Wall Street last week
Share prices on the Wall Street stockmarket declined last week, although the market recovered a little since Wednesday, and prices .closed off the bottom. I The Dow Jones average [lost 5.74 points for the [week.
Analysts listed several adverse influences: they in-
cluded Wall Street’s perception of the climate in Congress as unfavourable to business. On Tuesday the United States House of Representatives approved a tax bill that did not include the added investment tax credit proposed by President Carter for businesses. There was also a prediction by New York’s Citicorp that short term interest rates will rise iby 1 to 1.5 per centage points this year.
One favourable influence cited by analysts was a week-end report showing a surge in leading manufacI turers’ appropriations for 'capital spending late last [year.
Closing prices on Friday of a selection of shares were:—
Alcan, 27; Alcoa. 57J; All. Stores, 41jj; Aims, 484; Amerada Hess. 31J; Ain. Motors. 4; Armco, 29: Asarco, 181; Arco, hem. 37J; Boeing. 43J; Boise Case., 32; Burroughs, 673: Clev. Cliffs, 664; C. 8.5., 578; Colt, 50.’.; Con. Oil, 34; Crane. 298; Cyprus. 24,; Dome Mines. 46J: Dow . 38; Engelhard. 34J; Firestone, 218; Ford, 578; Freeport. 273: Gen. Dmk. 563; G.M.C.. 714; Getty Oil, 197: Goodyear, 204: Greyhound. 143: Grumman, 163: Gulf Res.. 17J; Heinz. 32; Honiestake. 414: 1.8. M., 2823; 1.H.. 33; Int. Mng, 17: Inco, 301; Johns Manv, 313; J. and J , 70J: Kaiser, 36}: Keimecott. 27;: Kerr McGee. 67J; Kresge. 332; Lockheed, 10; Louisiana Land, 273; Luckens, 338; Lj kes Y.. 12; Martin Marietta. 248; Merrill Lynch, 195; Mobile, 685; N.C.R., 351: Newmont,, 284; Occ. Oil, 26: Phelps Dodge. 34J; Phillips Pet., 58: Pittson,; [344: Proler, 308; Pullman, 34: Rep. Steel. 331: Revnolds, 40'.; St Joe. 391; S’eaboard, 344: Shell’ Oil. 71: Shell Transport, 341:1 Socal, 404: Soind, 528: Sohin. S 3. Exxon, 521; Texaco, 278; Texas: Gulf. 302: T.W.A., 101: Union' Oil Cal.. 57J; Union Carbide, 591;' U.S. Steel. 471; Westinghouse. 174; AVroths, 25.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19770314.2.117
Bibliographic details
Press, 14 March 1977, Page 14
Word Count
333Wall Street last week Press, 14 March 1977, Page 14
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.