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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jul 11, 1977
Page
8
AP reports the 2 p.m. quotations show Dow Jones averages with losses across major sectors. Key tickers include AMEX and NYSE listed issues with notable price changes and a recap of up and down movers on Monday.
Closing prices for London and IMM commodities include London gold 141.00 for dn 1.00 oz and IMM gold 141.60 dn 0.90. July wheat 2.3042 dn 0.634, July corn 2.114 dn 0.08, July soybeans 5.99 dn 0.30, July cotton 61.20 up 0.35. Market not closed.
Arizona companies and facilities shown in New York and American Stock Exchange prices. Merrill Lynch Scottsdale provides figures with last prices and changes for entities including APS, Southwest Gas, Valley National Bank, and regional firms.
The Dow Jones industrial average fell 3.31 points to 904.68 by 2 PM as volume reached 12.54 million shares on the NYSE. Losers led gainers 7 to 5 amid muted response to wholesale price index data and doubts about a robust economic recovery. Duke Power traded heavily at 22.54 with a 300000 share block at that price.
The AP report surveys economists and banks on whether consumer buying will sustain growth through 1977. Citibank predicts continued advancement, Chase sees a slowdown, and analysts debate savings rates and shifting demographics influencing future consumer demand.
Prudential Western business forecast indicates 80 percent of panelists expect higher dollar volume in the next quarter, just three points below the all time peak. Regional optimism runs 82 percent in Southern California Arizona and Nevada with manufacturing 88 percent and construction 81 percent predicting higher activity year over year or next quarter results.
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