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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Aug 17, 1976
Page
5
AP Business Analyst John Cunniff notes the 1970s bring economic transition and uncertain futures for businessmen investors home buyers and job seekers. He cites weak capital spending and retail sales as dampening confidence while Americans question the payoff of education and career plans.
The piece argues that inflation, no-growth fears, and political uncertainty hurt investors and savers. It notes job insecurity, rising reluctance to change jobs, and pressure on young families deciding to rent or buy. It concludes the economic cycle remains beyond full control.
Ernest Balzarini named sales director for Arizona Resorts overseeing national sales programs for Casa Blanca Inn Safari and Valley Ho Hotels Scottsdale Country Club Ramada Inn Phoenix East and related properties He will base in Phoenix and has background as Western Airlines account executive.
The 2 p.m. quotations show varying percentages and figures across stocks and indices. Readings include percentages such as 28 and 21 with numerical values like 874 and 2634, reflecting price movements and trading activity.
New York AP Dow Jones 2 p.m. stock averages show mixed results with Industrials up modestly to 998.42, Transports barely changed, Utilities up, and the overall Stocks index edging higher amid broad activity. The report lists dozens of company quotes including Chrysler, Coca Cola, Citicorp, IBM, Exxon, and Pennzoil among others reflecting varied returns across sectors.
The Dow Jones 30 rose to 998.42 as glamor stocks led gains. Trading volume on the NYSE reached 12.71 million shares with more advances than declines. Buoyed by Ford delegate support at the Republican convention in Kansas City, traders resumed buying amid campaign outlook uncertainty. The NYSE composite edged up to 55.97 while the AMEX index fell to 103.74.
Today's closing quotations from Madda Trading Company show London gold at 111.60 dollars per ounce down 1.40. IMM Sept. gold 111.50 down 1.50. Aug. silver 4.222 down 0.09. Oct. platinum 155.50 down 2.70. Sept. copper 0.754 down 0.001. Sept. wheat 3.17 down 0.01. Sept. corn 2.7344 down 0.424. Aug. soybeans 4.224 down 0.20. Aug. live cattle 38.80 up 0.45. Aug live hogs 143.77 up 0.37. Aug. pork bellies 66.85 down 1.07. Sept. fresh eggs 0.6305 up 0.0. May Maine potatoes 7.60 up 0.0. Sept. plywood 152.60 up 0.40. Oct. cotton 0.783 down 0.02. Sept. sugar 0.1086 down 0.0031.
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