Wall Street last week
The Wall Street stock market rose sharply last week: the Dow Jones industrial average closed on Friday at 839.83 — a rise of 27.37 points on the week and one of the biggest weekly gains this year. ’ The gains were made in (two steps; earlier in the week buyers moved in for technical reasons, also looking for bargains after the steady four-week decline in most issues. On Friday the market received a boost from a SI6OOM domestic aircraft purchase that affected the fortunes of many major United States corporations. Closing prices on Friday of a selection of shares were; Alcan. 27J; Alcoa. 43g; AU. i Stores, 25g; Amax, 37J; Amerada Hess, 29k Am. Motors, si; Arm-
co. 291; Asarco. 148; A.R.C.0., 495; Bethlehem, 22J; Boeing, 591; Boise Case., 288; Burroughs, 751; Clev. Cliffs, 60k C. 8.5., 53L Colt, 38; Con. Oil, 2&; Crane, 28; Cyprus, 171: Dome Mines, 77k Dow, 248; Engelhard, 221; Firestone, 13k Ford. 46;; Freeport, 27g; Gen. Dyn., 761; G.M.C.. 615; Gen. Tire, 275; Getty Oil, 1381; Goodyear, 16J; Greyhound, 125; Grumman, 208: Gulf Oil, 233; Gulf Res., 9k Heinz, 402; Homestakes, 341; Hudson Bay 158; 1.8. M., 2671; 1.H., 37a; Inco. 16; John Manv. 29?; J. and ij 821; Kaiser, 328: Kennecott, 221; Kerr McGee. 43; Lockheed. 1221; Louisiana Land. 15; Lukens. 1351; Lykes, 7g; Martin Marietta, 291- Merrill Lynch, 185; Mobil, 62-’ N.C.R.. 555; Newmont, 171; Occ. Oil, 213; Phelps Dodge, 21’,; Phillips Pet., 31J; Pittson, 218; Proler, 205; Pullman, 335; Rex Steel, 22g; Reynolds. 31; Royal Dutch. 60: St Joe, 238: Seaboard, 31i; Shell Oil. 335; Socal, 401; Soind, 483; Sohio, 318; Exxon, 458; Texaco. 265; Texas Gulf, 193; T.W.A., 20?; Union Oil, 475; Union Carbide, 385; U.S. Steel, 26k Westinghouse, 22; Wwths, 19.
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Press, 17 July 1978, Page 14
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293Wall Street last week Press, 17 July 1978, Page 14
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