's 500 Index fell 2.91, or 0.3 percent, to 994.80. The Nasdaq Composite Index fell 36.63, or 2.4 percent, to 1509.45, reversing a two-day rally.Analysts expect companies in the S&P 500 to report that earnings declined an average 3.2 percent from a year ago as slowing economies in Asia and Latin America drag on U.S. growth, according to First Call Corp.
BUSINESS
By BLOOMBERG NEWS | December 17, 1997
NEW YORK -- U.S. stocks rose for a second day yesterday, as a rally in South Korean markets gave investors confidence to buy beaten-down stocks such as Global Marine Inc. and Cisco Systems Inc."Many stocks were down the last few days, and investors who have a time horizon of more than a week saw an opportunity," said Philip Schettewi, who oversees $4 billion as chief of the Washington, D.C., office of Loomis, Sayles & Co. "It's another case of investors buying on the dips, which overall has been a good strategy."
BUSINESS
By BLOOMBERG NEWS | February 7, 1998
NEW YORK -- U.S. stocks rose yesterday after the government said the economy created more jobs than expected in January. Procter & Gamble Co., Caterpillar Inc. and Sears, Roebuck & Co. gained on optimism that sales will improve in coming months.The Dow Jones industrial average climbed 72.24 to 8,189.49, the closest it's gotten this year to its Aug. 6 record of 8,259.31; the Standard & Poor's 500 index rose 8.92 to 1,012.46, its fourth record close this week; and the Nasdaq composite index gained 17.45 to 1,694.
BUSINESS
By BLOOMBERG NEWS | October 22, 1998
NEW YORK -- U.S. stocks rose for a sixth straight day, after Microsoft Corp. and International Business Machines Corp. reported better-than-expected quarterly profits."
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.
BUSINESS
By BLOOMBERG NEWS | March 21, 1997
NEW YORK -- U.S. stocks fell again yesterday after Federal Reserve Chairman Alan Greenspan signaled that the central bank is poised to raise interest rates to head off a run-up in inflation.A rebound in computer-related shares such as Sun Microsystems Inc. and Cisco Systems Inc. helped temper the drop in the broad market, and sent the Nasdaq composite index up 9.97 to 1,259.26, its first gain in eight days.The Dow Jones industrial average fell 57.40 to 6,820.28. The 30-stock average has lost 135 points, or 1.9 percent, in three days on concern that interest rates could be headed higher.
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