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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Jun 15, 1977
Page
7
New York AP reports late 2 pm stock quotes on the Dow Jones at 920.62 with a 1.95 drop and further declines or gains listed across industrial, transportation, utilities and stock sectors. Major names like General Electric, American can and various banks appear in the price table with notable percentage changes and trade activity.
The NYSE list shows top gainers and losers by percent change for Wednesday. Securities like Pallad, Deltona, Suave Shoe, Cooper Lab, Semtys, Allied, and UPS moved, with notes on price shifts from previous close to noon. Listings exclude beneath $2 and reflect overall market volatility.
Arizona oriented stocks show mixed moves in New York and American exchanges with companies such as APS and Southwest Gas quoted. The Scottsdale Merritt Lynch office reports varied bid and deal values across Arizona tied firms and banks, reflecting uneven price activity in the day's session.
Inflation fighters see relief as recent weeks bring a downturn in world commodity prices and weaker futures. the shift follows years of hopeful promises and persistent price pressures. The trend suggests a possible change in raw material costs after wartime spikes.
Prices for corn wheat cocoa and other futures retreat while wholesale indices show only a small May rise. Morgan Guaranty cuts its rate to 6.5 percent in response to market conditions and a reduced inflation outlook could lift stocks if consumer prices ease later this year.
Daniel Philip of Holiday Inn, speaking at the Travel Research Association conference in Scottsdale, urges pooling resources for targeted consumer studies. He warns the industry risks becoming a dinosaur if it relies on gut feelings and airline or bank data, highlighting the growing market of higher income travelers and the shift toward experiential travel.
Adm. Harold Shear, 58, former vice chief of naval operations, is appointed by President Carter to head allied forces in Southern Europe succeeding Adm. Stansfield Turner who becomes CIA director with NATO concurrence.
The 2 p.m. Dow fell 1.9 to 920.62 after Tuesday’s rally. Big Board volume reached 15.77 million shares midway through trading. Gainers slightly outnumbered losers 74 to 76, with British Petroleum leading the NYSE active list as the NYSE composite slipped to 54.54 while the AMEX value index rose to 115.59.
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