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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Apr 11, 1971
Page
5
Week summary reports mixed moves in stocks and bonds with notable activity across commodities. Investors reacted to earnings, inflation data, and policy expectations as traders adjusted positions. A few indices posted gains while others pulled back, signaling cautious sentiment ahead of the next earnings cycle.
New York AP reports the stock market posted four straight gains in a shortened week, lifting the Dow to 920.39 and marking a weekly high. Analysts tie the advance to Nixon's Vietnam troop withdrawal hints and strong consumer goods data with auto stock strength showing notable gains.
Prices for active cotton futures in New York moved within a narrow range as trading slowed over the shortened week. No. 2 contracts slipped 4 to 11 points for the week, with Oct 1971 to May 1972 deliveries hitting new highs while nontraded No 1 deliveries held steady. Exports for the week reached 137000 bales and season total neared 2.42 million, well below last year’s pace.
In Carson City Nevada a bill designed to halt slot machine cheating was approved by the Legislature and sent to Governor OCallaghan for signature. The measure requires casinos to detain suspected cheaters until police arrive and aims to curb losses estimated at millions annually.
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