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Voice of America, 99-12-31

Voice of America: Selected Articles Directory - Previous Article - Next Article

From: The Voice of America <gopher://gopher.voa.gov>

CONTENTS

  • [01] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)

    • [01] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)

    DATE=12/31/1999
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-257666
    CONTENT=
    VOICED AT:

    INTRO: Stock prices in the United States were up today (Friday) and the year ended with all major stock averages at record highs. V-O-A Correspondent Breck Ardery reports from New York.

    TEXT: The Dow Jones Industrial Average closed at 11- thousand-497, up 44 points. For the week, the Industrial Average gained 92 points. The Standard and Poor's 500 index closed Friday at 14-hundred-69, up four points. The NASDAQ index gained 32 points to close at four-thousand-68. It was a great year for the major U-S stock averages. The Dow Jones Industrials gained 25 percent. The Standard and Poor's 500 was up 19 percent. And the NASDAQ index gained a spectacular 85 percent - the result of investor enthusiasm for the socks of high technology companies. Most analysts are positive in their forecasts for 2000, although some say there could be a downward correction in the first quarter of the year.

    /// Rest Opt ///

    Richard Grasso, the chairman of the New York Stock Exchange, believes stocks will remain a good place for Americans to invest their money. But Mr. Grasso says it is important to remember that stocks always carry some element of risk.

    /// GRASSO ACT ///

    It is important for investors to remember that inherent in any equity investment is risk. So we have got to invest wisely and carefully and certainly on an informed basis.

    /// END ACT ///

    The Boeing Aircraft Corporation says its deliveries of passenger jets grew by 10 percent in 1999. Boeing has faced increasingly tough competition from Airbus Industries, the European consortium. However, the U-S company says it is committed to remaining the world's leading manufacturer of commercial aircraft. The Sprint Telecommunications company has reached agreement with its unions, averting a strike that had been set for Friday. The new year finds American banks holding an unusually large amount of cash. The U-S central bank supplied commercial bankers with billions of dollars in extra cash in case Americans, worried about Year 2000 computer problems, decided withdraw their money during December. But there was no "run on the banks" and many bankers say demand for cash was at or below the same period last year.(Signed)
    NEB/NY/BA/JP 31-Dec-1999 13:45 PM EDT (31-Dec-1999 1845 UTC)
    NNNN
    Source: Voice of America
    Voice of America: Selected Articles Directory - Previous Article - Next Article
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