Wall Street ends August with rally as rates seen peaking
The Dow gained 30.58 points for the week after Arthur Burns signaled no Fed shift and possible long term bond purchases. Analysts expect inflation to ease and rates to fall, noting prior heavy borrowing before the Labor Day holiday. week closed with a dull August surge.
MENTIONED IN THIS ARTICLE
Frank W. Slusser
UPI
Welter New York
Arthur F. Burns
Federal Reserve Board
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Dow Jones
Standard & Poor
Market ends August with broad losses amid inflation and oil doubt
The week shows gains for the Dow and NYSE index though August remains weak for most averages. Turnover dips to 63.7 million shares with August volume near 281.4 million as analysts note inflation and energy policy weigh on sentiment. Analyst commentary references Greenspan Morton and potential oil price control extensions amid city finances and global peace hopes.
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