Stock Market Gains On Heavy Trading Amid Tax Fear
The New York stock market rose with the Dan Jones industrial average up to 648.11 as volume reached 10.25 million shares. Major indexes advanced with tech and utilities rising. outlook favored easier credit and lower interest rates, despite mixed economic signals and worries over corporate tax burdens.
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Market Snapshot from a Turbulent Trading Day
New York shares mixed as traders parsed a volatile session on the floor of the stock exchange. Industrials and rails showed divergent moves while technology and consumer stocks fluctuated, with inflation concerns and wage price controls lingering in investor sentiment.
Heavy Snow Cuts Auto Output in Week
Detroit AP reports heavy snow and cold weather forced further cuts in U S auto production. Automotive News revised its prior forecast of 170 192 cars for U S plants last week, with plant by plant checks due midweek. Estimates suggest blizzard conditions cost about 35 000 cars as Friday and Saturday work were wiped out.
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