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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Aug 29, 1977
Page
12
Trading data at the New York Stock Exchange around 1 P M shows broad activity with numerous tickers and price figures across sectors. The scrambled text references multiple names, prices, and brokers suggesting a busy intraday snapshot without cohesive narrative details.
New York stocks edged higher as trading slowed after a five week decline. Dow Jones industrial average stood at 860.36, up 4.94, with gainers ahead of losers by over a two to one margin on the NYSE. Investors weighed July economic indicators due Tuesday and anticipated a rebound after recent pessimism. Texas Utilities led gainers, with a 21 percent advance on 104,500 shares. The Nasdaq composite moved up while volume diminished from Friday.
A Harris poll shows 48.33 percent would accept a 2 cent gas tax increase if it prevents permanent gas rationing, while 87.02 percent oppose a centalampa-style tax. Most Americans reject rationing but prefer higher prices to curb consumption.
Government figures show about 700 local stations plus networks ABC CBS NBC led profits up 41.4 percent for the three networks and 60.3 percent for local outlets overall. Independent stations surged 20.7 percent while newer-owned outlets rose 50.4 percent, with pretax profits reaching 1.25 billion.
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