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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Aug 12, 1976
Page
6
Two figures clash over the economy's momentum with a union official arguing retail sales fell 1.2 percent in July and the businessman insisting data are evolving. They discuss savings, car purchases, and income distribution, noting the rich and the poor are not equally prospering.
The piece reports economists warn European inflation may spill into the United States as Europe lags in recovery. Merrill Lynch notes double digit price jumps in major nations and rapid money supply growth. analysts foresee 13 19 and 15 percent price rises in France Italy and Britain by late 1977 with synchronized global inflation as the risk.
Dow Jones 2 p.m. averages show 30 Indus at 983.63 down 3.16, 20 Trans at 223.21 up 0.24, 15 U.S. Industrials at 92.92 down 0.25, and 65 Stocks at 309.41 down 0.61 as late national prices on the New York Stock Exchange are reported. The list includes numerous company prices with mixed highs and lows and percentage changes.
New York stocks drifted lower with the Dow Jones Industrial Average down 3.16 to 983.63 as NYSE volume reached 10.33 million by mid afternoon. Players say investors cooled after a volatile two sessions with Sony at 9 percent and a 214000 share block trading at unchanged price.
Closing quotes show gold at 113.00 down 0.40, IMAA Sept gold 112.90 down 0.70, Aug silver 4.34 up 0.04, platinum 157.20 up 0.20, copper 70.1 up 0.03, Sept wheat 3.25 up 0.01, Sept corn 3.73 up 0.00, Aug soybeans 6.304 up 0.22, Aug live cattle 38.47 up 0.02, Aug live hogs 43.62 down 0.10, Sept pork bellies 67.45 up 0.88, Sept eggs 0.623 up 0.09, May Maine potatoes 7.85 up 0.18, Sent plywood 152.00 down 0.90, Oct cotton 77.0 up 0.27, Sept sugar 11.3 up 0.19.
Scottsdale resident Dr. Willard E. Hauth Jr. named program manager for automotive electronics systems at Motorola's Semiconductor Group. The role coordinates customer needs with Motorola product groups for new vehicle electronics. Former GM AC Spark Plug R&D director brings 18 years of industry experience.
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