Wall Street last week
The Wall Street share market finished last week with modest gains, as pro-fit-takers eroded earlier sharp gains leading up to the Presidential elections.
The Dow Jones industrial average closed on Friday at 932.42 —- a gain of 8.13 points on the week, but 20.74 points below Wednesday’s high of 953.16. Analysts said that investors were worried about rising interest rates and inflation. Wall Street generally expects that the prime rate will rise further from the 15-4 per cent level, and investors also expect that the Federal Reserve Board will raise the discount rate soon from the present level of 11 per cent.
Closing prices on Friday of a selection of stocks were:—
ABC, 30 1/2; Alcan, 3S 3/8; Alcoa, 65 3/4; Amax. 45 7/8; Amarada Hess, 41; Am Express, 33 5/3; Am Motors, 4 3/4: Armco.
;34 7/8; Asareo, 45 3/4; AT and IT 48 7/8; AU Rich, 63 1/7; Beth Steel. -6 1/3: Boeing. 36 7.8: .Borden, 76 1.8; Burroughs, 50 3/4; CBS, 48 3/4; Citicorp, 19 3,8; Coca Cola, 30; Cont OU, 33 1.4; Digital Eq. 88 1/8; Disney, 45 1/4; Dome Mines. 104 3/4; Do*. 31 3/3; 'du Pont. 39 5/3; East Kodak, 69; 'Engelhard, 56 L 8; Exxon. 79 1/4; i Firestone, 9 3/8; Ford, 74 3.8; Free Mln. S 3; Gen Dynam, to 7.48; Gen Electric. 54 7,3; Gen Motors, 49 7/8; Gen Tyres, Il 1/2: Goodyear. 17 1/2; Greyhound 14 1/4; Grumman, 73 3/8; Gulf OU. 40 3/4; HaUtmrton. HI; Homestake. 73 3/8; Honeywell. 90 1/8; IBM, 66 1/2; Int Harv, (29: to. 21 V 3: ITTiJohns Manv. 25 1/4; J and J. 82 13/4; Kaiser. 74 3/4; Kennecott, 23 1/4; K Alert. 19 1/8; Lockheed. 33 1/3; McDonalds, 44 U 8; McDen Doug. 38; MGM. 7 7/8; M-M-M. 57 3/4; Mobil. 73 1/2; Monsanto. 53 7/8; NCR. 68 3/4; Newm Mln, 50; Pier, 45; Phel Dodge. 33 1/8; Phil Pet. 33 5/8; Polaroid. 25 3/4; PuUman. 63; Kavtbeon. 99 3/4; RCA. 23 3/4; Reyn Metal, 36; Royal Dutch, 100 1/8; Seagram. 54: Sears Roe. 15 3/4; Shell Oil, 48 12; Shell Trans. 45 1/3; Sperry Rand 51 St Joe, 70 7/8: Socal. 38 3/8; (Texaco. 39; Texas Gulf. 56 M2; . Texas Inst, 182 1/8; Union Carbide. 46 1-4; Union Oil. 43 3/8; US Steel. 23 3/8; Westinghouse, >29 1/8; Wlwths. 24: Xerox. 62 1/2.
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Press, 10 November 1980, Page 24
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394Wall Street last week Press, 10 November 1980, Page 24
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