Fed cuts rate as economy signals rebound ahead
The Federal Reserve lowered the discount rate by half a point to 8.5 percent, the seventh cut since July, aiming to spur recovery after a weak economy. Bond prices rose and bond yields fell as investors reacted to the move and a mixed stock session.
MENTIONED IN THIS ARTICLE
White House
Federal Reserve Board
Central Bank
Martin Feldstein
Reagan
Council of Economic Advisers
National Press Club
Fed
Federal Reserve
Feds
New York Stock Exchange
Treasury
Commerce Department
Euclid National to open Westlake branch on Detroit Road
Euclid National Bank moves into western suburbs with a 2,350 square foot Westlake branch planned near Detroit and Crocker Roads. TheNorth Olmsted and Rocky River offices already exist, with the new site serving Bay Village Westlake Rocky River and parts of Lorain County as it targets growth in the west side market. The project is slated to open in March or April after about two weeks of construction.
MENTIONED IN THIS ARTICLE
Westlake
Euclid National Bank 15
Cuyahoga County
Detroit and
Crocker Roads
Euclid National
Fran Bardon
Detroit Road
Crocker Road
Bardon
Robert Corna
Corna
Cleveland
Lake Erie
North Olmsted
Rocky River
West 140Th Street
Donna Scarbrough
Bay Village
Lorain County
West Side
Opening stocks rally after Fed rate cut
The stock market staged a broad rally in New York as the Federal Reserve cut its discount rate from 9 to 8 percent. The Dow rose about 19.50 points in early trading to 1,043.78, with Chrysler, General Electric, and Boeing among leaders. Volume reached 63.14 million on the NYSE, the composite index up 1.17, while the AMEX gained 0.93 to 335.30. Monday’s close prices were not available due to wire problems.
MENTIONED IN THIS ARTICLE
New York
Stock Market
Federal Reserve
Fed
Chrysler
General Electric
Boeing
NYSE
American Stock Exchange
Metal prices in New York daily quotes list
AP reports spot prices for nonferrous metals in New York with copper at 71.58 cents per pound, lead 20.423 cents, zinc 36.40 cents, tin 61318 dollars per ton, aluminum 76 cents, gold 438.75 per troy ounce, silver 10.380 per troy ounce, mercury 3.65 per flask, and platinum 372.00 per troy ounce, Handy and Harman providing the daily quote.
MENTIONED IN THIS ARTICLE
New York
Handy & Harman
Creston Livestock Auction Sees 361 Consignors Sell 1060 Head
Creston livestock auction drew 361 consignors selling 1060 head Monday. Dairy cows brought 435 to 455 dollars. two goats sold at 18 to 20. Calves ranged 40 to 82 for bull calves and 42 to 57 for heifers. hogs, sheep, cattle and bulls moved across multiple price bands with Holsteins and beef cows among notable lots.
MENTIONED IN THIS ARTICLE
Creston
Egg price report from Ohio markets and Midwest bids
AP report from Columbus notes egg and dairy product prices in major Ohio cities. Class 1 large eggs price 45, Class 2 large 43, mediums 39, smalls 29. Wholesale buying prices mixed. Cincinnati 38 43, Cleveland 38 4275. Local grain bids show Wheat 302 per bushel, Shelled corn 216, Oats 165, Soybeans 548. Lorain County Farm Bureau Cooperative Association involved.
MENTIONED IN THIS ARTICLE
Columbus
Ohio Cities
Chicago
Midwest
Lorain County Farm Bureau Cooperative Association
Bank and S&L rates dip on six month money market notes
In Washington AP reports six month money market certificates will pay less today than a week ago. Short term Treasury yields rose slightly on a $58 billion three month bill sale, while six month bills dipped to 82.05 percent from 82.54 percent. the auctions reflect mixed results. The Soviet grain outlook for 1982 83 shows imports near 35 million metric tons, down from prior forecasts, with a 180 million ton harvest.
MENTIONED IN THIS ARTICLE
Washington
Savings and Loan
Treasury
Soviet Union
Agriculture Department
USDA
Moscow
Also Mentioned on This Page
William C. Deak
Karen Kramer
Elyria Area
Novak Road
Bob Baiilie
The
Associated Press
Euclid National Plans
Fdison Mill
Parker Hannifin
Pierre R Smith Co
Ite Searle
G D
Acme Cleve Smucker
AmerMachFndry
Southern Co
AmerShip Building
Sybron
American Standard
Texas Athilles
Bendix
Chromalloy Bry
Toledo Edison Cities Service
Union Pacific Corp
Woolworth
Elec It
CPC Inter Inc
Emerson
Goodrich
TC Industries
Lear Siegler
Mid Continent
Midland
Ress
National Gypsum
Mutuals
Perthcal
Zforl
SilionGen
Ldpe
Forl
2KamerCar
Horspill
Ular AroCp
BrenndPage
HastelMyrs
Val ‘CanalRandlph
CairyndeCrat
Creston Livestock
Eastman Kodak
Plaza
Wrae
Wqal FM
Cincinnati
Strongsville Savings
Strongsville Savings New Money Market
Wrongsville Sravings and Loan Association
Pearl Road
Strongsville
Ohio
Hinckisy
Berea
Center Road
Bagley Road
North Royalton
Medina Ohio
Ridge Road
NethCaatt Squanay R Md
Wellington
Jos Sath Ya Se
Bow
Simmer Beer
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