Interest Rates Drive Market Pattern Says AP Analyst
AP Business Analyst John Cunniff argues that stock prices rise and fall with interest rates. He notes the Dow hovered near 1,000 points only briefly in past decades, while 1974 saw a drop to 577.60 as prime rates peaked. Bonds have outperformed stocks in the 1970s, influencing investor behavior and Fed policy scrutiny.
MENTIONED IN THIS ARTICLE
John Cunniff
New York
Federal Reserve Board
New York City Default Looms Over Bond Markets
Federal Reserve may act as last resort to avert NYC default. Moody’s and bond dealers warn a New York City default would reverberate nationwide across municipal and corporate bond markets. Analysts foresee debt restructuring rather than outright repudiation, with long term damage to Fun City’s borrowing ability and widespread market impact.
MENTIONED IN THIS ARTICLE
Alliance
New York
Ford
Treasury
William Simon
New York City
Fed
Arthur Burns
Moody’s Investors Service
John Nuveen & Co
Big Mac Municipal Assistance Corp
Naveen & Co
Federal Reserve Bank
New York State
Burns
Bank of Last Resort
Fun City
U.S. Treasury
Slow Stock Week Amid NYC Uncertainty and Federal Aid Debate
The AP average of 60 stocks closed at 263.7 Friday, up 2.3 from a week ago, while the Dow Jones average of 30 industrials rose to 832.18, up 8.27 from last Friday. Investor uncertainty over the New York City situation kept trading slow, despite an upbeat start led by Vice President Rockefeller’s weekend support for federal aid to New York.
MENTIONED IN THIS ARTICLE
New York City
Rockefeller
New York
Local Executives and Staff News From High Point Area
Wachovia Bank names Dorothy Lehman a banking officer in High Point with prior service as branch manager. Nick Difoggio named production manager at WGHP-TV, a High Point native now based in Greensboro. High Point officials set a speaking program for Administrative Management Society at Holiday Inn Downtown. New York Life hires Vann R. Taylor II as field underwriter in High Point. he previously managed Wachovia Bank branches. Three area realtors receive NC Association of Realtors roles at Myrtle Beach convention. Food Town Stores declares a 4 cent per share cash dividend payable Nov 18 to holders of record Nov 3.
MENTIONED IN THIS ARTICLE
Lehman
Wachovia
High Point
Thomasville
AIB
First Presbyterian Church
Ethel W. Cox
Clyde W. Cox
Harmon F. Lehman
Marywood Dr
Wghp-Tv
Nick L. Difoggio
Difoggio
Greensboro
Donald Roseman
The
Administrative Management Society
Holiday Inn
Roseman
Wade H. Clayton Jr
Winston-Salem
Vann R. Taylor, II
New York Life Insurance Co
St. Andrews College
Laurinburg
Taylor
Wachovia Bank
New York Life
Northpoint Ave
Food Town Stores, Inc
Also Mentioned on This Page
High Point Enterprise
Associated Press
National Association of Securities Dealers
Aerotron Incie 2A
American Furniture
Bankers Trust of S.C Basset Furniture
Inds
Branch Corp Ibu
Brenner Inds
Burnup & Sims
Coca-Cola Co
Colonial Life
DOW Jones
Conner Homes
Daniel Internat
Diamondhead Corp
Durham Life Ins
Engraph Inc
Es Fidelit Corp
Farmers New World
Multimedia
Ncnb Corp
Ae N.C. Natural Gas
Northwest Fin, Corp
NoWestn
Occidental Life Ins
Phillips Fescue
Piedmont Aviation
Piedmont Reit
Svc
N.C
Quality Mills
RMIC
Textiles Inc
Thalhimer Bros
Ae Transco
Triangle Brick
Unifi_ inc
UN. Caro. Banetski
Va. International
Va. Natl, Bank
B.B. Walker Shoes
Washington Group
West Knitting Corp
White Shield Co
Wix Corp
Wright Machinery
Coh
Atrast Mal So
Celeme Ley
Larry Forrester Or
William Bell
Ilderton-Dodge
Dorothy C. Lehman
Wachovia Bank and Trust Co., N.A
Ray Hubbard
Realtors
North Carolina Assn. of Realtors
Myrtle Beach
S.C
Harold Craven
Point
Joe Hedrick
Lexington
Jay Ricks
State Board of Directors
Dorothy Lehman
Robert
CL. A
S. Hamilton St
Tel
Reer Rr
Iintegon’ Insurance
Cata
G.M. Bates
Scott Garten
Buick
Eel
S.S
West Indies
Caracas
Venezuela
Yucatan Peninsula
Netherlands Antilles
Miami
City State
Zip
Statendam Coupon
World Travel Agency
Carolina Motor Club
North Main St
N. C
Tim Khir Cunt
Ntmi Loe Eyota
George P. Clark, C.L.A
Pul As
Ote
Income & Capital Associates, Inc
Physicians Planning Service Corporation
Asd Oat Oke
Tea Taal
Ecg
Mel Equity Seevices Corporation
Cy Ar
Oearian