BUSINESS NOTES NYSE PLANS TO GO ENTIRELY DECIMAL.BOCA RATON, Fla. - The New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. will complete its conversion to stock trading in decimals by the end of January, its president said Thursday. At the annual Securities Industry Association meeting, Richard Grasso said he is confident the exchange and brokerages will be able to handle the transition. The NYSE NYSE See: New York Stock Exchange has been gradually phasing in decimal trading Decimal trading The quotation and trading of stock or bond prices in decimals, as opposed to the quotation of prices in fractions. since August. More than 100 stocks are currently traded in decimals on the NYSE with more to be added later this month. The American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. , which also has been phasing in decimals for stock trading since August, said it plans to complete its conversion at the same time the NYSE does. The Securities Exchange Commission has given the markets until April 9 to fully convert to decimals all stock and options trading. - Associated Press Glum glum adj. glum·mer, glum·mest 1. Moody and melancholy; dejected. 2. Gloomy; dismal. n. 1. holiday may dampen retailers NEW YORK - The holiday outlook grew dimmer dim·mer n. 1. A rheostat or other device used to vary the intensity of an electric light. 2. a. A parking light on a motor vehicle. b. A low beam. for retailers Thursday as evident from disappointing earnings reports from several prominent companies as well as a warning by Best Buy. From leather jackets to DVD players, the funk in consumer spending appears to be broadening. The news prompted shares of these retailers, spanning from Gap Inc. to discount chain Ames Department Stores, to drop. - Associated Press Grant to help train teens for show biz SACRAMENTO - Gov. Gray Davis announced Thursday a $1 million federal grant to train high school students for entertainment industry jobs. The grant is managed by the Hollywood Entertainment Museum. - Daily News |
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