WALL STREET Quietly firm at close

Press, 25 August 1986, Page 26

WALL STREET Quietly firm at close

Wall Street stock prices rose in sluggish trading last week, in a hesitant response to unexpectedly strong economic news, and a cut in the discount rate.

The Government reported that new United States factory orders for durable goods rose 4.3 per cent in July, for their largest monthly’ increase in more than a year and a half. A big chunk of the increase resulted from a surge in military orders, which can be quite volatile from month to month. Nevertheless, it was taken as a sign of greater-than-expected strength in the American economy. Prices fell and interest rates rose in the bond market. In the stock market, meanwhile, the reaction

was some sporadic buying.

Analysts said the news came as a plus for the stock market, in the sense that it signalled a continuing decline in interest rates generally. But they also noted that the market had anticipated the move to a considerable extent Alcan, 29%; Alcoa, 36%; Amer Express, 63%; Amer Motors, 2%; Amerad Hes, 19%; Amer Airlines, 55; Armco, 6%; Asarco, 13%; Atl Richfield, 56; ATT, 23%; Beth Stl, 8%; Boeing, 61%; Borden, 46%; Burroughs, 72%; CBS, 141%; Chevron, 42%; Chrysler, 40%; Citicorp, 55%; Clark Eqp, 19%; Clevel’d Cliff, 9; Coca Cola, 38%; Colgate, 40%; Conti Data, 25%; Crane, 30%; Digital Equipment, 99%; Dome Mines, 6%; Ddow, 54%; Du Pont, 81%; East Kodak, 57; Englhrd, 33; Exxon, 65%; Firestone, 24%;

Fluor, 13%; Ford, 62; Frpt Mcmor, 19%; Gen Dynamic, 74%; Gen Electric, 75; Gen Motors, 72%; Gencorp. 76%; Goodyear, 34; Greyhound, 31%; Grumman, 25%; Gulf Res, 12%; H. J. Heinz, 46%; Haliburton, 21; Homestake, 23%; Honeywell, 72%; IBM, 138; INCO, 12%; Inter-North, 43%; ITT, 54%; Johnson and Johnson, 73%; K Mart, 52%; Kaiser Alu, 16%; Lockheed, 48%; MMM, 113%; Manville, 2%; Medon Doug, 85%; Mcdonald’s, 64; Merryl Lynch, 36%; Mobil, 35%; Monsanto, 73%; NCR, 53; Navistar, 7%; Newm Min, 50%; Occidental, 27%; Pfizer, 67%; Phel Dodge, 20%; Philips Pet, 9%: Polaroid, 68»k; Raytheon, 63; Reyn Metal, 43%; Royl D Pet, 88; S Ohio, 46%; Schlumberger, 22%; Seagrams, 59%; Sears Roe, 47%; Shell Tr, 53%; Sperry Cp, 76%; Texaco, 32; Texas Inst, 119; UNCAL, 20%; Union Carb, 21%; Walt Dis 45%; Westg Elect, 57%; Woolworth, 43%; Xerox, 57%.