Week In Business: GM Cuts Production Shocks Markets
The week saw the stock market plunge the deepest since Kennedy's assassination period, then rise after GM trimmed production and later planned plant reopenings. President Johnson sought inflation advice, with Fed officials urging tax increases or rate tweaks. GM cut back at four of 23 plants amid softer demand.
MENTIONED IN THIS ARTICLE
Sally Ryan
AP Business News
NEW York (Ap
John F. Kennedy
General Motors
Johnson
William McChesney Martin Jr
Federal Reserve Board
Martin
White House
Federal Reserve
Walter W. Heller
Council of Economic Advisers
Heller
U.S. Chamber of Commerce
Washington
Gardner Ackley
Congress
Ackley
John T. Connor
Connor
Treasury
Henry H. Fowler
Fowler
National Association of Purchasing Agents, Inc
General Motors Corp
Grain Futures Slump Despite Possible Wheat Freeze Damage
Prices drop across grain futures as May contract tenders circulate and bullish signals fade. Soybeans lose seven cents in old crop months and 3 to 6 cents in new. wheat and corn down over a cent. rye about 3 cents. A report of possible severe freeze damage to central Great Plains wheat offers a glimmer of bullish hope, but analysts note strong recovery history and caution that crop potential remains uncertain.
MENTIONED IN THIS ARTICLE
Great Plains
Bond Market Rally Driven by Stock Decline and Scarce Money
Bond trading rose as stock markets fell and money tightened. Corporate bonds led activity with gains of 0.5 to 0.75 points. Treasuries moved modestly. municipal prices stayed steady with six new issues and $7.7 million unsold. Analysts cite scarce funds, high federal funds rates around 4 to 5 percent, and big investors shifting to bonds for steady income amid a 50 point weekly stock drop.
MENTIONED IN THIS ARTICLE
Bailey Urban
AP Business News
NEW York (Ap
Treasury
Cleveland
Ohio
Trusts
Pension Funds
Federal Reserve
Wall Street
Dow Jones Industrial Average Edges Down This Week
The Dow closed at 931.95, down from 933.68 last week, as 60 stocks moved in weaker trade. The week ended with the index at 331.8 from 343.8 previously, according to AP Wirephoto.
MENTIONED IN THIS ARTICLE
Dow Jones
Market Dives Before GM News Trims Losses
Market skidded to the largest weekly loss since 1962 with the Dow down 29.85 to 902.83 and the Associated Press average at 331.8. A Friday GM resume of full plants spurred a late rebound, while officials cited tax and inflation talk as drivers of volatility.
MENTIONED IN THIS ARTICLE
Associated Press
New York
General Motors
Dow Jones
Dow
Mutual Funds for All Investors Invented by Goodman
The article explains mutual funds as pools that invest in a broad mix of stocks and bonds, with management quality determining success. It notes shares redeemable at net asset value, with possible sales loads, and warns to compare funds, consider goals like safety or growth, and read terms such as load structures before investing.
MENTIONED IN THIS ARTICLE
Roland Goodman
Moody’s Investors Service
Over Counter Stocks Quoted by NASD
The National Association of Securities Dealers compiles OTC quotations as unofficial estimates of bid and asked price ranges. The NASD notes these figures are approximations and not final market quotes.
MENTIONED IN THIS ARTICLE
National Association of Securities Dealers, Inc
Du Quoin Livestock Market Shows Higher Receipts and Prices
Week ending Friday reports increased hogs at 24.15 up 1.75, sows to 18.50, barrows and gilts 24.75 to 25.50 in lighter weights, with bulls and cattle rising 25 to 1.00 and cattle slaughter steers mainly 28.25 to 29.75, reflecting broader market gains across hogs cattle and sheep.
MENTIONED IN THIS ARTICLE
Albee Homes
Allyn Bacon
Bank of Amer
Clark Oil
Scripps H
New York
SCM Cp
Hess O&c
T&t
Chrysler
Apco Oil
Raytheon
du Quoin
Chicago Livestock Chicago
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Eaton & Brown Television
Carbondale
Llinois
Carton
LBJ
Active
FMAM
Thur
Ed Morse
William McChesney Martin
Sidney B. Lurie
Josepthal & Co
Red Book the
Southern Illinoisan
P. O. Box
Dept
Radio City
I. M. Simon & Co
NEW York Stock Exchange
Charles J. Lerner
John L. Uffelman
Wallace F. Springer, Jr
Curtis F. Downen
West Main Street
Charles Dohanich
Carbondale, Ilinois
Makanda
Iservices
Herrin, Illinois
Member
Federal Deposit Insurance Corporation
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