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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Jun 30, 1990
Page
9
The Dow rose 1.98 to 2,880.69 as week gains total 23.51. Advancers outpaced decliners 5 to 3 with 954 up, 583 down, and 469 unchanged on 145.55 million NYSE shares. Wilshire index up 0.21 percent to 6, into broader gains across NYSE, NASDAQ, and AMEX markets.
Money market mutual funds have grown fast over the past decade but face higher risk as some funds boost yields by taking riskier assets like commercial paper. Defaults could occur if banks pull back, though many losses have been covered by parent companies. Investors should favor high quality, government securities funds, with short maturities, strong assets, and ratings, while considering international options through ADRs or international funds.
New York AP reports Dr. Robert Willis, 51, admitted receiving stock tips during therapy with the wife of financier Sanford I. Weill. Willis pleaded guilty to two securities fraud counts after an indictment that charged 46 counts of securities and mail fraud. he acknowledged knowing it was illegal.
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