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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 27, 1998
Page
5
The S&P 500 hit a fresh record amid cautious trading after a strong week. The Dow rose 8.96 to 8,944.54, finishing the week 231.67 higher, while the Nasdaq climbed 6.28 to 1,869.53 as yearly gains approach double digits. Advancers led decliners 6 to 5 on the NYSE with 1,615 up, 1,355 down, and 561 unchanged.
About 350 workers face layoffs as Durham 2000, formerly Durham Hosiery Mills, shuts its Danville plant on Sept. 7. It is the second local textile plant to close in six months, costing the city 670 jobs. Derby Hosiery bought the plant in January and reports losses exceeding $1 million since. Local officials expect a difficult transition for displaced workers.
May data show personal income rising 0.5 percent to a seasonally adjusted annual rate of 7.22 trillion with gains in wages and salaries, business income, and transfers. Manufacturing pay lagged as Asia turmoil and cheaper imports pressure export demand, while home loan delinquencies edged higher to 4.47 percent in Q1.
A fragment notes a location at 835 East Main Street across from Acme Shop. The readable text provides no event or date details, leaving only the street address and nearby landmark.
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