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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Jul 14, 1975
Page
4
The New York stock market rose modestly as investors weighed a sharp May drop in business inventories amounting to 32.97 billion dollars. The Dow Jones Industrial Average stood at 72.90, up 1.41, with more advancers than decliners amid moderate trading and a recent prime rate increase.
The stock market rose amid mixed reports with Westinghouse Electric and Philip Morris advancing after bright second quarter results. National City Bank led gains among banks as overall indices edged higher on Friday, with the NYSE composite and Amex value indexes showing modest climbs.
A UPI survey finds weekend gas prices around 60 to 68 cents a gallon with regular at 63 to 68 cents, prompting shoppers like Dell Knight to limit trips while others sell cars for bikes. Retailers forecast prices peaking near 75 cents this year, possibly reaching $1 by next summer amid embargo fears.
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