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By David Conn and David Conn,Sun Staff Writer Bloomberg Business News contributed to this article | February 24, 1995
The Dow Jones industrial average, the best-known measure of the stock market's health, stormed through the 4,000 level for the first time yesterday on a wave of investor confidence about the direction of interest rates and the economy.The Dow, an index of 30 of America's biggest companies, first broke through 4,000 points at 9:58 a.m. It ended the day 30.28 points higher, closing at 4,003.33.The collapse of a 1,000-point barrier always carries some drama, but most investors consider it a purely emotional event, with no ++ practical meaning for the market.
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NEWS
By Bill Atkinson and Bill Atkinson,SUN STAFF | July 30, 2002
Stocks surged yesterday, carrying the Dow Jones industrial average soaring more than 447 points amid hopes that the market's deep and painful slide might finally have hit bottom. The Dow index of 30 large companies shot up 5.41 percent, or 447.49 points, to close at 8,711.88. It was the second time in four trading days that the Dow rose more than 400 points in a single day. Last Wednesday, it jumped 488.95 points. The index has risen more than 1,000 points, or 13.1 percent, since July 23, when it closed at 7,702.
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BUSINESS
By JULIUS WESTHEIMER | October 20, 1994
Propelled by strong third-quarter earnings reports, the Dow Jones industrial average inched closer yesterday to its all-time high. The Dow indicator climbed 18 1/2 points to close at 3,936.04, about 42 points below its peak of 3,978.36, set on Jan. 31. The Dow index swung about 50 points during yesterday's wild session.NOTES & QUOTES: "Stock prices could post double-digit gains in 1995, since stocks score the biggest gains in the year before a presidential election. Since 1901, the Dow Jones average climbed 10.9 percent on average in the third year of presidential terms."
BUSINESS
By BLOOMBERG NEWS | December 5, 2000
NEW YORK - The Dow Jones industrial average rallied yesterday as investors scooped up shares of low-priced industrial companies such as DuPont Co., Caterpillar Inc. and International Paper Co. After the stock exchanges closed, stock-index futures soared, reflecting a Florida judge's rejection of a ballot recount sought by Vice President Al Gore. Standard & Poor's 500 futures rose 13.30 to 1,343.80, and Dow average futures climbed 277 to 10,675. "I think the market is becoming more comfortable with the idea of a Bush presidency," said John Cleland, chief investment strategist at Security Benefit Group, which manages about $11 billion in Topeka, Kansas.
BUSINESS
By Julius Westheimer | June 14, 1994
Climbing for the third consecutive session, the Dow Jones industrial average gained 9.67 points yesterday and closed at 3,783.12. Losses in Exxon, Chevron and Texaco -- resulting from a $15 billion fine slapped on Exxon for the Valdez oil spill -- reduced a potentially wider gain in the Dow index. Bond prices slipped as traders worried about possible inflationary figures in today's Consumer Price Index report.MARYLAND & MORE: The T. Rowe Price International Stock Fund (1-800-638-5660) appears under "Wake Up, Baby Boomers; Here Are Mutual Funds For The Late-Start Generation" in U.S. News & World Report, June 13 . . . Regarding Delmarva Power & Light, Legg Mason says, "Concerning the acquisition of Conowingo Power Co., Delmarva expects a long-term earnings benefit as sales growth to this new area outpaces the balance of the utility's system.
BUSINESS
By JULIUS WESTHEIMER | February 7, 1995
Modestly adding to Friday's 58-point gain, the Dow Jones industrial average edged up 9.09 points yesterday and closed at 3,937.73. When Wall Street opened this morning the closely watched Dow index stood 344 points above its 12-month low and only 16 points below its 52-week high.AND NOW WHERE? "It's 'blah' for most stocks in 1995. Rising earnings and rising interest rates will offset each other, leading to a flat market." (James Chanos, manager, Kynikos Associates, the nation's largest "short-selling" firm)
BUSINESS
By Julius Westheimer | July 13, 1993
Advancing for the fourth consecutive session, the Dow Jones industrial average inched ahead 3.32 points in comparatively light trading yesterday and closed at 3,524.38. Following a disappointing earnings report Duty Free International, widely held in this area, plunged six points to close at 20 1/8 .ALL-STAR EXTRA: On the day of the first All-Star Game, Thursday, July 6, 1933 (Comiskey Park, Chicago), the Dow Jones industrial average stood at 104.98, in the early stages of a 21-year recovery from its all-time Depression low of 41.22 set one year before.
BUSINESS
By BLOOMBERG NEWS | August 6, 1998
NEW YORK -- Procter & Gamble Co., the only stock in the Dow Jones industrial average to rise on Tuesday, led the market's gainers yesterday in an up-and-down session.P&G climbed $3.8125 to $81.5625 yesterday, after expanding a $1 billion buyback program.The Dow average rose 59.47 points to 8,546.78, rebounding in the last 38 minutes of the session from a 125-point drop but finishing more than 300 points below where it began the week.The Standard & Poor's 500 index rose 9.31 to 1,081.43 and the Nasdaq composite index gained 2.56 to 1,788.
BUSINESS
By BLOOMBERG NEWS | January 1, 1998
NEW YORK -- AT&T Corp. outperformed all other stocks in the Dow Jones industrial average in the fourth quarter, amid optimism that the company's new chief executive, Michael Armstrong, is moving quickly to reverse the company's profit decline.It was the second consecutive quarter that AT&T beat the other 29 companies in the index. AT&T shares rose 41 percent for the quarter, and 77 percent for the second half, while the Dow index was virtually unchanged for the quarter and rose only 3.3 percent for the half.
BUSINESS
January 29, 1992
NEW YORK -- The Dow Jones average of 30 industrials closed at a record high yesterday based on the fortunes of two large corporations: Walt Disney and Procter & Gamble.The two companies, major components of the Dow index, saw their stocks soar yesterday following strong fourth-quarter earnings reports. They carried the Dow into record territory, closing up 31.53 at 3,272.14. That topped the previous record close of 3,264.98 set Jan. 17.But the dramatic gains weren't mirrored in the broader market, where advancing issues narrowly outnumbered declines on the New York Stock Exchange.
NEWS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 13, 2000
Escalating conflict in the Middle East, surging oil prices and a surprise warning about earnings from Home Depot Inc. sent the Dow Jones industrial average to the fifth-biggest point loss in its history yesterday. The Dow plunged 379.21 points, or 3.64 percent, to 10,034.58. On a percentage basis, however, yesterday's decline did not approach the Dow's top 25 losses. For the year, the index, which is made up of 30 large, well-known companies, has fallen 12.77 percent. The Nasdaq composite index fell for a sixth straight day and closed at its lowest point for the year.
BUSINESS
By BLOOMBERG NEWS | June 7, 2000
NEW YORK - U.S. stocks fell yesterday, ending the Nasdaq composite's index's three-day rally, amid concern that the Federal Reserve will keep raising interest rates this year. J. P. Morgan & Co. and Citigroup Inc. were among the Dow Jones industrial average's biggest losers after Merrill Lynch & Co.'s Judah Kraushaar said a slowing economy, prompted by six rate increases in the past year, will reduce bank profits. Retail stocks weighed on the Standard & Poor's 500 index. The Nasdaq erased a gain of 1.6 percent and finished down 65.39, or 1.7 percent, at 3,756.
BUSINESS
By BLOOMBERG NEWS | October 29, 1999
NEW YORK -- Microsoft Corp., the world's most valuable company, doesn't plan to move the listing of its shares to the New York Stock Exchange from the Nasdaq Stock Market, Chairman and Chief Executive Bill Gates said yesterday."
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | October 27, 1999
Microsoft Corp., Intel Corp., SBC Communications Corp. and Home Depot Inc. will join the Dow Jones industrial average Monday -- bumping out such longtime stalwarts as Sears, Roebuck & Co. -- as the nation's oldest stock-market index embraces the "New Economy" of America.Leaving the Dow will be, in addition to Sears, chemical maker Union Carbide Corp., Goodyear Tire & Rubber Co. and Chevron Corp., a major petroleum refiner.The selection of Intel and Microsoft, both of which trade on the Nasdaq, marks the first time the Dow industrials have included companies not listed on the New York Stock Exchange, scratching a long-standing tradition that kept some of the most dynamic names in technology and the overall economy from being reflected in Wall Street's best-known barometer.
BUSINESS
By BLOOMBERG NEWS | April 29, 1999
NEW YORK -- The Dow Jones industrial average climbed to a second straight record yesterday, as investors bought shares of manufacturers such as Alcoa Inc. and DuPont Co., encouraged by reports indicating faster growth in U.S. factory orders and Japan's economy.America Online Inc. and Microsoft Corp. led a slump in computer-related stocks, leaving the broader U.S. market mixed, and McKesson HBOC Inc. plunged after the largest U.S. drug wholesaler restated earnings.The Dow average gained 13.74 to 10,845.
BUSINESS
By JAY HANCOCK | April 4, 1999
DOW 10,000? Ignore those headlines."The Economy" is here to tell you that the Dow Jones industrial average has been propped up by shadowy East Coast power brokers who have a big stake in the bull market.No, not the Fed.The Dow was "adjusted" March 17, 1997, by the people who invented it: Dow Jones & Co., publishers of the Wall Street Journal. A committee of green-eyeshade types juiced the lineup, blackballing four down-at-heel Dow members and picking ringers as replacements.Out went Bethlehem Steel, Woolworth, Texaco and Westinghouse.
BUSINESS
By Julius Westheimer | January 17, 1991
In the first hour of trading today the Dow Jones industrial average gained almost 100 points in heavy trading. At 10:30 a.m. the Dow indicator stood at 2606.34, up 97.52 points over yesterday's close. The blue chip index is now down about 300 points since the Mideast crisis began on August 2.NOW WHERE? "We'll see the Dow Jones and S&P 500-stock average down 20 percent some time this year, but then you could see one of history's best buying opportunities." (Richard Fontaine, CEO, Baltimore-based Fontaine Capital Appreciation Fund)
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | October 27, 1999
Microsoft Corp., Intel Corp., SBC Communications Corp. and Home Depot Inc. will join the Dow Jones industrial average Monday -- bumping out such longtime stalwarts as Sears, Roebuck & Co. -- as the nation's oldest stock-market index embraces the "New Economy" of America.Leaving the Dow will be, in addition to Sears, chemical maker Union Carbide Corp., Goodyear Tire & Rubber Co. and Chevron Corp., a major petroleum refiner.The selection of Intel and Microsoft, both of which trade on the Nasdaq, marks the first time the Dow industrials have included companies not listed on the New York Stock Exchange, scratching a long-standing tradition that kept some of the most dynamic names in technology and the overall economy from being reflected in Wall Street's best-known barometer.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | March 24, 1999
Fears over mounting tensions in Kosovo, coupled with concerns over weakening corporate profits, sent the Dow Jones industrial average diving more than 200 points yesterday.The closely watched Dow was also pushed down by sellers who wanted to take profits, days after the index nearly closed above the 10,000-point mark for the first time.The Dow, which is made up of 30 big-company stocks, fell 218.68 points, or 2.21 percent, to 9,671.83. The index is down 325.79 points, or 3.3 percent, since it closed at a high of 9,997.
BUSINESS
By BLOOMBERG NEWS | December 10, 1998
NEW YORK -- U.S. stocks were mixed yesterday, as Microsoft Corp. and other computer-related shares lifted the Nasdaq composite index to a record, while concern about profit shortfalls sent Merck & Co. and Procter & Gamble Co. lower.The Dow Jones industrial average fell 18.79 points, to 9,009.19. Merck & Co. accounted for the entire loss after forecasting 1999 earnings that fell short of analysts' expectations.The Standard & Poor's 500 index rose 2.11, to 1,183.49.But the Nasdaq composite rose 15.67, to 2,050.
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