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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 13, 1992
Page
6
The Dow rose 2.85 points to 3354.36 as traders welcomed a 0.1 percent May CPI increase. Advancers outpaced decliners 3 to 2 on the NYSE, with volume at about 181.85 million shares. Bond prices climbed and yields fell near 7.85 percent as inflation concerns eased.
President Bush rejected outcast status at the Earth Summit in Rio de Janeiro defending a record he called second to none. He urged a prompt start to curb global warming with concrete steps and proposed another environmental conference by January 1. The US signed a revised climate pact while EC pledged 4 billion dollars and Germany doubled aid to developing nations as Bush praised recycling and faced harsh criticism from environmentalists.
Panamas government officials including Vice President Guillermo Ford demanded an investigation into why large amounts of tear gas were fired to disperse anti American demonstrators who disrupted a Bush speech in Panama City. The incident left Bush and his wife shaken though unharmed as smoke drifted over the plaza and assembly work paused briefly.
In the wake of a failed balanced budget amendment, House Democrats pledge to cut the budget deficit for the coming fiscal year. The appropriations panel will begin moving restricted agency budgets toward floor consideration, with a specific $1 billion foreign aid cut proposed.
U S consumer prices edged up 0.1 percent in May as falling food costs and a drop in prescription drug prices offset higher gasoline costs. The report calmed fears after a weak wholesale price rise and signaled moderation in health care inflation amid a weak economy.
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