Opening stocks ease as market retreat deepens
New York prices opened mostly lower with declines led by mining chemical and drug stocks. The Dow slipped to 1,197.32 after 30 minutes while financials rebounded slightly. Investors fear higher U.S. rates as the Fed ends a two day meeting amid hopes for tighter credit and slower money growth. Citicorp and Paine Webber rose modestly as trading listed Tuesday’s 17.02 point Dow drop to 1,198.52 the first close under 1,200 since June 10.
MENTIONED IN THIS ARTICLE
New York
Lorain County grain bids from farm bureau cooperative
Local bids posted by Lorain County Farm Bureau Cooperative Association show Murhel wert Wheat at 317 per bushel Shelled Corn 314 per bushel Mats 165 per bushel Soybeans 608 per bushel.
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County Grain
Lorain County Farm Bureau Cooperative Association, Inc
Chrysler may repay federal loan early says report
DETROIT AP Chrysler Corp plans to announce early repayment of the remaining 800 million in federal guaranteed loans. Lee Iacocca teased a big show at a Washington Press Club speech but would not confirm specifics. A major announcement is anticipated with finance and government officials invited.
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Chrysler Corp
Chrysler
Lee Iacocca
National Press Club
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Los Angeles Times
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Iacocca
Federal Chrysler Loan Guarantee Board
Treasury
Donald T. Regan
Federal Reserve Board
Paul Volcker
Charles A. Bowzher
Treasury Department
Wall Street
UAW
General Motors Corp
Ford Motor Co
Markets slid as Fed rates loom and Volcker testimony nears
U S markets fell on expectations of higher rates as the Federal Reserve Board met in a closed session and prepares for Chairman Paul Volcker to testify to Congress. Dow dropped 17.02 to 1198.52, long bonds fell about $10 per thousand, while OECD warned rates may stay high. Other notes include an approved $500 million annual public works bill, a large wheat harvest, rising auto sales, and Prudential plans to cut about 1700 jobs in a four‑office consolidation.
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U.S
Fed
Federal Reserve
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