Wall Street
The New York Stock Exchange closed on. an easier note on Friday,' with the Dow Jones average of 30 industrials down 8.79 points to 884.98, for a net loss on the week of 10.75 points. The market opened the week on a depressed note after profit-taking on strong oil and defense issues offset gains by other natural resource stocks. Analysts said expectations of further credit tightening by the Federal Reserve prompted the profittaking.
The market recovered on Tuesday after reports of hopeful developments in the Iran crisis and a shift by investors into glamour and blue chip stocks. Traders were also encouraged when the market refused to give up ground to the profit-taking that had developed on Monday. Closing prices on Friday of a selection of stocks were: A.8.C., 35; Alcan, 58 1/2; Alcoa, 67; Amax, 54 1/2; Amarada Hess, 57; Am. Express, 28 3/4; Am. Motors, 8 5/8; Armco, 30 3/8; Asarco. 52; A T. and T., 50 3/4; Arco, 98; Beth. Stl, 25 1/8; Boeing, 61 3/4; Borden, 22 3/4; Burroughs, 75; C. 8.5., 51 1/8; Citicorp, 21 3/8; Coca Cocla, 33 7/8; Cont. Oil, 55 1/2; Digital Eq. 76 1/8; Dome Mines, 65 5/8; Dow Chem., 36; Du Pont, 40 3/8; East Kodak, 47 3/8; Engelhard, 35 7/8; Exxon, 64 1/8; Firestone, 3 7/8; Ford, 32; Free Min., 65 3/4; Gen. Dynam., 72 1/2; G.E.C., 52 3/4; G.M.C., 51 3/4; Gen. Tyres, 17 3/8; Goodyear, 12 3/4; Greyhound, 18; Grumman, 27 1/4; Gulf Oil, 44 3/4; Haliburton, 103 1/2; Homestake, 56 1/4; Honeywell, 95; 1.8. M., 67 5/3; 1.H., 34 1/8; Inco, 29 1/2; 1.T.T., 29 1/4; Johns Manv., 22 1/4; Kaiser Alum., 23 3/4; Kennecott, 41 1/4; K. Mart, 21 1/8; Lockheed, 39 1/8; McDon. Doug., 43 3/4; M.G.M., 19 3/8; M.M.M., 52 1/2: Mobil, 63 1/2; Monsanto 54 3/8; N.C.R., 77; Newm. Mln., 53; Pfizer, 36 1/4; Phelp Dodge, 43 1/4; Phil. Pet., 56 1/4; Polaroid, 23 1/4; Pullman, 31 3/8; Raytheon, 75 1/8; R.C.A., 24; Reyn. Metal, 38 1/4; Royal Dutch, 84 1/4; Seagram, 48; Sears Roe., 17 1/4; Shell OU, 70 1/2; Shell Trans., 34 1/4; Sperry Rand, 55 3/8; St Joe., 48 1/2; Socal, 70 1/8; Texaco, 37 7/8; Texas Gulf, 49; Texas Inst., 102; Union Carb., 43 3/4; Union Oil Cal 56 1/2; U.S. Steel, 21 1/3; Westinghouse, 24 1/2; Wwths, 24 1/8; Xerox, 64 7/8.
Wall Street
Press, 18 February 1980, Page 20
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