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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Dec 23, 1974
Page
5
Readable excerpts show a long, dense feed of NYSE stock quotes at 2 pm including prices highs lows last bids and changes across numerous companies such as Aetna Air Products Alcoa Dow and Exxon. The data reflects intraday trading activity with many entries and partial company names.
UPI reports A. W. Zelemek Associates in New York predicts factors point to a steadier stock market, even as the economy remains weak through the first half of 1975. The firm notes much negative news is already priced in but warns it will take time to repair the damage.
Market update lists London gold at 192.00 up 4.50, Feb silver 4.71 up 0.20, platinum 173.70 up 3.20, Mar copper 0.5530 down 0.049, Mar wheat 4.62 down 0.094, Mar corn 3.47 down 0.78, Jan soybeans 7.364 down 0.09, Feb live cattle 40.97 up 3.07, five hogs 44.75 down 1.05, pork bellies 64.40 down 0.0, fresh eggs 54.05 down 0.0, Maine potatoes 4.30 up 0.0, Mar cotton 0.3705 down 0.0055, Jan plywood 110.00 down 0.10, sugar 0.4472 up 0.02. Market not yet closed on some items.
Interim Dow Jones values show declines across sectors with 30 Industrials at 589.56 down 8.92, 20 Transports at 139.39 down 1.55, 15 Utilities at 65.85 down 0.58, and 65 Stocks at 191.92 down 2.50. Volume logged at 12,310,000 shares.
The piece reviews price earnings ratios as a gauge of investor sentiment during a broad market decline. It notes the Dow fell 18.1 percent while the S&P 425 and Media General Composite fell more, and explains how lower PE multiples reflect diminished value and altered expectations for earnings growth across major indices and firms.
Chartist Ted Warren rose from Canadian wheat fields to retire early by predicting long blocks of stagnation in which “dogs” stocks bottom out at low prices before rising. He warns readers that timing is crucial and favors buying during accumulation then selling near peaks, while noting skepticism toward the Dow’s head and shoulders pattern.
Sears reports holiday toy demand centers on action figures and dolls led by Batman Evel Knievel and Barbie. Stunt sets and racing games expected to top 100 million in 1974 with life like baby dolls, G I Joe and Big Jim among popular figures. Realistic toys modelled after McDonald’s and Holiday Inns appeal through familiar settings.
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