Good recovery on Wall St

Press, 16 April 1984, Page 30

Good recovery on Wall St

The Wall Street stockmarket last week recovered some of the previous week’s losses, and the Dow Jones index of industrial issues made a gain of 17.91 points for the week, after the previous week’s 32.67 point decline. Most of the advance was made on Thursday, when the Dow Jones industrial average posted its biggest gain in seven weeks, amid signs that pressure may be subsiding on U.S. interest rates. Trading was moderately active. Good earnings reports were also credited for helping blue-chip issues revive to lead the gainers that were prominent in

almost every industry category. On Thursday, before the market opened, the Commerce Department reported that U.S. retail sales fell 2.2 per cent in March from the previous month, the sharpest drop in more than a decade. The report prompted a rally in the bond market where long term treasury securities rose by about SUSS for every $lOOO in value, but the stock market was slower to respond. “The retail figures are encouraging because it suggests that overheating in the economy is about over, and that should reduce pressure on rates,” said one market analyst. President Reagan told a

group of housing industry leaders in Dallas that interest rates would settle down “before the warm weather has left us.” Alcan, 30%; Alcoa, 35%; Amerad Hes, 31%; ABC, 59%; Am Motors, 4%; ATT, 15%; AMF, 13%; Armco, 18%; Asarco, 31; Atl Rich, 46%; Beth Stl, 26%; Boeing, 38%; Borden, 53%; Burroughs, 50%; Chrysler, 24%; Citicorp, 33%; Coca Cola, 54%; Colgate, 70%; Conti Grp, 33%; Dar plus Krft, 73; Digital Eq, 90%; Disney, 64; Dow Chem, 31%; Du Pont, 47%; East Kodak, 61%; Exxon, 40%; Firestone, 17%; Fluor Cp, 22; Ford Motor, 34%; Frpt McMor, 24%; Gen Dynam, 47%;. Gen Motors, 64%; Greyhound, 23%; Grumman, 24%; Gulf Oil, 78%; Holiburton, 42%; Homestake, 30%; Corp, 111%; ICN Pharm, 6%; Inco, 14; ITT, 38%; Manville, 11%; Jhsn&Jhsn, 37%; Kaiser Alu, 17; Martin-Mar,' 32%; McDonald’s 66%; MGM Film, 15%; M-M-M, 71%; Monsanto, 89%; JP Morgan, 67%; NCR, 98%; Pfizer, 34%; Phel Dodge, 25%; Philip Mor, 66%; Polaroid, 27%; RCA, 32%; Reyn Metal, 32%; Royl D Pet, 52%; Seagrams, 32%; Shell Oil, 57%; Shell Tr, 37; Sperry Cp, 37; St Oil Ind, 55%; S Oil Ohio, 49%; Sterl Drug, 25%; Texas Inst, 133%; Union Carb, 56%; Uncal, 37%; Westg Ele, 44%; Woolworth, 31; Xerox, 40%; Schlumberger, 54; Sedco, 37%; Occidental, 30%; Heinz, 34; Clevel’d Cliff, 1021%; Internorth, 40%; Am Airlines, 33%.