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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Jan 08, 1980
Page
2
New York notes the 1980s as the decade of common stocks and argues the market’s reputation as a poor investment is overstated. It cautions against equating public pessimism with fact, noting 1979’s performance and the impact of October selling on bears and headlines.
Trading on Monday lifted the Dow Jones average to 832.00 as mining and defense stocks rose on the Carter administration's responses to the Soviet invasion of Afghanistan. Gold and metal prices climbed while volume on the NYSE reached 44.50 million shares. Analysts noted potential effects on farming and equipment makers from grain export cuts and highlighted defense spending and SALT II developments shaping price moves. The piece also argues the 1980s may bring higher all-time records and a long bull run driven by inflation and asset value shifts.
Denver AP report says 60,000 Oil, Chemical and Atomic Workers Union members could strike at 4 p.m. Tuesday unless a new contract is reached with oil companies. The walkout would shut down refineries operated by about 100 domestic firms, the first U S wide action by the union since 1963.
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