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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Mar 29, 1977
Page
5
The 2 p.m. quotations show broad activity with major names like Coca Cola Colgate and IBM among movers. Market breadth reflects gains for some leaders while others slip as traders weigh corporate results and economic signals.
An AP analysis notes that while lower income families rose out of the 1968 pay bands and earned higher real incomes, the cited figures do not prove that rising college costs caused reduced university enrollment among those groups. Interpreters may overstate the link.
The author argues that rising consumer prices explain most apparent income gains from 1966 to 1974 and that greater enrollment from higher income groups reflects dollar devaluation rather than real wealth increase. Inflation erodes dollars. by 1978 the 1968 dollar is worth only about 50 cents.
The Dow Jones average rose 4.82 to 930.93 by 2 p.m. as gains outweighed losses in a light trading session. NYSE issues led by Sony which fell to 10, while a 520,300 share block changed hands on the Boston Exchange. The NYSE composite index advanced .24 to 54.09 and the AMEX market value index gained .10 to 111.79.
London AP reports British actor Peter Sellers, 51, received an electronic pacemaker at Charing Cross Hospital on March 21 after collapsing on a jet en route from a honeymoon in the French Riviera. The Pink Panther star, known for Dr Strangelove, returned to a home near St Tropez with 22 year old Lynne Frederick whom he wed five weeks earlier.
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