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Article: Stock Market Begins New Year with Stumble
- Article from:
- THE JOURNAL RECORD
- Article date:
- January 12, 1993
- Author:
CopyrightCopyright 1993 The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK _ Wall Streeters who look for portents in the stock
market's behavior at the start of a year haven't found much to
like so far in 1993.
Over the first week of trading in the new year, the trend of
stock prices went from flat to worse, even when the news on the
economy seemed to be encouraging.
This showing unsettled followers of the so-called "early
warning" January barometer _ based on the theory that stocks tend
to tip their hand in the early stages of a year about their
likely trend through the remaining 11 months.
While this kind of analysis is often disputed, there seemed to
be general agreement that investors were beginning in the year in
a touchy, if not altogether ...