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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Mar 08, 1976
Page
6
The AP report lists the NYSE 2 p.m. quotations highlighting the biggest percentage gains and losses. It notes leaders among price movers and shows changes versus prior close with intraday up and down shifts across numerous listed companies.
London gold 132.60 down 1.40. IMM Mar gold 133.40 down 0.70. Silver 4.281/5 down 0.30. platinum 138.20 down 0.20. Copper 0.597 down 0.04. Wheat 3.72 1/4 down 0.16. corn 2.69 down 0.10. soybeans 4.7834 up 0.02. Live cattle 37.20 down 0.32. live hogs 42.67 down 0.20. pork bellies 68.87 up 0.60. Eggs 52.46 up 0.05. Maine potatoes 13.40 unchanged. plywood 152.00 down 0.30. cotton 0.6198 up 0.16. sugar 0.1519 up 0.22. Market not cited on above items.
Federal unemployment tax rules: pay $1,500 or more in any quarter or have one or more employees for 20 weeks in the year triggers liability. 1975 rate is 3.2% on the first $4,200 per employee. If undeposited tax exceeds $100, deposit within one month after quarter end. File Form 940 by Jan 31 each year. Obtain forms from IRS office if not mailed. Penalties apply for late filing or payment.
AP analysis notes that memory and checkbacks influence forecasts across business and politics. Federal Reserve data reveal 1975 GNP was 1.477 trillion versus a 1.512 trillion consensus, with prices up about 8 percent and unemployment near 8.5 percent.
London reports the pound dipping below $2 for the first time in history amid heavy selling from Europe, the Far East and the Middle East. The currency later steadied around $1.95 after a sharp morning drop, with traders noting ongoing volatility and subsequent buying pressure to trim losses.
Three consumer sectors furniture appliances and home electronics show early revival in real terms with gains since late 1974. AHAM and NA Manufacturer data indicate rising appliance shipments and replacement demand led by washers dryers refrigerators and ranges.
The Arizona Review reports farming and ranching in Arizona topped one billion dollars in 1975 with 1.2 billion dollars in cash receipts from crops and livestock. The mix remained 49 percent crops and 51 percent livestock, a balance similar to 1974, while livestock share rose from 42 percent in 1965 to a peak in 1973 before easing.
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