NEW YORK MARKET
Peace Scare Retreat (N.Z. Press Assn. —Copyright) NEW YORK, February 9. The stock market in New York retreated on a “peace scare” yesterday but the list managed to make a substantial recovery before the close of trading, United Press International reported. Trading was hectic. Prices were on the rise early but later retreated as news of a North Vietnam peace “feeler,” reportedly made in a Note to Indian officials, spread through the exchange. However, the down-trenr did not last long and the list began to work back in the fifth hour of trading. Trading became so hectic the high-speed tickers fell as much as 19 minutes behind floor transactions at one point—a record—but managed to catch up minutes before the close. Dow-Jones Up Dow-Jones industrials, reflecting the late improvement in blue chips, finished up 1.34 at 991.03. The decline did little to upset the analysts’ confidence in the strength in the list but rather went a long way towards bolstering it. The fact that prices were able to rebound after such a sharp decline is always considered indicative of underlying strength, and this factor only adds to the brokers’ belief that the market will soon make a test of its alltime highs.
Latest Indices Latest share price ndices are: — London.— Financial Times (indu st rial ordinary, 1935, equals 100; Government, 1926, equals 100; gold, 1955, equals 100): 1964 Industr. Govt. Gold Oct. 1 .. 377.8* 82.15 56.4 1965 Dec. 31 .. 339.7 78.74 60.5 1966 Feb. 4 .. 358.2 79.32 63.8 Feb. 7 .. 358.0 79.9 63.7 Feb. 8 .. 355.1 78.87 63.7 New York.—Dow Jones: 1965 Rails. Indust. Sold Dec. 31 247.48 969.26 7,240,000 1966 Jan. 18 258.46 994.20* 9,790,000 Feb. 4 259.70 986.35 7,560,000 Feb. 7 261.99 989.69 8,000,000 Feb. 8 262.96 991.03 10,560,000 Sydney.— Sydney Stock Exchange (July, 1931, June, 1939 equals 100): 1964 Retail Ord. ndust. Feb. 27 .. 472.60 392.21* 395.24 Dec. 3-1 . . 424.76 367.03 398.11 1965 Dec. 30 .. 360.16 320.76 353.45 1966 Feb. 7 .. 363.96 329.54 364.23 Feb. 8 .. 362.65 329.82 364.98 Feb. 9 .. 362.58 330.56 365.88 ♦Peak
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Bibliographic details
Press, Volume CV, Issue 30981, 10 February 1966, Page 17
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341NEW YORK MARKET Press, Volume CV, Issue 30981, 10 February 1966, Page 17
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