Gains continue on Wall Street
J The Wall Street sharei market continued to advance ; last week in spite of light ’ trading. The total number of I shares traded on Boxing Day i ; was the smallest since No- , • vember 24, 1978, but the. Dow Jones average of 30 ! industrials closed 29.18 ■ points higher than on Mon-1 day. i . ! The index gains were put down to the peaking ofi prime interest' rates, but; there was bad news on the i r inflation front with a 1 per 1 cent rise in the U.S. con-; r sumer price index in No-. ; vember to maintain the 12 • I perTcent plus annual rate of ; • the last two months. < Tuesday marked the dead- j line Tor taking profits on , stocks for 1980 tax pur-1 ; poses. Profits taken from i , Wednesday on are consid-. ; bred 1981 gains, although i ; losses for 1980 many be. i taken up through New i Year’s Eve. j Brokers said that the mar- < ‘ ket could encounter some i pressure from sales by tra- ! ders who had been waiting i ' for the 1980 deadline to ; , pass. j One incentive to do so has i
been the expectation that President-elect Reagan will push for bigger tax breaks on capital gains. Closing prices of a selection of shares were: ABC, 26; Alcan, 32 7/8: Alcoa, 59 3/4; Amax, 40; Amarada Hess, 43 3/4; Am Express, 39 7/8; Am Motors, 4 1/8; Armco, 36 1/4; Asarco, 42 1/8; A.T. and T., 49; Atl Rich. 65 3/8; Beth Steel, 27; Boeing, 40 3/4; Borden, 25 3/8; Burroughs. 54 1/4; CBS, 47 1/8; Citicorp. 24 1/4; Coca Cola, 3o 1/2; Cont Oil, 32 5/8; Digital, 93 3/4; Disney, 51; Dome Mines, 90 1/2; Dow, 32 1/8; Du Pont, 41 1/4; Kodak, 69 7/8; Engel; hard, 56 3/4; Exxon, 80 3/8; Firestone, 10 3/4; Ford, 20 1/8; Free Min, 60 1/8; Gen Dynam, 37 1/4; Gen Electric, 60 1/4; Gen Motors, 47 1/8; Gen Tyres, 18 5/8; Goodyear, 15 7/8; Greyhound. 14 3/8: Grumman, 25 1/8; Gulf Oil. 44 3/4; Haliburton, 167 1/4; Homestake, 72 3/8; Honeywell. 114 3/4; IBM. 68 1/2; Int Harv, 25 1/4; Inco, 20 1/4; ITT. 30 1/4; Johnson, 97 7/8; Johns Manv, 26; Kaiser, 22 3/4: Kennecott, 27 1/8: K Mart, 18 3/8; Lockheed, 31 1/2; McDonalds. 46 5/8; McDon Doug, 46 7/8; MGM, 9 1/8; MMM. 57 5/8; Mobil, 83 1/8; Monsanto, 69; NCR, 73 1/4; Newm Min. 43 1/2; Pfizer, 51; Phel Dodge, 37 1/8; Phil Pet, 60 3/8; Polaroid, 25 7/8; Raytheon, 107 3/4; RCA, 28 3/8; Reyn Met. 35 1/2; Royal Dutch, 102; Seagram. 60: Sears Roe. 15 3/4; Shell Oil. 57 1/2; Sperry Rand, 62 3/8: St Joe. 30 1/8: St OU Ca, 100; Texaco, 49 1/4; Texas Gulf, 61 1/4: Texas Inst, 121; Union Carb. 50 5/8; Union Oil Ca, 47; US Steel, 25 3/8; Westinghouse, 29; Woolworths, 24 3/4; Xerox, 60 3/4.
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Press, 29 December 1980, Page 21
Word Count
485Gains continue on Wall Street Press, 29 December 1980, Page 21
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