Wall Street easy last week
Prices on the Wall Street sharemarket declined over a broad point last week amid concern over a possible move to tighten credit, and an increase in the pritrie lending rate by several major banks. ’ .
The announcement by President Carter of $27,D00M in tax cuts next year , also adversely affected sentiment. The president said that the cuts would stimulate investment, and the additional spending would help to create more jobs. On Friday the Government reported a record increase in the index of leading U.S. economic: indicators, but fears of interest rate increases persisted. . The Dow Jones average of 30 industrials edged up 2.21 to close at 932.59, reducing its loss for the . week to 25.60 points.- For the month of August, the Dow finished with a decline of 2.73.
Closing prices of a selection of shares were;. A.8.C1. 31 3/4; Alcan, 31 5/8; Alcoa, 58; Atnax, 43; Amarada
Hess, .30 5/8; Am. Express, 34 7/8; American , Motors, 5 3/4; Armco, 32; i AsarcO, 39 3/4; AT. and T,, 53.1/2; Ati: Rich., 45; Beth. Steel, 25 1/4; Boeing, 38; Borden, 25; Burroughs, '66 1/4; C. 8.5., 50 5/8;. Citicorp, . 22 1/4; Coca Cola. 35 5/8; Cont. Oil, 31 1/4; Digital Eq., 8? 1/2; Disney, 49 7/8;- Dome Mines, 111 1/4; Dow, 34 7/8; Du Pont, 44 3/4; East. Kodak,. 64 1/8; Engelhard, 47; Exxon, 70; Firestone, 8; Ford, 27 5/8; Free: Min., 56; Gen. Dynani;. 71 5/8; Gen Electric, 54 5/8; Gen. Motors, 53 5/8; Gen: Tyres; 19 1/2; Goodyear, 15 7/8; Greyhound, 15 1/8; Grumman. 23 3/4; Gulf Oil, 41; Haliburton, 111 1/8; -Homestake, 78 7/8; Honey: well, 88 5/8; 1J8.M., 65 1/4; Int. Harv., 31 3/4; Inco, 24 7/8; 1.T.T., 30 1/2; Johns Manv, 23 : 5/8; J. and J., 79 ■ 3/8; Kaiser, ■24 1/2; Kennecott, 28 1/8; K-Mart. 23 1/8; Lockheed, 32 5/8; McDonalds, 47 7/8; McDon. Doug., .34 5/8; M:G.M.. 7 -3/4; M.M.M., 57 7/8; Mobil, 69 7/8; Monsanto.' 54 3/4; N.C.R., 70 5/8:1 Newm. Min., 49; Pfizer. 41,1/8; Phel Dodge, 34 3/8; Phil. Pet.,.43 1/4; Polaroid, 27 7/8; Pullman, 41; Raytheon, 85 1/2; R.C.A., 26 3/8; Reyn Meta], 36 5/8; Royal Dutch, 87 1/8; Seagram, 57; Sears Roe.. 17 1/2; Shell Oil, 37 1/2; Shell Trans.. 38 3/4; Sperry Rapd, ;.52 3/4; St Joe, 57 1/2; Socal, 73 3/8: Texaco, 37 3/8; Texas Gulf, 43 3/4; Texas Inst., 120 3/4: Union Carbide. 45 1/4; Union . Oil, 33; U.S. Steel, 22 1/2; Westinghouse," 25 7/8; Wwths, 26 1/4; Xerox, 58 3/4.
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Press, 1 September 1980, Page 28
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417Wall Street easy last week Press, 1 September 1980, Page 28
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