Stock Market Dives After Early Rise On Apollo Hype
The Dow Jones industrial average fell 11.90 to 834.02, the year’s low, after an initial 1.41 gain faded. Oil and oil related shares slid amid proposals to cut the oil depletion allowance, with Royal Dutch, Occidental, Reading & Bates Offshore, and Texaco among losers. American Airlines rose on a new trans Pacific route, while Sperry Rand dropped on weak earnings. overall, 1,042 of 1,558 issues declined.
MENTIONED IN THIS ARTICLE
New York
Dow Jones
Dow
House
Ways and Means
Royal Dutch Petroleum
Occidental Petroleum
Reading & Bates Offshore Drilling
Standard Oi
Standard Oil of California
Texaco
Natomas
Atlantic Richfield
Indonesia
Chrysler
General Motors
American Airlines
New York Stock Exchange
American
United States
South Pacific
New Zealand
Australia
Grumman
McDonnell Douglas
North American Rockwell
Boeing
General Electric
Sperry Rand
Welt
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Complete Markets
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Phil, Thomas
AP Business Writer
Eckerd Drugs
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