Markets Snapshot From The New York Exchange
At 2 p m quotations show Zenith Rad at 130 319 and 13 2 with 12 percent, Ya Zurn at 28 9 36 and 7 percent in trading sessions.
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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Feb 13, 1975
Page
6
At 2 p m quotations show Zenith Rad at 130 319 and 13 2 with 12 percent, Ya Zurn at 28 9 36 and 7 percent in trading sessions.
Investors pushed blue chips and glamour stocks higher on the New York Stock Exchange amid heavy trading ahead of President Ford’s plan unveiling. The Dow rose to about 726.38 as advances outpaced declines, with record first-hour volume and gains in Schlumberger Getty Oil Kerr McGee IBM and Texas Instruments among others.
The U S dollar strengthened in Frankfurt London Paris Amsterdam and Tokyo at the session start while easing in Zurich Brussels and Milan. Gold firmed with Zurich at 175 75 and London at 176 50 per ounce ahead of London morning fix. The dollar opened 2 3490 marks in Frankfurt and 4 3250 francs in Paris.
Closing quotations from Madda Trading Company list London gold at 178.75 dollars per ounce up 3.75, IMM Mar gold 186.00 up 9.50, Fedt silver 4.61 up .19, Apr platinum 158.00 up 3, Mar copper 55.7 cents up 2.7, Mar wheat 4.117 up 0.74, Mar corn 3.11 up 0.24, Mar soybeans 5.972 up 2.12, Feb live cattle 34.90 up 1.10, Ech live hogs 41.27 limit up 1.50, Feb pork bellies 67.70 up 1.50, Feb eggs 49.25 cents down 1.5, May Maine potatoes 3.40 up 0.25, Mar plywood 121.40 up 0.90, Mar cotton 39.60 up 0.11, Mar sugar 36.45 down 0.49. market notes not yet closed on some items.
Dow Theory proponent Richard Russell predicts a Year of the Bull with U S Steel leading the charge as earnings are projected at 9 to 11 dollars a share. Value Line also backs heavy steel gains while analysts warn of retail sector weakness and a Treasury 6 percent retirement bond launch.
The electronics industry drums up a new contest over solid state CCD television cameras developed by Bell Labs. RCA, GE, and Fairchild fight for the CCD market with potential military and news use, while Japan is noted as a possible competitor. The device packs 163,840 picture elements in a postage stamp sized chip and aims to replace vidicon tubes with lower power and longer life.
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