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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Oct 11, 1982
Page
14
Business writer notes the stock market rally this year mirrors past bull markets. Analyst Tabell details take-off rallies, citing gains from 16.8 to 60 percent over 14 to 83 weeks and examples like the 1974 drop to 577, followed by a rapid rise to 750. Volume records accompanied the moves.
New York stocks opened higher with the Dow up 1.84 to 988.68 as traders price in hopes of lower interest rates. The market followed a two month rally with gains outpacing declines 664 to 152 among 1,065 issues amid optimism over policy.
New York AP reports the Dow Jones industrial average rises above 1000 for the first time since 1981 as investors cheer easing interest rates. The index climbs about 20 points in early trading to 1007.27 with 36.58 million NYSE shares traded at 11 am. Volume later marked lower than a record, while advances outpace declines 7 to 1. The Federal Reserve had cut its discount rate to 9.5 percent after Friday’s session.
A compilation of mineral and gas well names with associated landholders and values. The long list includes Amoco Exxon Mobil Texana Pierce and others, with locations such as Poker Lake and Pryor Est. and owners like Hill Halley Egger Rhodes and Guthrie.
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