Newspaper article St Louis Post-Dispatch (MO)

Ibm Helps Propel Dow to 19th High of '96

Newspaper article St Louis Post-Dispatch (MO)

Ibm Helps Propel Dow to 19th High of '96

Article excerpt

Stocks rose for a third day as investors anticipated that a rebounding economy would spark faster earnings growth later in the year. The Dow Jones industrial average climbed 18.06 to 5689.74, its 19th record of 1996.

Companies such as Whirlpool Corp., whose businesses are closely tied to swings in the economy, and semiconductor makers showed the biggest gains. Whirlpool gained 3 1/8 to 57 1/8.

"We see some very early signs of a recovery," in the economy, said Robert Gillam, a money manager at McKinley Capital Management in Anchorage, Alaska. "Everything we see shows very low growth with subdued inflation." The S&P 500 index rose 0.62, while the Nasdaq composite was ahead 4.56. To be sure, falling stocks outnumbered advancing issues by more than 6 to 5 on the New York Stock Exchange. IBM led the Dow industrials higher for a second day, climbing 2 1/8 to 119 3/4, and adding 7.3 points to the average. IBM said it received a contract to manage the computer systems of semiconductor maker LSI Logic Corp. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.