Market Session Erratic Edges Up Amid Divergent Markets
The New York stock market rose for a second straight session led by U S Steel as Dow Jones industrials gained 3.81 to 892.03. Bond prices fell as rates rose while NYSE volume reached 47.02 million shares. U S Steel climbed to 32 percent on turnover near 950 thousand shares. Mobil slid and Marathon fell as bids shifted.
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Reagan Administration Considers Tax Hikes To Cut Deficit
Administration sources say budget planners seek to reduce the 1984 deficit to about 40 billion or less, possibly via withholding tax on interest and dividend income, oil fees, taxes on employer health benefits, and a windfall profits tax on deregulated gas. They caution proposals are not assured of approval.
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