Dow tops 1000 as stock market soars on rate hopes
The Dow Jones Industrial Average rises 25.94 to 1,012.79 on Monday as traders push the market past 1,000 for the first time since June 1981. Volume hits 138.53 million on the NYSE amid signals that cheaper money may spur a broader recovery. Analysts cite improving liquidity and rate expectations, with optimism tempered by past volatility at the 1,000 level.
MENTIONED IN THIS ARTICLE
Associated Press
New York Stock Exchange
NYSE
Michael Metz
Oppenheimer & Co
William M. LeFevre
Purcell, Graham & Co
Dow
Dow Rally Turns Optimistic As Markets Rebound Globally
The Dow trend from 1980 to 1982 shows gains aided by Reagan era optimism as rates appear to ease. Bond prices rise sharply while gold climbs to 448 an ounce amid holiday trading and revised monetary stance expectations. Savings and loan losses hit 3.3 billion in first half 1982 as banks face high funding costs. GM Fisher Body to study closing three plants risking 900 jobs plus 300 on layoff. J S Case extends seven plant shutdowns affecting about 5,200 workers.
MENTIONED IN THIS ARTICLE
General Motors Corp
Fisher Body
Detroit
Fred Craig
Columbus Day sales examined by nation’s retailers
Retailers used Columbus Day to draw shoppers with discounts as some stores reported brisk business while others called sales only average. In Detroit slippers sold for 1 dollar and California shoppers began Christmas buying, while Michigan crowds at Kingsway reached about 1,000. Higbee in Cleveland staged an America promotion with balloons and performances. president Broadbent said traffic doubled but judged conversion to sales uncertain.
MENTIONED IN THIS ARTICLE
Pauline Jeliner
Associated Press
Detroit
California
Harold Lepp
Lord & Taylor
New York
Rich’s
Atlanta
Ann Bert
Reagan
Michigan
Kingsway Department Store
Higbee Co. Department Store
Cleveland
America
Phyllis George Brown
Kentucky
John Y. Brown
Robert R. Broadbent
Nervous town cancels Halloween in Shreve Ohio
Prodded by two attempted abductions and an unsolved July child murder, Shreve mayor orders Halloween trick or treating canceled on October 31. Police report a blue sedan linked to an abduction attempt outside Shreve Elementary School and another sighting near the Wayne County Fairgrounds.
MENTIONED IN THIS ARTICLE
Shreve
Ohio
Wayne County
Bruce A. Briggs
Glen Wise
Wayne County Fairgrounds
Wooster
Lakewood Chief Bitten by Rattlesnake During Jog
Lakewood Police Chief Charles Johnston, 39, was bitten on the leg and thumb while jogging between Lakewood City Hall and Red Rocks Park. He said about 50 motorists passed before a driver from Golden named Charles Schultz stopped to aid him after Johnston killed the snake with a rock and tore off its rattles.
MENTIONED IN THIS ARTICLE
Lakewood
Colo
Charles Johnston
Johnston
Lakewood City Hall
Red Rocks Park
Charles Schultz
Golden
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Dallas
White House
Larry Speakes
U.S
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J.S. Case Co
Racine
Wausau
Wis
Bettendorf
Burlington
Wall Street
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Ties Gates
Cortoun
Courpionios Peyrheta
Shelimas
Seton
Beos
Abewl
Rae Sree
Pacific International Ltd
First Street
Nekoosa
Leo
Agen
Gloria Vanderbilt
Oleg Cassini
Christian Dior
Royal Optical
Luco
Texas
Continental
Odessa
Santa Fe Square
Metro
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