Salon.com > David K. Randall

Separate beds are liberating

Tue, 14 Aug 2012 00:00:00 +0000

The British Science Festival is a pretty big deal in the world of European scientists. An event held annually since 1831, except during times of war, the festival’s history includes the first use of the term dinosaur, the first demonstration of wireless transmission, and an important early debate on Darwinism. One week in late September of 2009, thousands of researchers left their labs and set off for Guildford, the town about thirty miles outside of London where the festival was held that year, to present their latest findings and to gossip about faculty openings. It wasn’t the type of event — like, say, the Oscars, or the Cannes International Film Festival — that tabloid editors circle on their calendars because they expect something big to happen. Yet the minute Neil Stanley opened his mouth, the humble gathering of doctorates transformed into international news.

Dow average plunges 513, worst drop since 2008

Thu, 04 Aug 2011 20:43:00 +0000

The stock market is finishing its worst day since the financial crisis.

The Dow Jones industrial average plunged more than 500 points Thursday. Investors are concerned that the U.S. economy will enter another recession and that Europe's debt problems are not closed to being solved.

Major stock indexes fell more than 4 percent.

The Dow is closing with a loss of 513 points, or 4.3 percent, to 11,384. It was the worst day for the Dow since October 22, 2008.

The S&P 500 is down 60, or 4.8 percent, to 1,200. The Nasdaq is down 137, or 5.1 percent, to 2,556.

Twenty stocks fell for every one that rose on the New York Stock Exchange. Volume was very heavy at 7.5 billion shares.

Stocks close at two-year high thanks to strong earnings reports

Tue, 01 Feb 2011 21:08:00 +0000

Better than expected earnings reports and a lift in the manufacturing sector sent the stock market to two and half year highs Tuesday.

The Dow Jones industrial average crossed 12,000 once again, and the Standard and Poor's 500 stock-index -- the benchmark for most U.S. mutual funds -- reached 1,300.

The Institute of Supply Management said that manufacturing activity expanded in January at its fastest pace in nearly seven years. Increased spending by businesses and consumers helped push the index higher, the company said.

"This is a good indicator that businesses have come out of the gate strongly in 2011," said Burt White, chief investment officer for LPL Financial. "We are seeing businesses spend again and this is exactly what we needed to see for this economy to move forward."

Stocks surge after the Fed’s stimulus announcement

Thu, 04 Nov 2010 18:10:00 +0000

Stocks rose sharply Thursday, one day after the Federal Reserve announced a $600 billion plan to stimulate the economy.

The Dow Jones industrial average rose 172.11, or 1.5 percent, to 11,387.24 in midday trading, a day after closing at its highest level since September 2008.

The dollar fell against other currencies as traders anticipated lower U.S. interest rates because of the Fed's massive bond-buying program announced Wednesday. Commodities prices including crude oil rose.

Retailers reported solid sales in October, sending shares of major retailing companies sharply higher. Gap Inc. rose 6.1 percent while Macy's Inc. jumped 4.1 percent.

"Those retail numbers are telling us that the holiday season is going to get off to a good start," said Stephen Jones, the chairman of Jones Villalta Funds.

The Standard and Poor's 500 index rose 16.50, or 1.4 percent, to 1,214.46, coming within two points of its highest closing level of the year. The technology-focused Nasdaq composite index rose 28.75, or 1.1 percent, to 2,569.02.

On Wednesday, the Federal Reserve announced it plans to buy $600 billion in bonds in an effort to spur consumer spending and investments in stocks. The central bank was unusually detailed in its announcement, telling investors that it planned to spend $75 billion a month on bonds until at least the middle of next year.