Have Stocks Lost News Value?: Why Record Gain Failed to Land on Page One
TJERE WE have a stock * market that breaks records, yet doesn't get as much news attention as Fidel Castro does when he wiggles his ears.</br></br>Last week, industrial stocks had their best weekly gain in the history of the Dow-Jones averages. These averages go back to Jan. 1, 1897. Certainly with prices what they were back in those daysÛÓ41 for the industrials and about 52 for the railsÛÓthere never was a gain previously to match last weekÛªs 25.90 points.</br></br>The news of this wide gain was carried on the financial pages but there were no banner lines proclaiming it from page one.</br></br>7. the market showed a weekly gain of 24.51 points, the previous record, the news was all over page one. And that's all one heard in the speakeasies, on the streets, in the clubs, and even the churches.</br></br>Answering these in order: There's nothing the matter with the market. Newspapers are giving the market all the space it deserves, And people arc interested.