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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Oct 22, 1974
Page
8
UPI reports 2 p.m. quotes showing several stocks advancing amid mixed readings on the New York Stock Exchange. Notables include diversified names like AmEx issues and industrials with gains noted in percentage terms, while other issues show declines or flat movement on the day.
The Dines Letter predicts two to five irregular rallies as the Dow hits 626, with a cautious note that rallies will be treacherous. It says the market is in a downtrend but could see a period of temporary improvement before much worse times, urging investors to buy on dips. E F Mitton notes the Dow lagged while S&P and NYSE indices rose. The firm claims inflation and high rates are past their peak.
Market closes with mixed moves as industrials slip 4.77 to 665.05 while transports rise 0.81 to 153.24 and utilities gain 0.09 to 69.08. The overall Dow Jones index stands at 212.62, down 0.54.
Prices covering gold silver platinum copper wheat corn soybeans live cattle live hogs eggs pork bellies Maine potatoes cotton plywood are listed with daily changes. Commodities quoted by Madda Trading Company Inc. include London gold at 177.50 up .50 and Dec cotton at 44.85 cents per lb with a 14 cent rise.
City officials will meet downtown Scottsdale businessmen at 8 a.m. in the Scotts dale Chamber of Commerce, discussing the urban design study, Scotts dale Road redesign, drainage and parking. City Manager Dale Carter, Long Range Planning Director Dr. Richard Bauman and Capital Improvements Engineer George Iannella will brief attendees. The Howdy Dudettes hostesses will deliver invitations to area businesses bounded by Camelback Road, Miller Road, Osborn Road and 68th Street.
Trading on the New York Stock Exchange showed mixed results with the Dow slipping 3.13 to 666.69 as blue chips wavered. The market saw gains in the Dow and mixed moves across sectors with ARMCO and Schering-Plough posting higher earnings while rails like Norfolk & Western rose on strong results.
Hallcraft Homes Inc filed with the SEC showing a fiscal year loss of 7.5 million or 3.71 per share. For the quarter ending July 31 another 2 million loss or 1.03 per share was posted amid sales declines.主席
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