Dow Stocks Hit New Highs On Broad Market Rally
The Dow Jones industrial average rose to a fresh record, gaining 32.93 to 3,978.36 as cyclical stocks lead an broad market advance. Advancers outpaced decliners about 2 to 1 on the NYSE with 324.40 million shares traded by 4 p.m. The S&P 500 stood at 481.61, the Nasdaq Composite 800.47, and other indexes posted gains amid overseas strength and optimism about the economy.
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New York
Dow
New York Stock Exchange
Tokyo shares surge after Japan reform approval
Tokyo stock prices jump across the board after Parliament approves political reform plans. The Nikkei 225 soars about 7.7 percent to a three month high as trading remains heavy. The dollar edges higher to 109.55 yen after a four day decline.
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Tokyo
Japan
James Robinson Builds Hanover Studio Empire From Baltimore
James Robinson, a former automotive parts distributor, runs Morgan Creek Productions from Baltimore and plans to own a studio by 1995. The company backs films like Robin Hood and The Last of the Mohicans and partners with Warner Bros for U.S. releases while Morgan Creek International handles overseas distribution.
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Automakers push back on emission laws and electric cars
Ford reports strong early performance of its first electric vehicle while the industry lobbies to delay or soften California and other states 1998 zero emission car requirements. Chrysler and GM pursue mixed strategies including tests of electric and alternative fuel vehicles. California aims for 10 percent electric cars by 2003 with broader me too legislation in the East.
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