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The Daily Dow
SEATTLE, Wa., May 28, As earlier reported, MF Dowman is off on a much deserved vacation so I have the task of filling some very big shoes. :)
Today was party day on Wall Street in celebration of the Dow Jones industrial average celebrating its 100th birthday, complete with balloons and fortune cookies. But balloons and fortune cookies make for light party treats as the Dow fell 53.19 to 5709.67. Trading was very light after the holiday weekend, as many major players continued their vacation throughout the week.
The Foolish Four stocks (EK, CHV, DD and MMM) were down 0.67% today, reflecting the market's general downturn in response to probable profit-taking on unexpectedly strong economic readings and bonds falling on a strong April existing home sales report.
AlliedSignal, Inc. announced today its plans to license an environmentally safe coolant to Dupont (DD). AlliedSignal calls this coolant Genetron and touts it as being a more efficient coolant used in air-conditioning, which should help Dupont replace hydrochloroflourocarbons (HCFCs), which are blamed for thinning the ozone layer that shields the Earth from the sun's ultra-violet energy.
The only other news affecting our portfolio was that from a competitor of Minnesota Mining and Manufacturing (MMM) called Kao Corp. Kao stated its plans to open a magnetic tape manufacturing facility in the U.S. MMM dropped only an $1/8 on this news.
It's interesting to note that the opening bell at the New York Stock Exchange was rung today by Jack Welch, Chairman of GE. This honor was given because General Electric is the only survivor of Dow's original listing of twelve blue chip companies, first published on May 26, 1896.
On that date, the Dow closed at 40.94. A century later, the Dow has climbed to over 5700 and continues to be the most famous economic barometer of our time. [For more on the History of the Dow, go to keyword: Dow.]
Fortune cookies, eh? Pretty slim pickins. Would have thought someone could have sprung for cake. :) Transmitted: 5/28/96
Dow Stocks <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:ALD)") else Response.Write("(NYSE:ALD)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:AA)") else Response.Write("(NYSE:AA)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:AXP)") else Response.Write("(NYSE:AXP)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:T)") else Response.Write("(NYSE:T)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:BS)") else Response.Write("(NYSE:BS)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:BA)") else Response.Write("(NYSE:BA)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:CAT)") else Response.Write("(NYSE:CAT)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:CHV)") else Response.Write("(NYSE:CHV)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:KO)") else Response.Write("(NYSE:KO)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:DIS)") else Response.Write("(NYSE:DIS)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:DD)") else Response.Write("(NYSE:DD)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:EK)") else Response.Write("(NYSE:EK)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:XON)") else Response.Write("(NYSE:XON)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:GE)") else Response.Write("(NYSE:GE)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:GM)") else Response.Write("(NYSE:GM)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:GT)") else Response.Write("(NYSE:GT)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:IBM)") else Response.Write("(NYSE:IBM)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:IP)") else Response.Write("(NYSE:IP)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MCD)") else Response.Write("(NYSE:MCD)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MRK)") else Response.Write("(NYSE:MRK)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MMM)") else Response.Write("(NYSE:MMM)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:JPM)") else Response.Write("(NYSE:JPM)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MO)") else Response.Write("(NYSE:MO)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:PG)") else Response.Write("(NYSE:PG)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:S)") else Response.Write("(NYSE:S)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:TX)") else Response.Write("(NYSE:TX)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:UK)") else Response.Write("(NYSE:UK)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:UTX)") else Response.Write("(NYSE:UTX)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:WX)") else Response.Write("(NYSE:WX)") end if %> <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:Z)") else Response.Write("(NYSE:Z)") end if %>
THE FOOLISH FOUR MODEL (5/28/96) |
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