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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
May 28, 1966
Page
5
A thin Friday session ends with a sixth straight gain as short-covering leads a late rally. The Dow rises 9.29 to 897.04 on light volume of 4.79 million shares as traders brace for Memorial Day weekend. U S Steel climbs after late news of reactivation demand.
The wide swinging glamor stocks led late short covering as the Associated Press average rose to 324.7 with industrials up 1.3. The S P 500 gained 0.26 to 87.35 while 1,581 issues traded, 629 rose and 448 fell. Teledyne became the most active stock, advancing about 6.9 points on big Board trading.
New York trading shows mixed stock results with narrow bond moves. Commodities tangle as cotton futures rise and grain markets display steady to uneven trends across wheat corn oats and soybeans.
Market activity shows a sizable supply with 3 400 head, prices moving up to 10 dollars for small lots. Land 2 grades fetch 26 50 up and mixed to 25 06.00. Misec ind 3s reach 350 lbs at 20 50 05, lows to 2007. Week supply 24 500, down from prior. Sheep and cattle prices vary, with top grades clearing at 25 40, high choice and prime FC sales noted. Wool futures close quiet with no sales and spot tops at 1 75 5.
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