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A market adage says the S&P 500 index leads the Dow Jones Industrial Average. Using that relationship alone can lead to trading profits, but tied to other trading concepts, profits [...]

Analysis is provided between the performance of the Dow Jones Industrial Average and the Nasdaq Composite Index. Technology sector stocks have sky-rocketed, far-surpassing the projected earnings of the industrial sector. During the initial months of 2000, the Dow Jones fell 11%, whereas the Nasdaq showed an 8% rise.

A model for volatility and price discovery on the futures market and the Dow Jones Industrial Average is given. Future volatility in one market can be predicted by innovations in another market.

We use a bottom-up approach to estimate the intrinsic value of the 30 stocks in the Dow Jones Industrial Average. In recent years, traditional aggregates market multiples (e.g., book to price, earnings to price) have had little predictive power for overall market returns. We show that an aggregate value-to-price ratio, in which 'value' is based on a discounted residual income model, has statistically reliable predictive power, not only for returns on the Dow but also for returns on the S&P 500 Index and, for a small-stock portfolio. We discuss the implications of these, findings, for tactical asset allocation strategies, the current level of the U.S. equity market, and the issue of equity valuation in general.

In a comparison of returns from 1946 to 1995 on a portfolio of the 10 stocks in the DJIA with the highest dividend yields (the Dow-10) with a portfolio of all 30 stocks in the DJIA (the Dow-30), the Dow-10 portfolio beats the Dow-30 statistically; that is, it has significantly higher average annual returns. After adjusting for the Dow-10 portfolio's higher risk, extra transaction costs, and unfavorable tax treatment, however, the Dow-10 does not beat the Dow-30 economically. In some subperiods, the Dow-10 performance is economically superior, but this finding is questionable in light of the potential for data mining and investor learning. (Reprinted by permission of the publisher.)

The drop in the stock market in Mar 1997 was a predictable correction. Internet-related and some other high-tech stocks were overvalued. Fads in investing, the importance of taking a long-term view, specific industries and specific companies are discussed.

At certain times in the economic cycle, it might make sense to go against the Fed. However, before you jump in front of this economic powerhouse with its unyielding conductor, [...]

A busy week on Wall Street saw Nasdaq Composite shares gain an average of 10% thanks to a Federal Reserve interest rate cut. However, longtime Warren Buffett-associated stocks Coca Cola and Gillette lowered growth and earnings forecasts. Holders of M&F Worldwide are protesting its board's decision to bail out audacious Ronald O. Perelman's troubled Panavision. The FASB will delay its June 30 ban on pooling accounting of mergers for 6 months.

Expectations for the stock market were dismal in 1st qtr 2001, until the last few days of the quarter. Analysts believe that the worst is over, as technology stocks recovered some to improve the Dow Jones Industrial Average by the end of the quarter.

The Dow Jones Industrial Average survived a scary Wed 10/18 opening hour of minus-435 to finish the week up 33. Half the plunge was due to heavily-weighted IBM and J.P. Morgan share price drops. Honeywell's possible merger partners, Dell's $1.9-billion potential put option liabilities, and Microsoft's lukewarm earns report are also analyzed.

Dow industrials enjoyed a strong week, up 2.4%. But telecommunication stocks (excepting Qwest Communications) are sinking because voice communications are becoming commoditized. Citigroup's bid for Student Loan Corp., and ATI Technologies poor quarter are also analyzed.

Profit warnings from the high technology industry spurred a steep decline in the stock markets. Stock analysts are concerned that an ebullient United States economy will prompt the Federal Reserve to raise interest rates.

Fueled by Microsoft's antitrust loss, the Nasdaq plummeted 28% off its Mar 10 high by tuesday, only to rebound to a scant 3% loss on the week. Despite the losses, observers have no consensus on whether a bottom has been reached, but several see bargains in the wake, especially in non-tech sectors. Also, Mattel confirmed market talk by announcing its intent to sell its ill-fated Learning Co. subsidiary.

Forecasts are given on the performance of technology sector stocks as industrial stocks decline. The Nasdaq Composite Index closed the day at 4590.50, but was up for the week by 4% with technology-related companies faring best.

Market reaction to two key government reports is presented. Concerns that short-term rates will rise have prompted a plunge in the Dow Jones Industrial Average as well as the Nasdaq.

The performance of the Dow Jones Industrial Average is noted after falling close to 500 points the week previous. Also analyzed are the stocks from the technology sector for companies such as Gateway, Lucent Technologies and Amazon.com.

Analysis is presented on the performance of the stock market and its reaction to interest-rate and economic figures. The companies being taken off the Dow Jones Industrial Average are named as well as their replacements.

Investor behavior is analyzed as the Dow Jones Industrial Average rose by 376 points, making it one of the largest gains for some time. Market watchers attribute this trend to investors being hopeful about third-quarter profits of corporations. Stocks prices of companies such as Xerox, IBM and Intel are assessed.

Stocks sensitive to economic cycles rallied the week ended Apr 16, 1999, as technology stocks struggled. The sudden shift from techs to cyclicals seemed to signal a consensus that earnings growth was broadening to a wider range of businesses. Favorable earnings reports from Caterpillar, Boeing, General Motors, and Ford helped fuel the rally in industrial cyclicals, as did Kodak's announcement of 1st quarter 1999 revenue growth and its $2 billion stock-buyback plan. Financial stocks and AMF Bowling are also discussed.

Industrial stocks rose sharply in the first week of 1999, reflecting faith in a continued strong economy and a search for value. Alcoa, General Motors, Caterpillar, DuPont, and USX-US Steel were especially strong. On Jan 8, 1999, the US government reported a 378,000 payroll increase for Dec 1998, which gave the cyclical stocks one of their best trading days relative to the overall market since 1997. Other groups of stocks discussed include Internet stocks, small-caps, drug stocks, regional bank stocks, and defense stocks.

Despite disappointing earnings reports and news of the growing trade deficit, the stock market just keeps rolling along. The Dow has already gained over 12% in 1998, exceeding all but the most wildly optimistic forecasts at the start of the year.

The Dow Jones Industrial Average set a record for its closing of 8370.10 on Feb 13, 1998, thus regaining all value lost in the Oct 1997 correction. Analysts expect the market to rise more in 1998 despite questionable economic conditions in Asia and their effect on US stocks.

A late surge almost returned the Dow Jones Industrial Average back to the 8000 mark it first reached in Jul 1997, but it fell just short at 7965.04 on 1997's last trading day. Part of the surge may have been due to year-end portfolio management techniques, which could be mitigated in Jan 1998.

Even to the most unaware and uninitiated, this year is the year of the stock. As the Dow Jones Industrial Average (DJIA) and the Standard & Poor's 500 (S&P 500) [...]

Japanese Prime Minister Ryutaro Hashimoto's comments on resisting the urge to sell US Treasury Bills caused the Dow Jones Industrial Average to plummet 192.25 on Jun 23, 1997. Several stocks are discussed, including Nine West Group and Centennial Technologies.

The Dow posted its largest point gain in history for the week ending Apr 18, 1997, rising 312 points and closing at 6703. Large corporations have allayed feared by posting strong profits. The Dow and the Standard & Poors 500 are far ahead of the Nasdaq index.

The Dow Jones Industrial Average plummeted 160 points in Mar 1997 but quickly regained 56 points the following day. Many analysts are still bullish about the seemingly volatile market, however, and state that even a hike in interest rates would not do much damage.

The Dow Jones Industrial Average recently topped 6,000, an unprecedented upward trend that seems likely to continue given the healthy economy and subdued inflation. Contrastly, the Dow Jones Transportation Average dropped from a peak of 2296.20 and bottomed out near 1900.

The resurgence in stock prices for the computer and allied industries dominated market news. Rumours of a possible interest rate increase depressed much of the rest of the market. The success of Florida Panthers Holding's stocks will depend on the success of the soccer team. Several new issues are discussed.

The tobacco industry replaced the technology industry as the one with falling shares. The decline in tobacco stocks came just after BAT Industries owned by Brown and Williamson, lost a smoker's injury suit in Florida. Action on the Dow Jones, along with banking and other stock performances are analyzed.

Ralph Nelson Elliott's Elliott Wave Principle was conceived as a tool for describing market behavior in detail. The reputation of the Elliott wave has suffered because of errors caused by the misinterpretation of the 1859-1929 stock market period, changes in technology, government, social systems and individual behavior and mistakes of Elliott wave practitioners. Techniques for improving wave analysis are provided., In the first article of a three-part series, this wave analyst discusses shortcomings he has found in Elliott wave and describes the application of his NEoWave theory to the stock [...]

The recent gyrations of the stock market are illustrated by how Microsoft shares fell almost eight points while IBM shares rose by almost 12 points in the same week. Tips on how to benefit from the fluctuations through hedging are offered. Two advisers discuss good picks for small cap investing.

Factors such as rising interest rates and lower earnings have caused a fall in all components of the Dow Jones Average. Investors should shelter their money in utility stocks while avoiding such stocks as technology. Money continues to flow away from technology stocks. Two stocks are evaluated.

The Dow Jones Industrial Average reached two record highs during the week of May 27, 1996, but there are signs that indicate that the bull market is reaching its conclusion. Other financial news of the week includes the resignation of Jeffrey Vinik as president of the Fidelity Magellan fund.

The wild fluctuations that characterized the Dow Jones Average's first week of 1996 seem to indicate an exciting year ahead for the stock market. Some well-known high-tech companies surprisingly showed decreased earnings. The telephone industry is still awaiting the results of new legislation.

The Dow Jones Industrial Average lost 57.41 points on July 19, due mostly to technology stocks that saw sharp price declines. Wall Street believes that lofty investor expectations triggered the fall in high technology stocks.

Chart analogs are considered by some securities traders as highly useful bases for predicting future trends. In fact, some of those who profited from the stockmarket crash of Oct. 1987 have been diligent analysts of historical trends which are thought to be cyclical and repetitive. However, the effect of chance or coincidence is not discounted by believers in such trading techniques. Their greatest use is in showing market direction., Are analogs valid trading tools or just interesting coincidences? We'll show you how different traders define and approach market analogs. In the wake of the 1987 stock market crash an [...]

Byline: Allan Sloan (Sloan is NEWSWEEK's Wall Street editor. His e-mail is sloan@panix.com.) The stock market hasn't exactly been setting the world on fire lately. Despite rallying sharply in 2003, [...]

Byline: Allan Sloan When the Dow Jones industrial average broke through the 10,000 mark in 1999, it was a very big deal. But when the Dow broke 10,000 last week, [...]

Watching the Fed While the Dow Jones Industrial Average (DJIA) futures contract has recovered from huge drops since last March, few traders see the index holding above the 10000 level [...]