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By Julius Westheimer | September 8, 1992
Falling after investors digested gloomy unemployment news, the Dow Jones average lost 10 points on Friday, closing at 3,281.93. But on Labor Day weekend 10 years ago the Dow stood at 925.15, about to vault 2,357 points, or 254 percent, in a decade.WALL ST. WATCH: "Presidential election is creating downward stock bias. Looking back over 70 years, stocks fell in five of six instances in the three months prior to election when the incumbent party lost."(Zweig Forecast). . . "We still look for new highs in the Dow Jones 3,450 area."
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NEWS
January 10, 2006
The Dow Jones industrial average closes above 11,000 for the first time since June 2001, boosted by a five-day rally that has sent stocks soaring this year. The advance yesterday followed a 241-point surge last week as investors grew increasingly optimistic that the Federal Reserve will soon end its string of interest-rate increases. [Article, Page 1C]
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BUSINESS
By JULIUS WESTHEIMER | January 5, 1995
Encouraged by a strong dollar and higher bond prices, investors pushed stocks up yesterday in heavy trading. The Dow Jones industrial average climbed 19.17 points and closed at 3,857.65, breaking through what many technicians called the 3,850 "ceiling."LOOKING AHEAD: "The bear market that started at the end of January will continue well into 1995." (Pep Talk) . . . "One more tightening of the screws by Alan Greenspan could shave 10-15 percent off the Dow Jones average." (Ripples in The Wave)
BUSINESS
By BLOOMBERG BUSINESS NEWS | August 24, 1996
NEW YORK -- U.S. stocks retreated yesterday as Treasury bonds suffered their worst decline since July 5, driving down bank and other financial issues.The Dow Jones industrial average slipped 10.73 to 5,722.74, after unexpectedly strong factory orders for durable goods in July fanned concern that inflation will quicken, sending bond yields to their highest point this month.J. P. Morgan & Co., Minnesota Mining & Manufacturing Co. and Exxon Corp. led the Dow's decline, trimming its gain for the week to 33.29 points, or 0.59 percent.
BUSINESS
By Julius Westheimer | August 18, 1992
With our shift to printing Ticker on Tuesdays and Thursdays rather than on Mondays and Thursdays, we devote today's column to some Tuesday financial happenings:THIS TUESDAY: "I give the Dow Jones average a better than 50-50 chance of reaching a close above its previous 3,413 high by September." (John Martone Letter) . . . "Expect the stock market to play catch-up ball with big gains from bonds in the months ahead." (No-Load Mutual Fund Selections) . . . "The market looks fairly nasty this coming week with a possible important low Aug. 17-20."
BUSINESS
By Julius Westheimer | March 14, 1991
Reversing direction after four "down" days, the Dow Jones average gained 32.68 points yesterday, advancing on hopes of lower interest rates. The DJ indicator opened today at 2,955.20, up 590 points (25 percent) from last October's low.NAMES & FACES: In the first staff addition in its history, The Rothschild Co., whose investment performance has far outpaced the S&P 500-stock average since 1973 inception, just added Joseph Klein III and Gregory Watson as senior investment executives. The firm handles 400 accounts with $800 million under management . . . Legg Mason will send its 52-page, jampacked March Institutional Monthly if you call or write.
BUSINESS
By Julius Westheimer | September 5, 1991
Edging lower for the fourth straight day, the Dow Jones average gave up nine points yesterday, closing at 3,008.50. Although the Dow index now stands 47 points below its record high, the closely-watched indicator is perched 375 points, or 14 percent, above its New Year's Day level.MIXED SIGNALS: "I think there's always a risk when you've had these huge up-moves. Everybody's stomach says, 'get me out,' but we're all afraid to do that." (Harvey Eisen, portfolio manager) . . . "Nowadays, bad economic news is good Wall Street news; the theory is that the Fed will now lower interest rates to stimulate business."
BUSINESS
By Julius Westheimer | October 6, 1992
After a wild ride, the Dow Jones average closed only 22 points lower yesterday after plunging 104 points by midmorning. On heavy volume of 286 million shares, the Dow ended the woolly day at 3,179.00. Are lower stock prices ahead? Read on.TAKE YOUR CHOICE: "If the Dow Jones average breaks down through 3,181.35, it could drop another 75 to 100 points." (Ralph Acampora, highly respected technician, on "Wall Street Week With Louis Rukeyser." Mr. Rukeyser to Mr. Acampora: "That exact number?" Mr. Acampora to Mr. Rukeyser: "That exact number."
BUSINESS
By JULIUS WESTHEIMER | September 27, 1995
IF YOU LISTEN to everybody, you'll have results like everybody," runs an old Wall Street saying.And pity people who listened to curbstone gloomsters when September -- historically the stock market's worst month -- began. Examples:* "With dividend yields down to 2.5 percent -- a record low -- stocks continue dangerously overvalued." (Investment Quality Trends)* "Insiders are taking profits. Investors should, too." (Vickers Weekly Insider)* "The stock market is dangerously overbought and vulnerable to profit-taking.
BUSINESS
By Julius Westheimer | February 21, 1996
I WAS SO excited I couldn't finish lunch.The late Philip Heisler, who was then managing editor of The Evening Sun, was reading intently at the Center Club when he slowly looked up, took another bite of shad roe and asked, "When can you start?"It was mid-February 1977. Voice trembling, I ventured, "Phil, I realize weekend financial news is scarce, but your Monday evening business page is dull. I think I can pep it up with a column called 'The Monday Ticker.' ""Tell me what's in it, I'd have to see samples," he replied, whereupon I pulled two drafts from my briefcase, which he studied carefully.
BUSINESS
By BLOOMBERG BUSINESS NEWS | August 10, 1996
NEW YORK -- U.S. stocks suffered a late decline yesterday as a jury dealt the tobacco industry a stunning defeat in a product liability case, a decision that sent shares of Philip Morris Cos. and other cigarette companies reeling.The slump came after a Florida jury found B.A.T Industries PLC unit Brown & Williamson negligent in the case of a smoker who developed cancer.Losses in Exxon Corp. and dozens of computer-related stocks worsened the slide.The Dow Jones industrial average slumped 32.18 to 5,681.
BUSINESS
By Julius Westheimer | February 21, 1996
I WAS SO excited I couldn't finish lunch.The late Philip Heisler, who was then managing editor of The Evening Sun, was reading intently at the Center Club when he slowly looked up, took another bite of shad roe and asked, "When can you start?"It was mid-February 1977. Voice trembling, I ventured, "Phil, I realize weekend financial news is scarce, but your Monday evening business page is dull. I think I can pep it up with a column called 'The Monday Ticker.' ""Tell me what's in it, I'd have to see samples," he replied, whereupon I pulled two drafts from my briefcase, which he studied carefully.
BUSINESS
By JULIUS WESTHEIMER | September 27, 1995
IF YOU LISTEN to everybody, you'll have results like everybody," runs an old Wall Street saying.And pity people who listened to curbstone gloomsters when September -- historically the stock market's worst month -- began. Examples:* "With dividend yields down to 2.5 percent -- a record low -- stocks continue dangerously overvalued." (Investment Quality Trends)* "Insiders are taking profits. Investors should, too." (Vickers Weekly Insider)* "The stock market is dangerously overbought and vulnerable to profit-taking.
BUSINESS
By JULIUS WESTHEIMER | September 14, 1995
Because The Evening Sun stops publication after tomorrow's issue, let's look back at some financial news this paper printed over the last 85 years.When we first published on Tuesday, April 18, 1910, our financial pages showed that the Dow Jones industrial average stood at 91.67. Roughly speaking, if you had invested $1,000 in the Dow stocks at that time, your investment would be worth approximately $51,000 today.(Speaking of the Dow Jones average, when The Evening Sun made its debut, the Dow industrials were: American Sugar, Peoples Gas, General Electric, National Lead, U.S. Leather pfd., American Steel & Wire, Amalgamated Copper, American Smelting & Refining, U.S. Steel, U.S. Steel pfd., American Car & Foundry and Colorado Fuel & Iron.
BUSINESS
By JULIUS WESTHEIMER | July 25, 1995
Partly rebounding from sharp losses last week, during which bonds suffered their steepest weekly decline in five years, financial markets staged a brisk advance yesterday.The Dow Jones industrial average gained 27.12 points to close at 4,668.67 and long-term Treasury bonds added about one point ($10 for a $1,000 bond) as the yield dropped to 6.87 percent.WALL ST. WISDOM: "If a battered stock refuses to sink any lower no matter how many negative articles appear in the papers, that stock is worth a close look."
BUSINESS
By JULIUS WESTHEIMER | January 5, 1995
Encouraged by a strong dollar and higher bond prices, investors pushed stocks up yesterday in heavy trading. The Dow Jones industrial average climbed 19.17 points and closed at 3,857.65, breaking through what many technicians called the 3,850 "ceiling."LOOKING AHEAD: "The bear market that started at the end of January will continue well into 1995." (Pep Talk) . . . "One more tightening of the screws by Alan Greenspan could shave 10-15 percent off the Dow Jones average." (Ripples in The Wave)
BUSINESS
By Julius Westheimer | October 31, 1991
Edging to within six points of its all-time high, the Dow Jones average climbed 10 points yesterday, closing at 3,071.78. The Dow indicator stands 631 points, or 25 percent, above its 12-month low reached last October.LOOKING AHEAD: Historically, November has been Wall Street's third best month, rising an average 1.5 percent over 40 years. Only January and December performed better . . . Tomorrow night, "Wall Street Week with Louis Rukeyser" looks ahead to "The November Market" with guest Peter Canelo, investment strategist, and panelists Carter Randall, Robert Stovall and Mr. Ticker.
BUSINESS
By Julius Westheimer | December 19, 1991
Edging up six points, the Dow Jones average closed yesterday at 2,908.09, up 275 points, or 10 percent, this year to date. Yesterday's close stands about 2,000 points above the Dow level 10 years ago this week (DJ 910), a healthy gain of 228 percent in a decade.AND NOW WHERE? "Recession is likely to continue well into 1992, with lower interest rates. DJ should hold above 2,870." (Financial Commentator) . . . "Economic valley deepens; reduce stock exposure by half." (Astute Investor, Robert Nurock)
BUSINESS
By Julius Westheimer | October 8, 1992
Nervous investors drove stocks down again yesterday. The Dow Jones average skidded 26 points to close at 3,152.25, now off 120 points in the last five days and 16 points below its Jan. 1, 1992 level.WHAT NEXT? "The year's greatest surprise is about to unfold. The market is about to explode on a renewed bullish course." (Cabot Letter) . . . "Does historical precedent suggest that either a Bush or Clinton victory would affect stocks? Since 1900, post-election years have seen stocks on average rise under 3 percent, regardless of which party won."
BUSINESS
By Julius Westheimer | October 6, 1992
After a wild ride, the Dow Jones average closed only 22 points lower yesterday after plunging 104 points by midmorning. On heavy volume of 286 million shares, the Dow ended the woolly day at 3,179.00. Are lower stock prices ahead? Read on.TAKE YOUR CHOICE: "If the Dow Jones average breaks down through 3,181.35, it could drop another 75 to 100 points." (Ralph Acampora, highly respected technician, on "Wall Street Week With Louis Rukeyser." Mr. Rukeyser to Mr. Acampora: "That exact number?" Mr. Acampora to Mr. Rukeyser: "That exact number."
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