Wall St up 75pts
NZPA-AP New York Steck prices faltered, then moved sharply higher on Tuesday (early yesterday NX time) in a rally that accelerated towards the close. The Dow Jones average of 38 industrials rocketed a record 75.23 points to close at 2548.85. The previous record gain was $9.89 points on April X Gainers outpaced losers by nearly 2 to 1 on the New York Stock Exchange, with 1052 issues higher, 551 lower and 401 unchanged.
Volume totalled 209.51 million shares, against
178.87 million in the previous session. The NYSE’s composite index rose 422 to 178.47. Analysts said the market was encouraged by rumours that the consumer price report for August would show that inflation is not as much of a problem as had been thought Higher prices for bonds and a strengthening of the dollar on currency markets also supported stocks, they said. Others suggested that the surge Indicated that the long recent slide on Wall Street may have bottomed out «t least temporarily.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19870924.2.118.18
Bibliographic details
Press, 24 September 1987, Page 28
Word Count
166Wall St up 75pts Press, 24 September 1987, Page 28
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.