Market Outlook Sees Upward Trend Despite Fed Watch
A broad market briefing notes an overall tilt upward with potential near term profit-taking after the Fed leaves the discount rate unchanged. Aluminum and certain issues like Suntay DX Oil Chrysler Mead Johnson Minerals & Chemicals Philipp and General Aniline & Film are highlighted as favored. The Dow Jones industrial average posts a new recovery high closing at 868.49 with intraday peak above 872.33, while the broader indices also hit recovery highs and rails join the upturn, though the advance-decline line remains shy of its best level.
MENTIONED IN THIS ARTICLE
Federal Reserve Board
Reynalds Metal
Suntay DX
Chrysler
Mead, Johnson
Minerals & Chemicals Philipp
Ft General Aniline & Film
Trang
DowSoes India
P J
En Reserve Board
Dow-Jones
Standard & Poor
New York Stock Exchange
Wahler
Coe
Busch Funeral Memorey
Geoaine Dains ii
Seelate
Fed Auletin
Ie Morris
Atery Resell
Etry
Nelinan Saarcus Ie Econach
Meniasco
Nehorson Et Heerch
Ing
Newldria Mint
Bilmekins
Nordan
Beynicho Dew
Ae Gory
Westates
Roblen
Eatnet
Dasa Corp
Ben Ny
Bitetson
Wisi
Aucner Ee
Benin
Els Satan Ng
Askea
Bier
Aberdeen Td Jargan
Wan
Siena Fae
Qasnes
Fletcher
Linn & Senate
lGxeas Rae Yen
Mall Westen
UN Asan Invest
Inc
Ata Sea
Noreast
Elec
Eny
Bes Gentry
William St Etec
Akifserom
Onoenneim
Giifeine Ridge
Grom Securities
Azroamace
Peeniias
Einsienl
Industik « Ulleek Fund BM
Lea Igcowah Indust Providants
Irolan
Cal
Tampax
Spector Invest Coa
Bos
Alancestors
Bk A
Ang Crostll
Aaepinal Vndea
Eltadel
Amuuual
Stavaneascey
Tate
Keystone Custonian Funda
Siengman
Ineo
Errold Corp Ae
Ganvert
Corer Con Sa
Raaerslee
Rat Fee
Ieee Nea Wit
Chiara Bing Lad
Tom ‘Han Kayden
Welaom Koreol
Laon
Morten
Zions
Aarathon
Trade Mission and Market Signals Stir Investment Talk
An American private investment and trade mission led by former Under Secretary of State George Ball arrived in Seoul for a week. The group will explore barriers to investment and trade expansion as stocks fluctuated on the Dow while analysts noted uncertain market conditions and potential buying signals amid economic volatility.
MENTIONED IN THIS ARTICLE
Seoul
Korea
George Ball
Dow. Jones
Market note on DJI and DIR divergences
The report highlights that key points on the DJI and DIR prices must not break to preserve the patrend. Closing figures read 936.64 for the DJI and 226.46 for the DJR, with potential defects not confirmed by the DJR. Divergences are emphasized as important indicators.
MENTIONED IN THIS ARTICLE
Dir
Market Groups Lead On Relative Strength amid Inflation Pressures
Pacific Coast Exchange notes strongest groups include aerospace airlines broadcasters coal drugs electrical machinery electronic equipment meat packing motion pictures publishing shipping and vending machines with recent gains in cans packaging construction machinery and truckers while aluminum rubber banks and sulfur underperform as inflation shifts investing toward capital gains over income.
Reuther Backing Seen From 372 UAW Local Unions
Skilled tradesmen from 372 UAW locals endorsed Walter P. Reuther at the 12th International Skilled Trades Conference. A resolution urged the April general convention to authorize withdrawal from the AFL-CIO if needed, with 1,265 delegates approving the action amid strong support.
MENTIONED IN THIS ARTICLE
Atlantic City
United
Auto Workers Today
DAW
Walter P
Reuther
Afl-Cio
UAW
Federation
U S Warns Europe to Cooperate on World Money Plan
Secretary of the Treasury Henry H Fowler warned European bankers and officials that the United States may use its economic power to press changes in the world monetary system. He urged agreement this year on a plan to create new monetary reserves to supplement gold dollars and pounds, noting objections mainly from France.
MENTIONED IN THIS ARTICLE
Pebble ‘Beach
United States
France
Fen
Fowler
International Monetary System
Copper Labor Talks Set for 31,000 Workers
Washington outlines a push for enhanced job and income security in steel, mining, and copper sectors. United Steelworkers and Mine Mill and Smelter Workers Union press pensions layoff benefits and protections as bargaining begins around May 1 for contracts at American Smelting and Refining, Anaconda, Kennecott, and Phelps Dodge firms, amid a looming June 30 strike deadline.
MENTIONED IN THIS ARTICLE
Washington
United Steelworkers of America
American Smelting & Refining Co
Anaconda Co
Ken
RCA Lays Off 1900 Across Two Indiana Plants
RCA announced temporary layoffs affecting 400 workers in Marion and 1,500 employees at its Bloomington color television plant. The shutdown will pause most manufacturing for three days next week, with the Friday notice confirming the actions.
MENTIONED IN THIS ARTICLE
Marion
Ind
Radio Corp. of America
RCA
Bloom-ington
Walkout of Airline Clerks at Midnight Likely
Washington National Airlines and the Air Line Employees Association faced a midnight strike deadline with both sides signaling a likely walkout. Negotiations at the National Mediation Board yielded no clear path to a new contract, and airline spokesmen warned operations could continue if other unions did not picket. The Chicago-based union argued negotiations showed little progress and a strike seemed likelier than ever.
MENTIONED IN THIS ARTICLE
Washington
National Airlines
Lkely
Air Line Employess Association
National Mediation Board
Chicago
CIT Fin Acquisition of Laurentide Finance in Cash Deal
New York The CIT Financial Corp, the nation's largest independent finance company, announced it acquired Laurentide Finance Corp of America in an all cash transaction. Laurentide, with about 115 small loan offices in California, Oregon and Washington, has faced serious financial problems and substantial losses. Reported consideration ranges from about 8 million to over 14 million dollars in checks.
MENTIONED IN THIS ARTICLE
New York Times
New York
CIT Financial Corp
Laurentide Finance Corp. of
America
Laurentide
California
Oregon
Washington
CIT
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Newton D
Zinder
E. F. Huttes & Co
H. DE LA Chapelle
Paine, Webber, Jackson & Curtis
New York Exchange
Eastman Kodak
Stanzusi
Wall Street
New Jersey
Monjeed
Santo
United Fruit
Mead Johnson
Metrecal
Northwest Airlines
Pacific Coast Exchange
Jaa
Aaa
U.S
Europe
Edwin L. Dale JR
New York Times Service
Sazy
Cial
Indiana
Minnesota
Dodge Center
National Farmers Organization
C.lt
Laurentine
Jim Gray
Maites Cuy
Long Beach Blvd
Long Beach
Ocean Ave
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