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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Apr 15, 1976
Page
6
AP analysis explains how the Dow Jones Industrial Average and the Value Line index can diverge, reflecting different stock groups. The piece notes that a bull market since 1974 favored blue chips, while many smaller firms lag, and warns investors to view indices as tools, not the market itself.
A coalition of Paradise Valley Scottsdale and North Phoenix businesspeople plans the Bank of Paradise Valley to be home owned and managed for PV residents. The bank aims for a 1977 opening with a Cactus Road and Tatum Boulevard home office site under consideration and stock restricted to local residents and professionals. Notable incorporators include NBA veterans Dick and Tom Van Arsdale and other Paradise Valley residents and Scottsdale figures.
New York price sheet from the New York Stock Exchange lists broad mixed results with notable figures for Dow components Delta Air Lines Exxon Mobil and General Electric among others, reflecting varied gains and losses across indices and individual stocks.
London gold 127.75 up 0.15 oz. May cotton 69.92 cents down 0.15, May sugar 14.2 cents up 0.2, May wheat 3.56 up 1.02, May corn 2.67 up 0.34, May soybeans 4.864 up 0.04. Cattle 46.20 up 0.30, live hogs 49.97 up 0.75, pork bellies 77.20 up 0.93, eggs 42.7 cents up 0.35, Maine potatoes 11.95 up 0.75. Copper 70.2 cents up 0.014, April silver 4.40-1/5 up 0.019. Platinum 152.70 up 1.50, May plywood 160.00 up 0.60. MM June gold 128.10 unchanged. Market not closed on above items.
The American Exchange reports mixed movements across many issues with some prices rising. Notable entries include AegisCorp, Petrof, Frontera, and York area stocks showing small gains while others show marginal declines or flat readings.
AP reports the NYSE movers by percent change. Top gainers include BT Mig Inv up 2 percent and StLouSanF up 2 percent, while declines feature Fluor of Bo down 6 percent and Capit Mig We down 7 percent.
Geoffrey Bell, a leading British banker, says the United States economy shows a solid recovery with low inflation and steady growth. He notes inflation below many peers, a favorable policy mix, and strong demand from Europe, while Britain improves but remains challenged.
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