Stocks rise as AP index gains for sixth week
The Associated Press average of 60 stocks rose to 321.4 on Friday from 321.3 a week earlier. The commodity index increased to 172.4 from 172.2 the prior period, with live cattle showing the largest gain.
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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Jun 20, 1965
Page
31
The Associated Press average of 60 stocks rose to 321.4 on Friday from 321.3 a week earlier. The commodity index increased to 172.4 from 172.2 the prior period, with live cattle showing the largest gain.
The Johnson administration acted to shore up public confidence as stock markets recovered after a sharp slide. Officials including President Johnson and Henry Fowler reassured investors amid war in Vietnam and global uncertainties. Industrial output rose in May, payrolls hit new highs, and proposed excise tax cuts totaling over 4.6 billion aim to curb living costs in July. Autos output set a weekly record, while steel output dipped for the first time in a month.
Thieves pried coin boxes from vending machines at Paril's Marathon Service Station and Ken's Standard Service Station in Carbondale early Friday. No estimate of the stolen amount was provided.
Wall Street saw the week’s end marked by a heavy trading climax as 30.25 million shares moved, signaling a potential end to the spring downtrend. The Dow fell 2.53 to 879.17 while the S P 500 rose .22 to 85.34 and the AP average gained .1 to 321.4 amid a mixed week for market leaders.
Treasury bond prices rose in a week when corporate bonds were mixed and municipal issues fell to their lowest levels since last October. Yields edged up to about 3.25 percent on good quality munis while the New York Stock Exchange saw volume rise to 66.89 million dollars.
Week ending Friday saw hogs at 25.40 for cash and sows at 21.50 with about 1.10 higher than last week. USDA weekly snapshot shows barrows and gilts 1.25 higher on lighter weights and sow gains of 1.25 to 1.50, plus cattle and sheep shifts and a Monday livestock receipt estimate of 6,500 hogs, 12,000 cattle, and 500 sheep.
The National Association of Securities Dealers, Inc. provides unofficial quotations for securities traded over the counter. The NASD states these quotes are approximate ranges between bid and asked prices.
Corn rose more than 3 cents a bushel driven by new delivery months amid expectations of tighter acreage. Wheat held ground with hedging pressure peak likely in coming weeks as winter crops progress. Soybeans showed mixed signals with oil weakening and meal climbing to season highs.
The report shows closing ranges for the week ending June 18 with indices across categories. Notable figures include Industrial at 879.17 last, Rails 196.56, Utilities 154.81, and 65 Stocks 303.22, with mixed net changes. Bond averages for Ist RRs and 2nd RRs moved modestly, while Utilities and Indus saw small declines and gains.
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