IBM leads stock prices down 35.40; continued inaction by Fed aids slump; bonds drop 1/4 point

Article Abstract:

IBM's gloomy forecast for the rest of 1991 and hesitation on the part of the Federal Reserve Board to lower interest rates sent stocks down on Apr 29, 1991. The Dow Jones Industrial Average lost 35.40 points and closed at 2876.98 points while the Standard and Poor's 500-stock index fell 5.36 and closed at 373.66. The Nasdaq composite index closed at 487.74 after falling 6.90. Industry analysts say that the fall in stock prices for the day was largely a result of IBM's cautious attitude about the rest of 1991; investors look to the number-one computer maker for leadership, so that a glum outlook on its part sends ripples across and throughout the economy.

Finance, taxation, & monetary policy, Analysis, Economic policy, United States. Federal Reserve Board, United States economic conditions, Standard and Poor's 500-Stock Price Index, Industry Analysis, Nasdaq Composite Index

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Rally fades as analysts cool to IBM; DJIA ends up 13.86; bonds rise modestly; dollar pushed lower

Article Abstract:

IBM stock closed at $101.50 a share on May 21, 1991, after falling $1.75 a share for the day. Industry analysts note that the drop in IBM stock was the result of gloomy outlooks by two major brokerage firms. The drop in IBM stock cut short a rally in the stock market, but stock prices rebounded after IBM announced that it saw no reason to change its outlook since its annual meeting in 1991. Some observers note that the uneasiness of investors that results when bad news about IBM is circulated is indicative of a stock market that has many short-term investors involved. The Dow Jones Industrial Average rose 13.86 on May 21, 1991, and closed at 2906.08.

Dollar (United States), column

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IBM's fall pulls stocks down again; recovery in question as profits slip; bonds rise, dollar eases

Article Abstract:

IBM stock prices have continued their downward spiral, sending the Dow Jones Industrial Average down 16.58 to 2855.45. IBM fell two-and-a-quarter points to 111-and-seven-eights, and has fallen 12-and-a-half percent since its announcement a few days ago of less than expected earnings. Many analysts believe that IBM's continued decline is eroding confidence in the market, and in the notion that an economic upswing is near. Investors generally are worried that IBM's decreasing earnings will be reflected industry-wide as the economy remains in a recession.

Office machines, not elsewhere classified, Reports, Stock-exchange, Stock exchanges, Stock markets, Trends, Price, Stock Market

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