TY - BOOK ID - 84542349 TI - Responses of the Stock Market to Macroeconomic Announcements Across Economic States AU - Hu, Zuliu. AU - Li, Li. PY - 1998 SN - 1462321720 1451989474 1281430447 9786613780379 1451896360 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Banks and Banking KW - Finance: General KW - Inflation KW - Macroeconomics KW - Industries: General KW - Price Level KW - Deflation KW - General Financial Markets: General (includes Measurement and Data) KW - Interest Rates: Determination, Term Structure, and Effects KW - Macroeconomics: Production KW - Financial Markets and the Macroeconomy KW - Information and Market Efficiency KW - Event Studies KW - Finance KW - Asset prices KW - Stock markets KW - Discount rates KW - Industrial production KW - Prices KW - Financial markets KW - Financial services KW - Production KW - Stock exchanges KW - Discount KW - Industries KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542349 AB - Is the stock market responsive to macroeconomic news? This paper employs the daily returns of the Dow Jones Industrial Index, the S&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, etc. 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. ER -