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Securities Industry United States

BUSINESS
January 27, 1999 | JOSH FRIEDMAN, TIMES STAFF WRITER
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.
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BUSINESS
January 22, 1999 | WALTER HAMILTON, TIMES STAFF WRITER
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.
BUSINESS
January 14, 1999 | PAUL J. LIM, TIMES STAFF WRITER
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.
BUSINESS
January 7, 1999 | Bloomberg News
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.
BUSINESS
December 30, 1998 | PAUL J. LIM, TIMES STAFF WRITER
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.
BUSINESS
December 24, 1998 | From Times Staff and Wire Reports
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.
BUSINESS
December 24, 1998 | JOSH FRIEDMAN, TIMES STAFF WRITER
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.
BUSINESS
December 5, 1998 | From Times Wire Services
Stocks rose Friday after a government report showed the U.S. added more jobs than expected in November, increasing optimism that consumer spending will fuel corporate profit growth. The Dow Jones industrial average rose 136.46 points, or 1.5%, to 9,016.14. Even with the turnaround, for the week the Dow was down 3.3%, the S&P 500 dropped 1.3% from the previous Friday's record, and Nasdaq lost 0.7%. Regional banks such as Bank One led the gain on the prospect of stronger demand for credit.
BUSINESS
December 5, 1998 | From Bloomberg News
Fewer U.S. mutual funds are being created this year than at any time since 1992, as money managers find it increasingly difficult to sell funds in an already crowded marketplace, according to an industry report. About 860 new funds, including various share classes of the same fund, have been introduced so far this year, compared with 1,688 in all of 1997 and 1,411 funds in 1996, according to researchers at CDA/Wiesenberger.
BUSINESS
November 13, 1998 | THOMAS S. MULLIGAN
As much as Wall Street might need a grandmother from time to time, it isn't the central bank's job to dry the stock and bond markets' tears whenever there's a thunderstorm--let alone try to save the world. The Fed has a tough enough job doing what it was created to do--maintain domestic price stability and an orderly financial system--without trying to take on new responsibilities, the opponents of further interest rate cuts argue.
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