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By BLOOMBERG NEWS | September 2, 1998
NEW YORK -- U.S. stocks rebounded yesterday from the second-worst decline in the 1990s, with technology shares leading the climb, followed by companies whose shares appeared to have been beaten down further than warranted by their earnings outlooks.Broad market indexes again yesterday mirrored the Dow Jones industrial average, the Standard & Poor's 500 index and the Nasdaq composite, with most of them gaining about half what they had lost in Monday's market plunge.The Russell 2,000 index, which tracks small capitalization stocks, jumped 10.15 to 348.10; the Wilshire 5,000 index gained 304.30 to 11,106.
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BUSINESS
By BLOOMBERG NEWS | October 13, 2000
NEW YORK - U.S. stocks had their biggest decline in six months yesterday as rising tensions in the Middle East and Home Depot Inc.'s warning that profit will miss expectations spooked investors. The Nasdaq composite index dropped to its lowest close this year. Citigroup Inc., J. P. Morgan & Co. and other financial shares fell on concern that rising oil prices will spur faster inflation. Oil stocks such as Texaco Inc. and Unocal Corp. rose with the price of crude. "There's no compelling reason to buy stocks and a lot more reasons to sell - we have Home Depot blowing up" and higher oil prices, said Robert Leshman, who runs New York hedge fund Briar Partners LP. "The lower stocks go, the more fear sets in and people say, `Get me out at any price.
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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 | September 15, 2000
NEW YORK - The Dow Jones industrial average fell for the fifth time in six days yesterday as consumer stocks including McDonald's Corp., Coca-Cola Co. and Minnesota Mining & Manufacturing Co. declined on concern that the falling euro will cut into profits. The Dow dropped 94.71, or 0.9 percent, to 11,087.47 as J. P. Morgan & Co. fell. Investors bet that Chase Manhattan Corp.'s purchase of the bank won't generate enough profits to justify the $35.2 billion price tag. Technology shares benefited from reports showing that wholesale prices unexpectedly fell and retail sales gained less than forecast in August, which buoyed optimism that the Federal Reserve is finished raising interest rates.
BUSINESS
By BLOOMBERG NEWS | September 1, 1998
NEW YORK -- Broad market indexes mirrored the Dow Jones industrial average yesterday, as many of them plunged more than 6 percent and hit lows for the year.Among those with major declines, the Russell 2,000 index, a benchmark of small capitalization stocks, slumped 20.59 points, or 5.74 percent, to 337.96, continuing a trend of small-cap losses in recent weeks; the Wilshire 5,000 index plummeted 632.31 points, or 6.71 percent, to 8,785.71; the American Stock Exchange composite index dropped 37.51, or 6.22 percent, to 565.07; the New York Stock Exchange composite index lost 31.52, or 6.15 percent, to 480.60; and the S&P 400 midcap index skidded 18.76, or 6.26 percent, to 281.40.
BUSINESS
By BLOOMBERG NEWS | January 16, 1998
NEW YORK -- U.S. stocks fell yesterday for the first time this week after a batch of companies, including Eastman Kodak Co. and Data General Corp., warned investors of lower profits in the months ahead.Kodak's forecast came on the back of a disappointing fourth-quarter earnings report. A strong dollar has made the products of Kodak and other U.S. exporters more expensive overseas.The Dow Jones industrial average fell 92.92 to 7,691.77; the Standard & Poor's 500 index dropped 7.21 to 950.73; and the Nasdaq composite index fell 1.70 to 1,547.
BUSINESS
By BLOOMBERG NEWS | October 13, 2000
NEW YORK - U.S. stocks had their biggest decline in six months yesterday as rising tensions in the Middle East and Home Depot Inc.'s warning that profit will miss expectations spooked investors. The Nasdaq composite index dropped to its lowest close this year. Citigroup Inc., J. P. Morgan & Co. and other financial shares fell on concern that rising oil prices will spur faster inflation. Oil stocks such as Texaco Inc. and Unocal Corp. rose with the price of crude. "There's no compelling reason to buy stocks and a lot more reasons to sell - we have Home Depot blowing up" and higher oil prices, said Robert Leshman, who runs New York hedge fund Briar Partners LP. "The lower stocks go, the more fear sets in and people say, `Get me out at any price.
BUSINESS
By BLOOMBERG NEWS | September 15, 2000
NEW YORK - The Dow Jones industrial average fell for the fifth time in six days yesterday as consumer stocks including McDonald's Corp., Coca-Cola Co. and Minnesota Mining & Manufacturing Co. declined on concern that the falling euro will cut into profits. The Dow dropped 94.71, or 0.9 percent, to 11,087.47 as J. P. Morgan & Co. fell. Investors bet that Chase Manhattan Corp.'s purchase of the bank won't generate enough profits to justify the $35.2 billion price tag. Technology shares benefited from reports showing that wholesale prices unexpectedly fell and retail sales gained less than forecast in August, which buoyed optimism that the Federal Reserve is finished raising interest rates.
BUSINESS
By BLOOMBERG NEWS | July 25, 2000
NEW YORK - U.S. stocks fell yesterday as troubled investors reacted to weaker-than-expected corporate earnings reports that overshadowed signs of moderating inflation. The Dow Jones industrial average closed down 48.44 at 10,685.12. Broader stock indicators also fell. The Nasdaq composite index was down 112.88 at 3,981.57, and the Standard & Poor's 500 index was off 15.90 to 1,464.29. Merck & Co. surged, limiting the Dow's decline. The drugmaker said its 2000 profit could grow faster than analysts estimate.
BUSINESS
By BLOOMBERG NEWS | December 19, 1997
NEW YORK -- U.S. stocks fell for a second day yesterday, amid concern that Asia's economic turmoil will slow growth around the world, crimping profits of J. P. Morgan & Co. and other multinational companies.The Dow Jones industrial average fell 110.91 to 7,846.50, its biggest decline in a week. J. P. Morgan led the drop, falling $4.125 to $118.875.The Standard & Poor's 500 index lost 10.24, or 1.1 percent, to 955.30, and the Nasdaq composite index fell 24.18, or 1.6 percent, to 1,523.19.Among other broad market indexes, the Russell 2,000 index of small capitalization stocks lost 6.09 to 420.35; the Wilshire 5,000 index, comprising stocks on the New York, American and Nasdaq stock exchanges, dropped 103.28 to 9,107.
BUSINESS
By BLOOMBERG NEWS | July 25, 2000
NEW YORK - U.S. stocks fell yesterday as troubled investors reacted to weaker-than-expected corporate earnings reports that overshadowed signs of moderating inflation. The Dow Jones industrial average closed down 48.44 at 10,685.12. Broader stock indicators also fell. The Nasdaq composite index was down 112.88 at 3,981.57, and the Standard & Poor's 500 index was off 15.90 to 1,464.29. Merck & Co. surged, limiting the Dow's decline. The drugmaker said its 2000 profit could grow faster than analysts estimate.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | April 4, 2000
Worries over Microsoft Corp. and broader concerns over the technology sector sent the Nasdaq composite index plummeting a record 349.15 points yesterday. At the same time, the Dow Jones industrial average shot up more than 300 points, in what an analyst called one of the most "bizarre" days on Wall Street. Nasdaq, which is heavily weighted with technology stocks, suffered its largest point loss ever, sliding 7.64 percent to 4,223.68. The loss surpassed a 229.46 point decline Jan. 4. Yet, the Dow rocketed 300.1 points, or 2.75 percent, to 11,221, as investors plowed money into the "Old Economy" stocks.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | February 19, 2000
Call it the Greenspan hangover. Stocks sold off sharply yesterday -- despite a favorable inflation report -- ahead of a long weekend for traders and the day after Federal Reserve Chairman Alan Greenspan told Congress that the nation's central bank was committed to boosting interest rates still more to slow a sizzling economy and stave off inflation. "Investors are saying to themselves, `If the economy is definitely going to slow, then we've got to re-think these [high] stock prices,' " said Paul Christopher, an economist with A. G. Edwards in St. Louis.
BUSINESS
By BLOOMBERG NEWS | December 1, 1998
NEW YORK -- U.S. stocks suffered their worst decline in two months, led by computer makers such as International Business Machines Corp. and financial companies, as investors scaled back their expectations for fourth-quarter profits."
BUSINESS
By BLOOMBERG NEWS | September 2, 1998
NEW YORK -- U.S. stocks rebounded yesterday from the second-worst decline in the 1990s, with technology shares leading the climb, followed by companies whose shares appeared to have been beaten down further than warranted by their earnings outlooks.Broad market indexes again yesterday mirrored the Dow Jones industrial average, the Standard & Poor's 500 index and the Nasdaq composite, with most of them gaining about half what they had lost in Monday's market plunge.The Russell 2,000 index, which tracks small capitalization stocks, jumped 10.15 to 348.10; the Wilshire 5,000 index gained 304.30 to 11,106.
BUSINESS
By BLOOMBERG NEWS | September 1, 1998
NEW YORK -- Broad market indexes mirrored the Dow Jones industrial average yesterday, as many of them plunged more than 6 percent and hit lows for the year.Among those with major declines, the Russell 2,000 index, a benchmark of small capitalization stocks, slumped 20.59 points, or 5.74 percent, to 337.96, continuing a trend of small-cap losses in recent weeks; the Wilshire 5,000 index plummeted 632.31 points, or 6.71 percent, to 8,785.71; the American Stock Exchange composite index dropped 37.51, or 6.22 percent, to 565.07; the New York Stock Exchange composite index lost 31.52, or 6.15 percent, to 480.60; and the S&P 400 midcap index skidded 18.76, or 6.26 percent, to 281.40.
BUSINESS
By BLOOMBERG NEWS | December 1, 1998
NEW YORK -- U.S. stocks suffered their worst decline in two months, led by computer makers such as International Business Machines Corp. and financial companies, as investors scaled back their expectations for fourth-quarter profits."
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | February 19, 2000
Call it the Greenspan hangover. Stocks sold off sharply yesterday -- despite a favorable inflation report -- ahead of a long weekend for traders and the day after Federal Reserve Chairman Alan Greenspan told Congress that the nation's central bank was committed to boosting interest rates still more to slow a sizzling economy and stave off inflation. "Investors are saying to themselves, `If the economy is definitely going to slow, then we've got to re-think these [high] stock prices,' " said Paul Christopher, an economist with A. G. Edwards in St. Louis.
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 | July 9, 1998
NEW YORK -- U.S. stocks rose yesterday as Intel Corp. led the Nasdaq composite index to its first record since April 22 on expectations that semiconductor sales will rebound.The Nasdaq jumped 27.28, or 1.4 percent, to 1,935.39, surpassing by nearly 20 points a record set April 22.The 30-stock Dow Jones industrial average rose 89.93, or 1 percent, to 9,174.97, coming within 37 points of its May 13 record.The Standard & Poor's 500 index rallied to its second record of the week, finishing up 11.71, or 1 percent, to 1,166.
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