Stock market rebounds on coordinated yen rescue effort
The Dow rose 164.17 to 8829.46 after a two day decline as the U S and Japan coordinated intervention boosted the yen The rally followed gains in Hong Kong Seoul Singapore and Jakarta with traders betting Washington would prop up the Japanese currency The Fed sold dollars for the first time since 1992 to support Japan and markets welcomed the move The yen rallied while U S export costs faced pressure from a stronger dollar Japan pledged bold economic steps to tackle bad loans unemployment and weak consumer spending.
MENTIONED IN THIS ARTICLE
New York
United States
Japan
Asia
Hong Kong
Seoul
Singapore
Kuala Lumpur
Jakarta
Ton
U.S
Federal Reserve
Wall Street
Washington
Clinton
White House Rose Garden
Hashimoto
U S intervention aims to steady yen amid Asian crisis
Washington mobilizes dollar sales to prop up the yen as U S stocks rise on hopes the move will curb Asia's financial turmoil. President Clinton and Japanese Prime Minister Hashimoto stress decisive steps to restore Japan's banking health, domestic demand growth, and open markets. Rubin links the action to Japan's pledged reforms and Asia's stake in global economy.
MENTIONED IN THIS ARTICLE
Washington
United States
U.S
Clinton
Asia
America
Tokyo
Ryutaro Hashimoto
Hashimoto
Mike McCurry
Japan
Treasury
Robert Rubin
Washington Fly-in draws West Virginia business leaders
Charleston report notes West Virginia business representatives meet in Washington for the Washington Fly-in sponsored by the West Virginia Chamber of Commerce. The two-day event features meetings with Sens Byrd and Rockefeller and Reps Mollohan Rahall and Wise. Friday sessions cover IRS reform, the U S Chamber Institute for Legal Reform, and S 981 the Regulatory Improvement Act.
MENTIONED IN THIS ARTICLE
Washington
Charleston
West Virginia
West Virginia Chamber of Commerce
Capitol
Robert C. Byrd
John D. Rockefeller IV
Alan B. Mollohan
Nick J. Rahall
Bob Wise
United States Chamber of Commerce
Internal Revenue Service
U.S. Chamber
Institute For Legal Reform
Also Mentioned on This Page
Ron Campbell
AFLAC
Ameritech
At&t Corp
Anheuser-Busch
Apple Computer
IND. Tech
Ashland Coal Inc
Ashland Oil Inc
Atlantic Richfield
Baker-Hughes Inc
Baltimore Gas & EL
Bell Atlantic
Bellsouth Corp
Bethlehem Steel
Boeing CO
CBS Corp
Cabot Oil & Gas
Chubb Corp
Citizens Utilities
Coca-Cola CO
Columbia Gas Sys
Columbia Healthcare
CON
Nat'l Gas
Corning Inc
Crestar Financial
CSX Corp
Detroit Edison
Dominion Res
DOW Chemical
Dupont
Eastern Ent
Eastman Kodak
Emerson Electric
Ethyl Corp
Exxon Corp
First Union Corp
Virginia Bank
Flowers Industries
FMC Corp
Food Lion Inc
Ford Motor CO
GEN. Electric CO
GEN. Motors Corp
GTE Corp
Georgia Pacific Gillette CO
Glaxo Holdings
Goodyear Tire
Hercules Inc
Humana Corp
BM Corp
Ingersoll-Rand
Intel Corporation
K-Mart Corp
Kroger CO
Lowe's CO
Lucent Technologies
Mapco Inc
McDonald's Corp
Merck & CO. Inc
Microsoft Corp
Mobil Corp
Monsanto CO
Mylan Labs, Inc
Nash Finch CO
Nationsbank Corp
Navistar Int'l
Nike, Inc
Norfolk Southern
Occidental Pete
C. Penney CO
SERED
Pepsico Inc
Phila. Electric
Philip Morris Cos
Phillips Petroleum
Astet Rao Burlington ii Zi
PWR Praxair, Inc
Reynolds Metals
Rite Aid Corp
RJR Hldg
Sara Lee Corp
BUCK
Sherwin Williams
Shoney's Inc
Tenneco Inc
TRI Continental
Union Carbide
Union Pacific
Unisys Corp
Universal Corp
Usair Group
USX
Marathon Oil
Usx-U.s. Steel
Wal-Mart
Walt Disney CO
Wendy's Int'l
Westwaco Corp
Valley Nat'l Gases
Yen
Mercer Mall
Bluefield
Abbey Carpet
American Eagle
Moss Clothing
Bopdy Works
Rauch Jewelers
Cellular One
Ceramic Barn
Chick-Fil-A
Claire’s Boutique
Coach House
Gifti Dei
Great American Cookie CO
Hair Plus
Hanover Shoes
Hickory Farms
Ay’s
Hallmark AY Jewelers
Lane Bryant
WES Lillys’ Jewelers
Lotus Garden
Maurice’s
Merle Norman Nam Musi
Payless Shoes
Petland Plumb Gold
Regie Shoe Dept
Spencer Gifts
Waldenbooks
Dad Cellular
le Forgo
Beckley
Harper Road
Crossroads Mall
Bluefield Mercer Mall
Lewisburg
N. Jefferson Street
Richlands Claypool Hill
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