New York stocks rise modestly after rate hike sparks shifts
The NYSE rose slightly with three advancers for every two decliners as CitiBank of New York and other banks raised their prime lending rate to 4 percent, signaling costlier borrowing. The Dow Jones average edged up while activity showed bargain buying by investors. Sony and RCA led active trading as oil stocks also moved higher, with the composite index up modestly and volume at about 7.17 million shares.
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Isi
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Bankin Sof Ak
Potas
Aimee
Citibank
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Sony Corp
RCA Corp
el Paso
Occidental Petroleum
Pittston Co
Buss & An
Mr Wrk
Rivers Bae
Eden
Heron
Ieee
Folger Coffee Price Cut Prompts Mixed Market Signal
Procter & Gamble announced a 25 cent per pound wholesale price cut on Folger ground coffee to 418. Retail impact seen as limited as many stores price near wholesale to attract buyers. In a New York chain Folger sells at 3.19 per pound.
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NEW York
Procter & Gamble Co
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Eastman Kodak
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Greta
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