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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Apr 02, 1958
Page
18
The board chairman of U.S. Steel predicts a sturdier navy in early 1959 with orders for heavy tools turning the corner. Automotive manufacturers should increase material orders by late summer. The canning industry is expected to have a better year. No material shortages exist and financial credit is more available than three to six months ago.
Traders digested varied gains in utilities and industrials while energy and finance sectors moved unevenly. The Dow and broader indices showed a cautious tone as bond yields fluctuated, with notable activity in oil markets and price updates from major stock groups.
A period summary notes cotton futures movement with varied gains and losses across contracts while the Standard and Poor's 500 index shows mixed intraday results. The report highlights price shifts in several sectors and indicates broader market activity in New York trading.
The market shows scattered buying and firm tone for contracts as traders note absence of strong influences. Prices mostly steadier to modestly higher for nearby grains, with May and June futures trading cautiously but above recent levels.
A clipped line from the page notes a reference to Booch Colif and Wad with a date of April 2, 1954. The readable fragments indicate a small item or notice, likely a local entry or brief, without a clear event or action described. Entities: Booch, Colif, Wad, Independence, April 2, 1954.
The New York market opened the second quarter with a slow decline as losses in heavy industrials and rails offset gains in utilities. The Associated Press index fell 40 cents to 161.50, with breadth negative and volume near 2.07 million shares. Stronger stocks and dividend cuts drew attention as traders watched steel and automobile output drop.
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