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Newspaper
Daily Review
Location
Hayward, California, United States of America
Date
May 29, 1962
Page
4
AP reports mixed signals on stocks as investors weigh a possible recession against steady growth. The debate centers on whether high prior prices were unrealistic and if a price drop will dampen consumer spending or trigger slower wage gains.
Pacific Coast market listings show varied trading across utilities and tech firms. Major names include PGE, Pacific Telephone, General Electric, Allied Chemical, and Westinghouse, with scattered figures and percentage shifts across sectors.
Washington AP H Ladd Plumley president of the U S Chamber of Commerce urged White House leadership to rebuild business confidence. He blamed the stock market plunge on two factors profit outlook dimming and President Kennedy’s steel price reduction. He warned against administered prices and warned of further market volatility unless free markets prevail.
The New York Stock Exchange plunged further with heavier volume and larger losses than yesterday, AP indices down about 3.10, 208.10. industrials, rails, and utilities all declined. Some blue chips showed brief recoveries as selling pressure persisted, with volumes signaling a potential market bottom question.
Wall Street chatter centers on Dow trends and mixed signals as Kempers notes analysts differ on the timing of major market moves. The piece flags cautious mood ahead of potential shifts and cites historical cycles, with some experts predicting higher volatility in coming weeks.
James Dines of A M Bidder and Co notes changes in bond averages and market behavior. The piece discusses rate fluctuations, price trends, and cautious guidance for investors, highlighting historical patterns from 1902 and current signals for bonds and inflation expectations.
San Francisco reports UPH Deiry prices to retailers with varied sizes and grades for eggs and butter including large AA large A medium AA and small AA. New York Cotton Exchange opens lower for wool and dairy futures with mixed opening prices across July October December and March contracts and notes on blended butter cheddar and milk products.
A wave of selling on the New York Stock Exchange has delayed transmission of over the counter stock listings. As a result, the listings will not appear today.
The reader asks if the Axe Houghton Fund performs over the long term and why their four year plan shows high payments yet equal value to total invested. In response, Axe-Houghton Fund B is praised for strong performance among balanced funds investing in stocks and fixed income. Front end load commissions reduce early break-even, but the plan’s four year result reflects good overall gains for holders. a radio report was criticized as inaccurate. Walter Benedick testified that front-end commissions can reach 40 percent for early participants who stay briefly, due to the contractual plan structure.
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