Opening New York stocks slips as rate outlook clouds
The Dow Jones average fell 3.10 to 1274.62 in early trading as market breadth favored decliners. Investors cited a mixed economic picture with a January purchasing managers index showing improved orders and production, while expectations for further Fed credit easing waned.
MENTIONED IN THIS ARTICLE
New York
National Association of Purchasing Management
Wall Street
Federal Reserve
American Telephone & Telegraph
American Express
MCA
Citicorp
Dow Jones
NYSE
American Stock Exchange
New construction up in December and 1984 gains
Spending on new construction rose 0.9 percent in December and climbed 19 percent for all of 1984 to 3119 billion, the Commerce Department reported. Private sector activity led the rise with a 21 percent gain to 2562 billion, while housing and nonresidential sectors posted solid gains. Analysts expect 1985 improvement as inflation stays in check and rates move cautiously.
MENTIONED IN THIS ARTICLE
Washington (Ap
Commerce Department
Michael Sumichrast
National Association of Home Builders
Saving shriveled at year end in December report
Washington AP reports savers deposited four billion dollars more in savings and loan associations than they withdrew in December, marking a sharp slowdown from November's seven point three billion. Interest payments rose to three point nine billion, aided by quarter end credits. Mortgage activity increased with loans closed totaling one hundred thirty three billion, up fourteen percent from November. Large denomination certificates of a hundred thousand dollars stood at eleven point two billion, similar to November.
MENTIONED IN THIS ARTICLE
Washington
Savings and Loan
Federal Home Loan Bank
Software makers fight noise level in crowded market
In Cincinnati AP report industry officials say software sellers pay higher prices to gain visibility as marketing costs surge from 25 million to 5 million and more annually. Market supply exceeds demand, prices fall, risking firm closures while retailers focus on top brands for training and sales.
MENTIONED IN THIS ARTICLE
Cincinnati
Susan Luster
Power Base Systems
New York
Millon
Luster
Richard Horn
Comware Inc
Small firms face fewer failures say Congress survey
Chicago Tribune reports congressmen expect fewer small businesses to falter next year with high tech and service sectors to lead growth over three years. Manufacturing is viewed as crucial to economy health while nearly half anticipate a major recession. SBA cited as most responsive agency to small business owners amid debate on abolishing SBA.
MENTIONED IN THIS ARTICLE
Igh
Congress
Touche Ross & Co
US Small Business Administration
SBA
Congressional
AT&T replaces Centel credit cards for customers
AT&T will mail its credit cards to Central Telephone Co customers using Centel issued cards. Central spokesman Pat Haramia says the AT&T cards replace Centel ones, aligning with AT&T long distance lines. The report also covers a separate survey of 83 Congress members on small business views and policy protections.
MENTIONED IN THIS ARTICLE
At&t
Centel
Lorain
Central Telephone Co
Central
Pat Haramia
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