Markets surge as Fed eases credit fueling stock rally
Wall Street roared with the Dow up 79.11 points to 986.85, a 16 month high, as the Fed moves to ease credit. NYSE composite rose to 75. NYSE volume hit 488 million, NASDAQ up 10.19 to 198.89. Johnson & Johnson and IBM led blue chips while Tylenol cyanide fears lingered. General Telephone and Telegraph agreed to buy Southern Pacific satellite unit.
MENTIONED IN THIS ARTICLE
New York
UPI
Wall Street
Federal Reserve
Dow
New York Stock Exchange
Standard & Poor’s
NYSE
U.S
Johnson & Johnson
Chicago
J&j
American Telephone & Telegraph
IBM
Eastman Kodak
General Telephone & Telegraph
Southern Pacific
F.W. Woolworth
Woolco
Procter & Gamble
Minnesota Mining & Manufacturing
American Stock Exchange
Grain and metal futures rise on Chicago and New York exchanges
Grain and soybean futures on the Chicago Board of Trade edged higher with corn at 2.214% a bushel and soybeans at 5.29 a bushel. Cattle prices climbed on the Chicago Mercantile Exchange while live hogs and pork bellies faded. Gold silver and copper prices also increased on the New York Commodity Exchange.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Board of Trade
Chicago Mercantile Exchange
Commodity Exchange
New York
Bond market rallies as Fed eases stance signals weaker economy
The bond market rose last week as the Fed signaled a more lenient policy and economic weakness grew. Salomon Brothers chief economist says markets expect credit conditions to ease after the Federal Open Market Committee meeting. Prices and yields shifted across government, corporate, and municipal bonds with notable activity in new issues and a larger upcoming calendar.
MENTIONED IN THIS ARTICLE
New York
UPI
Federal Reserve
Fed
Federal Open Market Committee
Henry Kaufman
Salomon Brothers
Federal Funds
Mellon Bank
Kwik-Way Reaps Reward From Unusual Labor Pact
At Kwik-Way Manufacturing in Marion union and management embraced a pay tied to prime interest rates. By 1981's slump the 50 cent raise, with further increments if rates stay below thresholds, boosted wages as the prime rate fell. With 230 Marion staff and 400 total including Canada, the new Kwik-Lathe product spurred hiring and stabilized employment.
MENTIONED IN THIS ARTICLE
Kwik-Way
Sauerbry
Tom Parks
Parks
Kwik- Way
Jack Sauerbry
Ave
Federal Reserve Board
Marion
Canada
P Gazette
John Mclivor
Kwik-Way Manufacturing Co
Also Mentioned on This Page
Anthony Tabell
Delafield, Harvey & Tabell
Princeton
N.I
Dome Petroleum
Wang Laboratories
Champion Home Builders
National Association of Securities Dealers
Salomon
Dale Kueter
Lazette
JIM Ward, Inc
Impact Sales
Inc
Bob
Manchester
Nathan A. Stahmer
FIC
R.A. Danowsky Agency of Aid Association
Stahmer
AAL
R.A. Danowksy Agency
Arco Building
Cedar Rapids
Aid Association For Lutherans
Appleton, Wisconsin
Fraternal Insurance
Scripsit
Tandy Corporation
Radio Shack
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