Turbulent New York Stock Action Mixed Across Sectors
Trading across on the New York Stock Exchange shows a mixed session with the Dow rising to 627.87 as gains in chemicals and electronics offset declines in autos and rail shares. Volume reached about 3.7 million, with 510 advances and 479 declines, while new yearly highs stood at 63 and lows at 81. Major movers included General Electric and Lear, with a broad array of industrials, rail, and utility issues showing varied results.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Dow Jones
Associated Press
General ‘Telephone
Lear
Bar
Crowell-Collier
Republic ‘Steel
Lukens
Youngstown Sheet
Jones & Laughlin
Steel
Bethlehem
Kendall
Hertz
Minnesota
Wc. Lorts
General Instru
Texas Instruments
Minneapolis-Honeywell Ae General Time
Polaroid
Philco
American Stock Exchange
UPI
Bonds Higher On Wall Street Amid Discount Rate Cut Hopes
Government bonds rose as rumors of a discount rate cut gained partial confirmation after the close. Short term money rates eased in two Fed districts, lifting bond prices while corporate bonds remained mixed and rails reached a 1960 high on the AP index. Trading on the NYSE fell slightly to 6.26 million dollars, with various issues advancing or retreating as investors priced in lower rates.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Federal Reserve
Treasury
Associated Press
New York Stock Exchange
Union Pacific
Pennsylvania
General Cigar
Aluminum
Canada
Pacific Gas & Electric
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