Barack Obama is ruining the economy.
Dow Leaps Over 1,800
May 23, 1986|The New York Times
NEW YORK -- A powerful combination of professional buying programs and newly found optimism about interest rates sent stock prices sharply higher Thursday, giving Wall Street its best gain in more than a month. The Dow Jones industrial average recovered from a moderate loss on Wednesday and rose 31.13, to 1,806.30.
John Connolly, of Dean Witter Reynolds Inc., said the rise in large part was caused by the buying of professionals, who, seeing that stock index futures had risen sharply, reversed direction and started investing in the underlying stocks.
IBM fell $1.12, to $143.37. A pessimistic report on the company was issued by the brokerage firm of Furman Selz Mager Dietz & Birney Inc.
RJR Nabisco gained $1.62, to $45 on continuing rumors that Nabisco will sell its Kentucky Fried Chicken subsidiary. But the company said it had no such plans. Upjohn rose $5.50, to $88.87, after it said its baldness drug minoxidil may be on the market next year. On the over-the-counter market, Quotron was heavily traded but finished unchanged at $19. Citicorp began a $19-a-share offer for Quotron, an information services firm.
http://articles.sun-sentinel.com/1986-05-23/business/8601310189_1_rjr-nabisco-quotron-dow
