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Aiken Standard in Aiken, South Carolina

01 Nov 1987

Page 3

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This newspaper page contains 2 articles. Subscribers can read the full text of each article.

Newspaper

Aiken Standard

Location

Aiken, South Carolina, United States of America

Date

Nov 01, 1987

Page

3

Wall Street Eyes Recovery After 1987 Crash

The article notes Wall Street’s first substantive rally since the Black Monday crash of Oct 19, with the Dow up about 11 percent to 1,993.53 over four sessions. Analysts warn of a possible bear rally or “sucker rally” and stress that interest rates and the wealth effect will shape the longer-term outlook.

MENTIONED IN THIS ARTICLE

New York Wall Street Justin Mamis Cowen & Co Joseph Barthel Manhasset N.Y Butcher & Singer Inc Federal Reserve Suresh Bhirud Oppenheimer & Co David Levy S. Jay Levy Japan United States
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Investment Houses Struck by Wall Street Oct Crash

The October massacre on Wall Street inflicted heavy damage on investment houses from Grand Rapids to New York. One Midwest broker vanished, Haas Securities faced collapse, and several specialists faced forced sales or bailouts. Merrill Lynch acquired A.B. Tompane & Co. Santa gelo & Co. was sold to Spear Leeds Kellogg. Despite volatility, many retail firms opened new accounts as the market fell.

MENTIONED IN THIS ARTICLE

New York Wall Street Samuel A. Hayes III Harvard Business School H.B. Shaine & Co Grand Rapids, Mich Haas Securities Corp Merrill Lynch & Co New York Stock Exchange A.B. Tompane & Co Santagelo & Co American Stock Exchange Spear, Leeds
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Also Mentioned on This Page

Kellogg Dow Shearson Lehman Bros London Stock Exchange Far East Britain British Petroleum DuPont Skipper Anne Perry Heritage J.B. White
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