July 23, 1999 |
Interest-rate warnings from Federal Reserve Chairman Alan Greenspan on Thursday added to an already nervous mood on Wall Street, where investors are taking profits and in some cases hunkering down for another midsummer swoon. Stocks and bonds both lost ground Thursday. And with the dollar tumbling to a five-month low against the Japanese yen--the opposite of what Japanese officials think is good for their struggling economy--Tokyo's Nikkei-225 share index fell nearly 3% to 17,730.
June 16, 1999 |
Here's a good reason why Wall Street isn't more afraid of what the Federal Reserve might do soon with interest rates: Corporate earnings growth is expected to be stellar in both the second and third quarters. Earnings tracker First Call is estimating that the companies in the blue-chip Standard & Poor's 500-stock index will show 15% earnings growth in the current quarter and 20% in the third quarter, on average.
February 11, 1999 |
Top Wall Street players expressed broad support Wednesday for a bill to overhaul the Depression-era banking laws even as a new rift opened up among lawmakers. Leaders of the banking, securities and insurance industries coalesced around H.R. 10, legislation resurrected from last year's Congress that would allow one-stop shopping for a host of financial services. "The outstanding issues are few and resolvable," David Komansky, chairman and chief executive of Merrill Lynch & Co.
January 27, 1999 |
The sky-high stock market, which rallied again on Tuesday, is getting support from an important source: corporate earnings. At the midway point of the 1998 fourth-quarter profit reporting season, market watchers say they're pleasantly surprised by the numbers so far, though hardly giddy. "This is encouraging but not conclusive," said Marshall Acuff, equity strategist at brokerage Salomon Smith Barney in New York.
January 22, 1999 |
Amid more signs that many small investors--and corporate insiders--are bailing out, Internet stocks tumbled again Thursday, leading a broad decline on Wall Street. That left many Wall Streeters wondering whether the Internet stock bubble has burst--or if this decline, like others that have hit the sector over the last two years, will be only a temporary pullback followed by another surge. The technology-laden Nasdaq composite index endured the brunt of the sell-off, sliding 70.77 points, or 2.
January 14, 1999 |
World markets were caught off guard Wednesday by Brazil's decision to let its currency weaken, as stocks nearly everywhere finished down sharply--echoing declines that have followed other currency devaluations since mid-1997. But on Wall Street, an early plunge attracted a horde of buyers, and many stocks finished well above their lows for the day. "It was just a wild ride," said Everen Securities technical analyst Gregory Nie.
January 7, 1999 |
About two dozen brokerages, including many of Wall Street's biggest firms, will agree to pay millions of dollars in fines under a settlement with regulators that will conclude the federal investigation of trading abuses on the Nasdaq Stock Market, people with knowledge of the talks said Wednesday. The settlement between the U.S.
December 30, 1998 |
Despite a last-minute flurry of investment into stock mutual funds in recent days, many fund companies are reporting a disappointing December--all but assuring that 1998 will go down as the first year since 1994 that growth in demand for stock funds has slowed. This, even though major market indexes have rebounded dramatically and swiftly from their late-summer slide, with both the blue-chip Standard & Poor's 500 index and the technology-heavy Nasdaq composite back in record territory.
December 24, 1998 |
Wall Street's traditional "Santa Claus rally" arrived with a day to spare, as stocks staged a sharp advance Wednesday that drove key indexes to record highs. Analysts said the buying wave reflected, at least in part, a heavy inflow of fresh cash to U.S. stock mutual funds in recent days as individual investors place their bets for the new year. On Wall Street, the Dow Jones industrial average surged 157.57 points, or 1.7%, to close at 9,202.03, nearing its record high of 9,374.27 reached Nov.
December 24, 1998 |
Insider trading--the legal kind, meaning the publicly reported stock transactions of the officers, directors and large shareholders of companies--has long been followed by many market analysts looking to gauge corporate prospects. But is it really profitable to piggyback on insiders' buying or selling of their own stocks? A new book, "Investor Intelligence From Insider Trading" by H. Nejat Seyhun (MIT Press, Cambridge, Mass.), sheds some light.