Responses of the Stock Market to Macroeconomic Announcements Across Economic States /

Is the stock market responsive to macroeconomic news? This paper employs the daily returns of the Dow Jones Industrial Index, the S and P 500 index, the Russell 1000 index, and the Russell 2000 index to examine stock market reactions to a broad list of macroeconomic announcements, including money su...

Full description

Bibliographic Details
Main Author: Hu, Zuliu
Other Authors: Li, Li
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 1998.
Series:IMF Working Papers; Working Paper ; No. 1998/079
Online Access:Full text available on IMF
LEADER 01760cas a2200253 a 4500
001 AALejournalIMF000644
008 230101c9999 xx r poo 0 0eng d
020 |c 5.00 USD 
020 |z 9781451850178 
022 |a 1018-5941 
040 |a BD-DhAAL  |c BD-DhAAL 
100 1 |a Hu, Zuliu. 
245 1 0 |a Responses of the Stock Market to Macroeconomic Announcements Across Economic States /  |c Zuliu Hu, Li Li. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1998. 
300 |a 1 online resource (29 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Is the stock market responsive to macroeconomic news? This paper employs the daily returns of the Dow Jones Industrial Index, the S and P 500 index, the Russell 1000 index, and the Russell 2000 index to examine stock market reactions to a broad list of macroeconomic announcements, including money supply, inflation, employment, housing starts, and trade balances, et cetera Several announcements concerning real economic activity that have received little attention in previous research are shown to have a significant impact on stock prices. The paper also presents preliminary evidence for the different reaction to macroeconomic news by small cap stocks and large cap stocks. 
538 |a Mode of access: Internet 
700 1 |a Li, Li. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1998/079 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1998/079/001.1998.issue-079-en.xml  |z IMF e-Library