WALL STREET Dow Jones index nears 1700

Press, 24 February 1986, Page 20

WALL STREET Dow Jones index nears 1700

Wall Street stocks closed the week at another record high on Friday, boosted by a continuing drop in world oil prices.

The Dow Jones industrial average jumped 24 points on Friday to a record 1696, including a three-point spurt after the closing bell. The closelywatched index of 30 leading industrial shares easily smashed through its old closing record of 1679, set on Tuesday. Waves of organised buying by professional investors flooded the trading floor and created one of the busiest trading days on record..

The Dow Jones index has climbed almost 200 points since January 23. Analysts said the upswing was encouraged by a drop in bond-market interest rates after a spell of uncertainty about the interest-rate outlook.

Rates rose moderately in the credit markets as Paul Volcker, chairman of the Federal Reserve, said that the Fed — the American central bank — had not made any significant change in its policy lately.

Closing prices (in U.S. dollars) on Friday of a selection of issues were:

Alcan, 32; Alcoa, 43%; Amer Airlines, 51%; Am Express, 63%; Am Motors, 2%; Amerad Hes, 22%; Armco 10%; Asarco, 20%; Atl Rich 52%; ATT, 22; Beth Stl, 19%; Boeing, 49%; Borden, 56%; Burroughs, 70; CBS, 126%; Chevron, 35%; Chrysler, 56%; Citicorp, 51%; Clevel’d Cliff, 18; Coca Cola, 90%; Colgate, 34; Control Data, 23%; Crane, 42%; Dar and Krft, 44%; Digital Eq, 162%; Dome Mines, 9%; Dow Chem, 48%; Du Pont, 70%; East Kodak, 51%; Englhrd, 24%; Exxon, 51%; Firestone, 24%; Fluor,

16%; Ford M, 71%; Frpt McMor, 16; Gen Dynam, 74%; Gen Elec, 76%; Gen Motors, 79; Gen Tire, 75%; Goodyear, 34%; Greyhound, 34%; Grumman, 23%; Gulf Res, 11%; Haliburton, 23; Heinz, 33; Homestake, 24%; Honeywell, 80; IBM, 159%; INCO, 13%; Inti Harv, 8%; Inter-North, 41%; ITT, 41%; Johnson and Johnson, 48%; K. Mart, 37%; Kaiser Alu, 17; Lockheed, 51%; M M M, 98%; Manville, 6%; McDon Doug, 79%; McDonald’s, 84%; Merryl Lynch, 40; MGM, 25; Mobil, 27%; Monsanto, 57%; NCR, 46%; Newm Min, 48%; Occidental, 25%; Pfizer, 52; Phel Dodge, 25%; Philips Pet, 10; Polaroid, 60%; Raytheon, . 55%; RCA, 61%; Reyn Metal, 44%; Royl D Pet, 64%; Schlumberger, 30%; S Oil Ohio, 46%; Seagrams, 51%; Sears Roebuck, 42%; Shell Tr, 39; Sperry Cp, 53%; Texaco, 29%; Texas Inst, 124%; Union Oil, 22%; Union Carb, 863%; US Steel, 22%; Westg Elect, 48%; Wwths, 66 1%; Zerox, 68%.