Roundup of Week's Market Activities and Trends
A compact market roundup covers stocks bonds and commodities with cautious commentary. Investors face easier money conditions yet tougher customer demand as traders parse weekly data and policy cues.
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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Apr 18, 1971
Page
11
A compact market roundup covers stocks bonds and commodities with cautious commentary. Investors face easier money conditions yet tougher customer demand as traders parse weekly data and policy cues.
The Dow Jones Industrial Average reached its loftiest close since May 26, 1959 as gains for the week pushed indices higher. Volume on the New York Stock Exchange surged with notable activity in Pan American and Eastern Air Lines while Fannie Mae moved on high volume amid margin changes.
Active cotton futures in New York faced selling pressure after early strength. No 2 contracts slipped while October 1971 to July 1972 deliveries hit new highs briefly. No 1 deliveries stayed unchanged for a fifth week as trading volume surged and open interest peaked since 1968. Brisk demand earlier came from unfavorable Texas planting conditions, but rains and weekend precipitation triggered profit taking.
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