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Stock Market Edges Down Amid Rate Hikes And Data
New York stocks ended the week with a modest loss as higher interest rates overshadowed signs of an improving economy. The Dow fell 6.68 to 862.41 after reaching a 15 month high earlier in the week, while the S&P 500 slid 1.45 to 93.20 and the NYSE composite declined 0.64 to 50.07. Major banks lifted lending rates adding inflation fears. Citicorp fell 2 to 36, Merrill Lynch rose 1 to 19 3/4, Westinghouse gained 1 1/2, Polaroid gained 1 1/2 to 40, Pan Am dropped 7 to 4 amid a review of a financial aid plan from Iran.
MENTIONED IN THIS ARTICLE
New York
Standard & Poor
New York Stock Exchange
NYSE
Commerce Department
First National City Bank
Citibank
Citicorp
First National City
Merrill Lynch
Westinghouse Electric
Polaroid