Elves is a slang term that Luis Rukeyser, long-time host of the weekly PBS television show "Wall Street Week," gave to the 10 technical analysts who appeared regularly on the program. The elves were frequent guests from the show's premiere on Nov. 20, 1970, until immediately after the terror attacks of Sept. 11, 2001. The elves attempted to predict the direction of the market in the coming months and gained popularity due to their inability to make accurate predictions.


The elves' predictions on Wall Street Week, which ran every Friday night, were based purely on their technical analysis, rather than economic fundamentals, and were rarely correct. Their views were combined into the Elves Index, which host Luis Rukeyser showed to viewers on each week's broadcast. The index was widely considered a contrarian indicator. It was deeply negative in the immediate aftermath of the September 11 terror attacks; Rukeyser discontinued both the elves and the index at that point. Fox News revived Wall Street Week in 2015 but did not bring back the elves.


Wall Street Week was created by producer Anne Truax Darlington for Maryland Public Broadcasting, which is part of PBS. Darlington recruited Luis Rukeyser to host the show, which premiered on just 11 stations of the Eastern Educational Television Network. EETN is now known as American Public Television, and it is the oldest distributor of public television programming in the United States. Wall Street Week quickly became one of the most popular programs on the then-new PBS network. At the height of the show's popularity, it ran on over 300 stations and had a weekly viewership of more than 4.1 million.

Luis Rukeyser

Wall Street Week host Luis Rukeyser was a graduate of Princeton University who worked as a correspondent for the Baltimore Sun newspaper and ABC television before his hosting duties. He notably did not quit his job as an economic correspondent for ABC until Wall Street Week had been running for more than two years, because he was not confident that it would be a success.

Rukeyser was known for frequently using puns in his broadcasts. He routinely asked his guests to view the audience as intelligent people who were not experts in either economics or the financial markets. He hosted Wall Street Week on PBS until 2002, at which time the producers decided to replace him with a younger host. They renamed the show Wall Street Week with Fortune, named for Fortune magazine, but it never had the same success. and was cancelled in June 2005. Rukeyser went on to host Louis Rukeyser's Wall Street on CNBC for several years but left in 2003 for medical reasons. He died of bone cancer in May 2006.

  1. Main Street

    A colloquial term used to refer to individual investors, employees ...
  2. Wall Street

    1. A street in lower Manhattan that is the original home of the ...
  3. Social Host Liability

    A legal term and area of law that deals with the liability of ...
  4. Bay Street

    A street in Toronto, Canada that is home to several major banks, ...
  5. Wedding Warrant

    A warrant that can only be exercised if the host asset, typically ...
  6. Wall Of Worry

    The financial markets' periodic tendency to surmount a host of ...
Related Articles
  1. Investing

    Why Wall Street Is A Key Player In The World's Economy

    Wall Street is just one little street in lower Manhattan, but both empirically and symbolically, it continues to make the world go round.
  2. Markets

    The Frosty, Festive World Of Investing

    From Santa Claus rallies to evergreen loans, Wall Street can be a veritable winter wonderland for investors.
  3. Personal Finance

    Presidential Candidates And Wall Street In 2016

    Wall Street's influence will play a large role in the 2016 presidential race. As election season begins, candidates are showing their true colors.
  4. Professionals

    How To Get A Job On Wall Street

    Although Wall Street has its share of problems, finding people who want to become traders isn’t one of them.
  5. Investing

    Elves And Gnomes: Fairy Tale Investment Terms

    What do elves have to do with investing? Meet the fairytale creatures running around Wall Street.
  6. Professionals

    How To Get A Job On Wall Street

    There are many roads that lead to Wall Street, but here are some of the more direct routes.
  7. Investing

    Amazon Snags Exclusive PBS Kids Streaming Rights (AMZN, NFLX)

    Fans of kids shows such as Arthur and Daniel Tiger’s Neighborhood may now want to subscribe to Amazon's Prime streaming service.
  8. Managing Wealth

    Making It Big On Wall Street

    Read about some of the most glamorous Wall Street jobs and what it takes to land one.
  9. Professionals

    How To Land a Wall Street Job Out of College

    Getting a job on Wall Street right after college can be difficult, but there many paths that eventually lead to Wall Street.
  10. Personal Finance

    The Pros and Cons of Using Airbnb

    Here, we look at Airbnb - what it is, how it works, and the pros and cons of using this online rental marketplace.
  1. What are elves?

    Elves are used to describe the technical analysts that are guests of the PBS show Wall Street Week. The job of these technical ... Read Answer >>
  2. Where does the name "Wall Street" come from?

    As with many of the famous streets and roads in the world, Wall Street's origins have historical significance. Its name is ... Read Answer >>
  3. What does the saying "What's good for Wall Street is bad for Main Street" mean?

    Let's start by defining the terms "Wall Street" and "Main Street". Wall Street, in its broadest sense, refers to the financial ... Read Answer >>
  4. Where did the term "tenbagger" originate?

    On February 15, 1989, Peter Lynch's investing book, "One Up On Wall Street", made its debut. At the core of the book was ... Read Answer >>
  5. How is something "brought over the wall" in an investment bank?

    An analyst who lends his or her expertise to an underwriting department is said to have been "brought over the wall". In ... Read Answer >>
  6. Who owns Dow Jones & Company?

    Learn how the purchase of Dow Jones & Company by News Corp. included the acquisition of The Wall Street Journal, Barron's ... Read Answer >>
Hot Definitions
  1. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  2. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  3. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  4. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
  5. Omnibus Account

    An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined ...
  6. Weighted Average Life - WAL

    The average number of years for which each dollar of unpaid principal on a loan or mortgage remains outstanding. Once calculated, ...
Trading Center