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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 13, 1986
Page
56
The New York market closed with mixed results as major equities showed modest gains and losses. Several big names such as IBM and Xerox moved with swings amid thin volume while investors weighed earnings and inflation signals.
New York stocks finished mixed in a light trading day described by traders as the quietest in over three weeks. The Dow fell 7.94 points to 1,838.13 on profit taking, while breadth and other measures showed strength despite lower volume of 109.06 million shares on the NYSE and a brief computer trading gap affecting volume totals.
Washington AP reports FDIC Chair William Seidman says a record up to 160 banks will either fail or need government help by year end 1986, up from 120 last year. He cites more institutions added to the problem bank list and 55 failures by June 9.
Narrows Va shows a Saturday sale at Narrows Livestock Auction Market Inc with 300 lambs and 75 slaughter cattle sold. Feeder lambs brought 70 dollars, choice and prime lambs 81.10, baby calves 40 to 80, stock feeder cattle 1509 sold with steer calves 54 to 67 and heifer calves 45 to 57, cows with calves 315 to 520, and cows and bulls 27 to 47.25.
May retail sales slipped 0.1 percent to 117.05 billion as gains in new cars and furniture failed to offset weakness elsewhere. February and March posted declines, while April rose 0.4 percent. Business investment is down 1.3 percent for the year with oil drilling cutbacks driving much of the drop. Experts see a possible second-half rebound, though some doubt the 1986 growth forecast.
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