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Title:
Stock market guide
Word Count:
589
Summary:
Stock market is an inquisitive place for many. It is because the
place has given birth to many millionaires
and is also responsible for turning millionaires to locals.
Keywords:
stocks,history,finance,wall
Article Body:
Stock market is an inquisitive place for many. It is because the
place has given birth to many millionaires
and is also responsible for turning millionaires to locals. Thus
the bulls and bears have always been
charismatic. Now millions of people invest in the stock market
to make good money. The aura of the place
is such that it is swarming with people any hour of the day and
any season of the year. But only few know
that how the stock market came into existence or what actually
are its origins.
A short encounter with the past
The oldest stock certificate was issued in favor of a Dutch
company in 1606. The purpose of this company
was to benefit from the spice trade between India and the Far
East. During the 18th and the 19th centuries
the trade of spices drifted to England when Napoleon reigned
over the place. With the development of
United States of America as a colony to British and Alexander
Hamilton (the first US secretary of the
Treasury) flourished the American Stock Exchange. Hamilton
played a crucial role in encouraging the
trading in the Wall Street and Broad Street in New York. The New
York Stock and Exchange Board now
popularly known as the New York Stock Exchange was organized by
the traders of New York in 1817 whentrade and commerce bloomed
there.
A precise survey of the Western stock market
The Wall Street- a place where the whole of 18th century trade
and commerce took place, Wall Street is a
recognized place across the globe. The street was termed as Wall
Street since it ran alongside a wall that was
taken as the northern boundary of New Amsterdam in 17th
century.
The Wall Street is known for the J.P. Morgans million dollar
merger that created US Steel Corporation, the
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ruinous crisis that resulted in Great Depression and the Black
Monday of 1987.
The NYSE or the New York Stock Exchange is perhaps the foremost
and so the oldest stock exchange in
United States that is believed to be born in 1792. The
significant aspects related to NYSE include the
Buttonwood Agreement when 24 stockbrokers and traders of New
York signed this accord and established
the New York Stock Exchange and Securities Board which is now
recognized as the NYSE; the
considerable swings that the NYSE saw during the 20th and 21st
century; the hitting of the 100 and later
even 1000 mark by the Dow around 1971 and the mark of 10,000
that the Dow scaled in 1999.
NASDAQ is the National Association of Securities Dealers
Automated Questions. It is an apparent or
virtual stock market where all trading is done through the
electronic media. NASDAQ, the global and the
largest electronic stock market today was first established in
1971 in United States at the time when
computers were not as developed as they are today and it was
very difficult to compute. The main exchange
of NASDAQ is in United Sates while its branches can be found in
Canada and Japan and it is also linked to
markets of Hong Kong and Europe. NASDAQ functions by purchasing
and selling the over- the- counter or
OTC stocks.
AMEX-was discovered in 1842. The putative father of the
institution is Edward Mc Cormick (the
commissioner of SEC) who endowed it with its current name. It
started its journey as the New York Curb
Exchange and its name is factual. The AMEX in contrast to the
NYSE operates with the small and more
dynamic companies some of which even make it to the NYSE
board.
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