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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jan 25, 1977
Page
4
U S stock averages show modest gains with industrials and utilities up, while tech and energy sectors fluctuated. After minutes of varied readings, investors weighed corporate earnings and Fed signals as New York trading closed near session highs.
The AP provides a NYSE roundup of top gainers and losers for Tuesday. Notable risers include Kidde, Revere, and Avco while Monsanto, Digital Equipment, and Hesston show notable declines. both sections exclude prices below two dollars.
Today’s closing prices list London gold at 133.75 up 1.02, IMM Mar gold 135.10 up 2, Feb silver 2.515 down 0.12, Mar copper 0.659 down 0.09, Mar wheat 2.7894 down 0.24, Mar corn 2.6034 unchanged, Mar soybeans 7.34 down 0.15, meal 213.20 down 1.10, soy oil 22.62 down 0.11, Feb live cattle 38.02 down 0.48, Apr cattle 39.00 down 0.25, Feb hogs 38.70 up 0.25, Mar lumber 180.80 down 2.30, Mar cotton 0.731 up 0.04, Mar sugar 0.0895 up 0.0019. Market not closed.
The Dow Jones average rose to 968.33 as of 2 p.m., up 4.73, with the market seeing buying strength. Advancers topped decliners about 3 to 2 on the New York Stock Exchange and volume reached 17.63 million shares as trading stayed active amid bets on a tax credit increase in the new administration's economic plan.
Orville Bud Steele Jr has been named general manager of the Safari Hotel and Convention Center in le owned by Arizona Resorts. He replaces Bill Pullen and previously coordinated Ramada Inns field marketing and Self Help Action Groups. Steele has led Ramada Inns at Boston Airport and Casa Blanca Inn and began in hotels over a decade ago after stints with Holiday Inns and Travelodge.
Phoenix AP reports James K. Richardson president of the Arizona Mining Association warned before the Arizona House that copper industry economics will worsen in 1977 and a strike could occur this summer. He said refined copper production should rise while consumption declines, creating a supply demand imbalance even without a prolonged strike.
Gov Raul Castro told a Senate House economic sub committee that Congress should provide emergency relief for economic disasters. He cited the Mexican peso devaluation hitting Arizona border towns as intense and damaging and said federal aid could have sped recovery.
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