Wall Street firm last week
Revived hopes that U.S. interest rates may fall in the near future pushed share prices higher on Wail Street last week.
The spark for the advance was provided when the Federal Reserve reported a $5.9 billion drop in the U.S. money supply. The news was seen as markedly improving the chances for some relaxation in the restrictive credit policy the FED has been pursuing in an effort to restrain inflation. In turn, that prompted widespread — though by no means unanimous — expectations on Wall Street that interest rates might soon head downwards.
Closing prices on Friday of a selection of issues were:-
ABC. 29-5/8; Alcan, 24-7/8; Alcoa. 28-1/4; Amax, 59-7/8; Amerda Hess, 32; Am Express, 45-5/8; Amer Motor, 3-5/8; Armco. 33-3/4; Asarco, 39-1/8; ATT. 56-3/8; Atlantic Rich 50-1/4; Bethlehem. 23-7/8; Boeing, 27-5/8; Borden. 28-3/8: Burroughs, 37-3/8; CBS, 55-3/4; Chrysler, 6-1/8; Citicorp. 26-1/2:Coca Cola. 34; Col-
gate. 15-I'4; Contoil, 35-172: Crane. 40-5/8; Dart and Kratt. 493/4; Digital Eq, 97-3/8; Disney. 54; Dome Mines, 21-1/2; Dow, 311 /4; Du Pont. 45-3/8; East Kodak, 74-3/4; Engelhard. 19; Exxon. 343/4; Firestone, 11-3/4; Fluor Corp. - 36-3 8; Ford, 21-5 8: Freeport. 32-1/4; Getty Oil. 72-7/ 8; Gen Dynamics. 28-3/4; Gen Elee. 61; Gen Motors. 51-3/8; Gen Tires. 26-1/2: Goodyear, 19-1,2; Greyhound, 17; Grumman. 24-3/4: Gulf Oil, 38-7/8; Haliburton. 66-1/ 2; Homestake. 47-3/4; Honeywell. 87-3/4; IBM. 56-1/8: Int. Harvester. 14-3/4; Inco, 18-3/4; ITT, 29; Johns Manville, 20; Johnson, 333/4; K-Mart. 21; Kaiser Alum, 207/8; Lockheed. 38; McDonalds, 611/8; McDon Doug, 36-1/8; MGM, 9-5/8; MMM, 54-1/4; Mobil, 30-5/ 8; Monsanto, 73-7/8; NCR, 57-1/4; Newmont Mng, 67; Pfizer, 47; Phelps Dodge. 43-1/8; Phil Pet. 43-1/2; Polaroid. 27-5/8; Raytheon. 45-7/8; RCA. 21; Reynolds Met, 31-3/4; Royal Dutch. 33-1/4; St Joe. 43-1/8;’ Seagram. 52-5/8; Sears Roe, 18-1/8; Shell Oil. 45-3/4; Shell Trans, 28-7/8; Sperry Rand, 40-5/8; Socal, 42-1/ 2; Soind, 60-3/8; Sohio, 51; Texaco. 35-7/8; Texas Gulf. 53-1/8; Texas Inst, 95-5/8: Union Oil, 411/4; Union Carbide, 56-1/4; US Steel. 31-1/4; Westinghouse. 28-1/ 2; Wwths. 22-1/4: Xerox. 48-7/8.
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Press, 3 August 1981, Page 20
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331Wall Street firm last week Press, 3 August 1981, Page 20
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