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Stocks Hit New High in Market Rally Amid Gloomy Forecasts
The Dow rose 26.03 to 1,070.92 on a busy trading day with about 130 million shares changing hands as investors priced in a slow 1983 recovery. Reagan administration projects unemployment above 9 percent into next year while gas taxes rise to fund roads and trucking expands. Energy costs for heating rise 25 percent this winter, and auto output climbs 51 percent year over year as layoffs peak at 269,400.
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Wall Street
Dow
New York Stock Exchange
Reagan
Energy Department
United States
Ward
Automotive Report