01760cas a2200253 a 4500 AALejournalIMF000644 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451850178 1018-5941 BD-DhAAL BD-DhAAL Hu, Zuliu. Responses of the Stock Market to Macroeconomic Announcements Across Economic States / Zuliu Hu, Li Li. Washington, D.C. : International Monetary Fund, 1998. 1 online resource (29 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet Li, Li. IMF Working Papers; Working Paper ; No. 1998/079 Full text available on IMF http://elibrary.imf.org/view/journals/001/1998/079/001.1998.issue-079-en.xml IMF e-Library