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Cedar Rapids Gazette in Cedar Rapids, Iowa

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Newspaper

Cedar Rapids Gazette

Location

Cedar Rapids, Iowa, United States of America

Date

Oct 12, 1982

Page

23

Great Stampede pushes Dow above 1,000 for first time since 1981

The Dow Jones Industrial Average surged 25.94 to 1,012.79 as investors poured into stocks on a broad rally sparked by the Federal Reserve's rate-cut signals. NYSE volume neared 139 million shares with 1,498 advancing and 290 declining among 2,019 issues traded.

New York UPI Wall Street Federal Reserve Dallas Reagan America New York Stock Exchange NYSE Thomas Neer Shearson-American Express Pittsburgh DJIA Dow Ralph Acampora Kidder, Peabody Acampora Kevin Keeney Southwest Securities Standard & Poor National Association of Securities Dealers American Telephone & Telegraph Exxon Aluminum Co. of America American Brands American Express Eastman Kodak General Electric General Foods General Motors IBM International Paper Merck Minnesota Mining & Manufacturing Union Carbide United Technologies Westinghouse Electric Procter & Gamble Sony Corp Burroughs Control Data Digital Equipment Honeywell Motorola Texas Instruments Johnson & Johnson J&j ASA Ltd Campbell Red Lake Dome Mines Homestake Dome Petroleum Champion Home Builders Wang Laboratories

Wall Street sees Dow finally breach 1,000 again

The Dow Jones Industrial Average climbs 25.94 to 1,012.79 marking another peak above the 1,000 barrier. Analysts note the milestone’s psychological impact and its link to investor confidence during a strong bull market.

Holiday delays T-bill auction to today

Due to the Columbus Day holiday the weekly short term Treasury securities auction was postponed from Monday to today. Results impact interest on accounts linked to federal securities and will be reported in Wednesday's Gazette.

Treasury

Alabama bank cuts prime rate amid Fed shift

A Southern bank lowered its prime rate to 12 percent after the Federal Reserve signaled a policy shift. Major lenders across the country planned further rate cuts this week as the Fed cut its discount rate, with economists predicting lower short term rates and a temporary change in policy.

New York Alabama Federal Reserve First National Bank of Birmingham Ala Mellon Bank of Pittsburgh American Savings & Loan Association Beverly Hills Calif S&l First National of Birmingham Fed David M. Jones Aubrey G. Lanston & Co

Gold and silver jump as signals point to lower rates

Gold rose significantly on signals that U.S. interest rates will fall, with prices climbing in New York and London to around 438.50 to 445.75 per ounce and silver up to about 9.56 per ounce. The dollar softened amid light trading as international markets paused for holidays in New York and Tokyo.

United Press International New York London Zurich New York Commodity Exchange

Also Mentioned on This Page

Frank W. Slusser IPL Rillernace Roger Bannister Wall Charles Henry Dow Dow Jones & Co Wall Street Journal Dow Industrials Lucien O. Hooper Congress Mercedes-Benz Ans Housby Imports Ltd First Ave. NE Manchester Iowa Jones Paul Volcker U.S Tokyo ITI VisiCalc Ision OF Tandy Corporation Cedar Rapids First Ave. S.E
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