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Newspaper
Register Herald
Location
Beckley, West Virginia, United States of America
Date
Oct 17, 1998
Page
9
The Dow rose 117.40 to 8,416.76 marking a record one week gain of 517.24 points after an unexpected Federal Reserve rate cut. Broad indexes extended Thursday's rally as investors priced in slower activity and potential further cuts, lifting markets toward Friday's high not seen since August.
Composite volume figures show 1 207, 287, 270 for 1997 August. Additional comp volume totals are 630, 215, 250.
Congress advances a $500 billion budget pact with White House and Republicans. The plan includes an extended Mississippi duck season and a tax break for oil product importers. Final passage unlikely until Tuesday after lawmakers return from campaign stops.
A cluttered OCR list shows various stock names with last values and changes. Includes AFLAC AT&T Alltel Amoco Exxon Duke Energy Kodak Edison and others with mixed price figures and small percentage shifts.
A half hour hailstorm in Charleston triggers months of repairs as car dealers' service bays fill. Turnpike Ford Marmet and Joe Holland Chevrolet South Charleston report heavy demand. State Farm calls it WV's largest catastrophe with about 8,200 auto claims and 2,300 home claims totaling over 23 million dollars. Prudential shows 111 claims averaging two thousand dollars.
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