Dow Jones hovers near record high
Share prices recovered sharply on Wall Street last week and flirted briefly with the record closing high of 1248.30 set on June 16. However, the Dow Jones industrials index stopped two points short on Thursday, at 1246.14 and fell back to 1239.74 on Friday, trim-, ming its gain for the week, to 24.29 points. The rally began on Tuesday, when prices made their: biggest one-day gain in nearly a month and a half as investors reacted favourably to the previous Friday’s unexpected news that the United States money supply dipped to within Federal Reserve Board target levels. The Dow Jones Industrial average, which advanced more than 23 points the previous week, added about 23 points to close around 1238.82.
In the broader market, advancing issues outpaced losers about three to one.
Trading was quiet for most of a week shortened by the Labour Day holiday on Monday, and' some investors observing the Jewish New Year on Friday. Before the market opened on Friday, the Government reported that the producer price index of finished goods rose 0.4 per cent in August, up from a 0.1 per cent i increase the month before.
Alcan, 40%; ABC, 56; Am Motors, 8%; Asarco, 40%; Boeing, 40%; Chrysler, 29%; Colgate, 22; Alcoa, 46%; Am Express, 37%; ATT, 66%; Atl Rich, 48%; Borden, 56%; Citicorp, 36%; CBS, 72%; Amerad Hes, 33%; Amax, 28%; Armco, 20%; Beth Stl, 25%; Burroughs, 53%; Coca Cola, 48%; Conti Grp, 46%; Conti Data, 55%; Digital Eq, 102; Dow Chem, 37; Englhrd, 41; Fluor, 20%; Gen Dynam, 51%; Gen Tire, 30%; Greyhound, 21%; Crane, 35%; Disney, 59%; Du Pont, 54%; Exxon, 39%; Ford, 61%; Gen Elec, 51%; Getty Oil, 67%; Grumman,
29%; Dar Krft, 67; Dorn Mines, 16%; East Kodak, 68%; Firestone, 20%; Frpt McMor, 24%; Gen Motors, 73%; Goodyear, 30%; Gulf Oil, 41%; Haliburton, 44%; IBM, 122%; > Kaiser Alu, 22; McDonald’s, 62%; MMM, 81%; NCR, 124%; Phel Dodge, 28%; RCA, 29%; Homestake, 35%; Inti Harv, 9%; Manville, 12%; K-Mart, 36; McDon Doug, 49; Mobil, 33%; Newm Min, 58%; Phil Pet, 36%; Raytheon, 49%; Honeywell, 122%; Inco, 18%; >Jhsn Jhsn, 42%; Lockheed, ’3B¥a; MGM, 15%; Monsanto, 109%; Pfizer, 36%; Polaroid, 26%; Reyn Metal, 40%; Royl D Pet, 46%; Shell Oil, 47%; St Oil Cal, 37%; Texaco, 38%; US Steel, 30; Xerox, 45; Seagrams, 34%; Shell Tr, 37%; St Oil Ind, 50%; Texas Inst, 118%; Westg Ele, 47; Sears Roe, 38%; Sperry, 45%; S Oil Ohio, 57%; Union Carb, 70%; Wwths, 36%; Schlumberger, 57%; Sedco, 42%; Merryl Lynch, 41%; Occidental, 24%; Heinz, 43%; Clevel’d Cliff, 24%; Inter North, 38%; Am Airlines, 30%.
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