Quotation Roundup Reflects Sluggish Market and Mixed Dow
The market faced higher rates and investor shift from stocks to Treasuries. The Dow reached intraday lows then recovered slightly, while S P 400 fell 29 to 107.61 and the composite slipped 77 to 92.99. Blue chips Du Pont, U S Steel, and General Motors declined, GM amid dividend hesitation. Basic Inc led gains, up 34 to 16, after reporting higher earnings. Cavitron dropped 44 to 15% on weak profits. Amex volume was light as the index slid to 120.17.
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Cavitron
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Kean
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Steady Decline As Rates Rise Clouds Market Outlook
New York AP report shows the Dow Jones Industrial Average sliding to a new intraday low amid rising short term interest rate fears. The 30-stock index fell 9.27 to 79.42 in a day of light volume as analysts warned higher borrowing costs could slow business expansion.
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