Markets Fall Broadly on Opening Trading Session
New York stocks opened 1971 on a weak note as the market slid across major indexes. The Dow fell to 830.57, the Dow Jones industrials dropping 8.35, while the S&P 500 declined to 91.15 as volume faded and institutional buying slowed ahead of Nixon’s TV address.
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Cotton futures ease as market awaits 1971 farm bill provisions
New York Arens No 2 cot ton futures closed down 60 cents per bale amid slow trading and trade covering. Spot cotton strengthened with middling 11-16 inch prices up 5 points to 24.58 cents a pound. Market aspects focus on potential planting levels under the new farm bill and pending crop developments.
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