Wall Street slides as Fed forecast hints weak recovery
A Federal Reserve forecast projected only scant economic recovery and unemployment staying high next year, weighing on stocks. The Dow fell 15.36 to 990.99 as bond prices rose on anticipated weak growth. Treasury rates hit a two year low and productivity grew 4 percent in Q3 while jobless benefits topped 4.6 million. Autoworker layoffs rose to 247,767 amid sluggish auto sales, and money-market funds reached a record $229.94 billion.
MENTIONED IN THIS ARTICLE
Federal Reserve
Wall Street
Treasury Department
Labor Department
Eis Ience
U.S
Investment Company Institute
Exhibits Highlight Meeting at Agway Annual Show
Agway Inc held its annual meeting in Syracuse with over 5000 cooperative members touring the farm show at Onondaga County War Memorial. Exhibits ranged beyond livestock to puppies, kittens, a 6 foot tall two legged shaggy dog, industrial farm booths, home wares, and a solar powered hot water heater display. The Hoodwiches cookie ice cream sandwich from HP was introduced as a test market fruit of the dairy unit.
MENTIONED IN THIS ARTICLE
Winnie Don
Onondaga County
John Memorial
Agway
Fayetteville
Agway Inc
Ay’s Dairy
Hoode Farm Show
Dollar climbs to record francs and lire in Europe
The U S dollar rose to 7 2510 French francs in Paris and 1 461 25 Italian lire in Milan as markets cited expectations that U S rates would stay steady before Tuesday elections. It later cooled in Tokyo and London with mixed gains in other currencies while gold prices firmed in London Zurich and New York.
MENTIONED IN THIS ARTICLE
U.S
London
Zurich
New York
Paris
Milan
Tokyo
U.S. Treasury
Donald Regan
United States
Europe
Tradt
Farm sector adopts conservative strategy amid 1980s financial stress
A report from the Agriculture Department warns that U S farmers face continued financial trouble through 1983 as the sector shifts to a conservative financing approach. High real interest rates, weak crop prices, and cash flow pressures persist while land values rise more slowly and debt repayment remains challenging.
MENTIONED IN THIS ARTICLE
Agriculture Department
Ture Tt
Carrols Corp Announces Stock Split and Dividend Hike
Syracuse based Carrolls Development Corp. reveals a three for two stock split and an increase in annual cash dividend from 9 to 11 cents per share. Shareholders heard the news at the Syracuse Marriott Inn as Slotnick noted potential acquisitions, changes in operations, and ongoing earnings growth from Burger King franchises and the food distribution unit.
MENTIONED IN THIS ARTICLE
Carrols Development Corp
Syracuse
Carroll
Burger Kings
Burger King
United States
Slotnick
Carrols Motion Picture
Economist predicts housing market upswing in 1983
Washington economist George Christie forecast a durable housing led recovery in 1983 with overall construction spending at 167.5 billion, up from 149.1 billion. Residential activity may rise 38 percent to 80.1 billion while nonresidential contracts dip to 54.1 billion. broad commercial rebound unlikely before late 1983.
MENTIONED IN THIS ARTICLE
Washington
UPI
George Christie
Christie
Building Products Executives Conference
McGraw- Hill Information Systems Co
Federal Reserve
Fed
Also Mentioned on This Page
Joseph A. Porcello
Help Wanted
Roger
Hazel Welch
Turnbridge
Oetae
Handy & Harman
Hong Kong
Treasury
Burlington Industries
Greyhound
Chrysler
Pan Am
Texaco
International Harvester
Harvester
Ae le. Ians
Farmers
Farmers Home
Carrols Corp
Economist
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