Wall Street market at record level

Press, Volume CXII, Issue 33096, 11 December 1972, Page 23

Wall Street market at record level

Records were broken on three trading days last week on the New York Stock Exchange; on Monday, Tuesday, and Thursday the market achieved successively higher levels, and on Thursday stood at the highest level in history.

.(moves of the Vietnam war,” (said Mr W. Nelson, of i! Moodys’ investors’ services. ; “But once the war is com(pletely settled, and they can 1 ( turn attention to the fundamentals. there is a favour- • Sable background in the eco- ; nomic and earnings situations.” j Alcan. 23J; Alcoa. 541; (Amerada Hess, 46J; ,|32i; Asarco, 192; Anaconda. 201; ' AU. Richfield. 78; Cont. Oil, 391; Dome Mines. 68, Dow, 1011; Engelhard, 28: Freeport, 261; 80J; Greyhound. 181; Gulf i Oil. 261; Homestake, 261; Hudson .Bay. 20J; IBM., 463; Inco., 32|; [ Kaiser. 19: Kennecott, 23; Kerr I McGee. 651; Louisiana Land. 441; Martin Marietta 19|; Mobil. 741; iNewmont, 281; Phelps Dodge, 382; Philips Pet . 42J; Reynolds, I 17; Royal Dutch, 411: St Joseph. 26; Shell OH, 581; Shell Transport, 33J; St<l Oil Cal , 801: Std HOU Ind 87; Exxon. 881; Std OU iOhio, 97; Texaco. 38j; Texas Gulf. 'IBJ; 'T.W.A., 47J; Union OU Cal., 41: Utah. 772: Wwths 342; Amer. H Sth Afr. Inv.. 42.

On Friday share prices! were consolidated, and the' Dow Jones average eased; 0.07 to 1033.19. Thursday’s, gain was the more impressive! because it took place in the face of a Labour Department report showing an increase; in wholesale prices during November. As an isolated factor, this! was not a bullish development in the Administration’s fight against inflation. “If the market were vulnerable or looking for an; excuse to sell off.” commen-| ted a broker, “that wholesale; price report would have off-| ered a perfect excuse.” Earlier, on Tuesday, WallStreet had suffered from a; bout of profit taking, which was overcome the next day.; “Investors still are a little concerned over the final