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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Sep 29, 1962
Page
5
Review of Dow Jones averages with analysts Howe and 692 noted. The brief outlines market movements and performance indicators for the session, highlighting trends in major industrial and transportation stocks and the overall market tone as observed by the reporter.
New York stocks closed Friday in a muted session as a broad market lift capped by light volume. The Dow Jones Industrial Average rose to around 578.95 while key edges in Industrials and Rails helped lift the market, with volume near 2.85 million shares and many issues showing only modest gains.
Market summary from the American Stock Exchange shows Friden Inc rising sharply on merger rumors with Singer Manufacturing, which were denied after the close. McCrory and United Cars also climbed while Wheeling Steel fell on profit-taking. Auto stocks gained with General Motors and Ford higher. Volume was about 900,000 shares.
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