Dow Jones Averages Edge Up in Early Trading
The Dow Jones averages show modest gains with the Financial 5 up 0.3 points to 120.1 in early trading. Investors monitor market direction as shares move on light volume and mixed economic signals.
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Newspaper
Long Beach Press Telegram
Location
Long Beach, California, United States of America
Date
Feb 03, 1953
Page
17
The Dow Jones averages show modest gains with the Financial 5 up 0.3 points to 120.1 in early trading. Investors monitor market direction as shares move on light volume and mixed economic signals.
New York financial desk reports railroads dragged the stock market lower with 1 to 2 point declines common, minor gains scattered, and overall volume around 1.6 million shares. Copper rose on potential end to price controls while rails steels and motors weakened under selling pressure.
Cattle and hog markets showed mixed results with higher weights and steady to slightly lower bids. Producers faced thinner demand as receipts rose Tuesday, while buyers held back, keeping prices for steers, heifers, and hogs near recent levels across several regions.
The NYSE wrapped up a trading day with closing prices across major sectors. Key indexes printed mixed results as investors weighed earnings and macro data while trading volumes remained steady for a final tally.
Wholesale price index rose to 109.4 for the week ending February 27, led by lower meat and farm product costs. Farm prices slipped about half a percent as exes and livestock eased while live poultry and cotton rose. Wheat and corn showed renewed volatility with renewed selling and fears of deflationary trends.
An OCR messy ledger lists securities, funds, and commodity prices with numerous firm names, percentages, and numeric figures. It references securities associations, insurance firms, banks, gas and electric companies, and various market indicators, with scattered entries for dates, values, and percentages.
Washington Congress applauds Eisenhower plan to repudiate secret East agreements with the Kremlin and free Formosa Nationalists for raids on Red China. Senator Taft says Congress can act quickly to pass a resolution backing the President. Rep Kersten urges nullifying Yalta. Democrats split on impact.
A garbled market note reports fluctuating prices and odd items such as fencing lent and estate buys. It mentions new seasonal lows and mixed, uneven pricing, with some figures around 10 cents and others at 34 cents amid unclear context.
A brief market notice notes hay prices in the Federal-Stage market under a naming convention with color green and grade a5. The report lists price points around 8.005 inches measurement, signaling a modest shift in pricing dynamics and potential impact on producers and buyers.
Long Beach City Lines bus operators began a refresher safe driving course as part of the transit system's ongoing safety program. Willard Les, manager, said the session emphasizes safe driving and is led by safety engineer Mr. G. Bullock of St. Louis. Three more sessions were scheduled with over 200 drivers taking part.
The Federal State Market News Service reports prices for grapefruit and citrus in Los Angeles and San Joaquin Valley markets. Prices show mixed moves with some fruit firming and others steady, wrapped and unpacked grapefruit prices varying, and overall market activity described as trending lower across sizes and lots.
Foreign exchange markets in New York show many currencies holding steady with minor moves. The British pound, Swiss franc, and French franc display small gains or unchanged levels, while the Argentine and Bolivar values depart slightly in late trading.
The Senate Foreign Relations Committee questioned James Bryant Conant for two hours behind closed doors and planned a vote later today on his nomination as High Commissioner to Germany. Indications pointed to approval, with several senators predicting a favorable outcome and proxies in favor including from Sen George of Georgia.
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