Stock game leader extends lead
By LARRY RINGLER Tribune Chronicle
POSTED: May 11, 2008
Linda Doeberling gained a bit of breathing space at the top of the Tribune Chronicle-Butler Wick Stock Game in April, although more by seeing her new challenger slip than by her stock gaining ground.
The Cortland resident saw *description Amrep Corp. dip to a 70.7 percent return for the year through April from 71.2 percent the previous month. But new runnerup, Demetrio Minniti’s Elan Corp. produced a smaller return — 21 percent — than the previous runnerup, Yucheng Technologies, which fell from 27.4 percent after March to fourth place at 16.2 percent.
Stock markets made good gains in April, although they remain in the red after three down months to start the year. The Federal Reserve continued to prime the pump with its seventh interest rate cut on April 30 — its seventh reduction since September ñ in an effort to stimulate a sluggish economy.
The technology-laden Nasdaq responded by gaining 5.1 percent, while the Standard & Poor’s 500 rose 4.3 percent and the Dow Jones Industrial Average climbed 4.2 percent. They remain underwater, however, at 9 percent, 5.6 percent and 3.4 percent, respectively.
But as Bill Walsh, the Howland-based Butler Wick vice president who tracks the contest results noted, the Fed is trying to balance interest rate cuts to boost the economy, but keep inflation under control, as well.
lringler@tribune-chronicle.com
