Market Opens Up After Slide On Economic Hope
New York stocks rose in early trading as investors paced gains after an encouraging economic report and a forecast of falling interest rates. The Dow Jones industrial average advanced about 6 points from a dip, with advances beating declines by roughly 4 to 3 in the first half hour of trading. Treasury Secretary Regan said the administration backs the Fed’s cautious approach to slow money growth, aiming for rates supportive of steady growth.
MENTIONED IN THIS ARTICLE
New York
Treasury
Donald Regan
Joint Economic Committee of Coursees
Fed
Local Egg and Butter Prices Reported in Columbus
AP dispatch notes egg and butter sales to retailers in Columbus with carton sizes and price ranges. Fresh quotes include hens at Obie farms with flock numbers around six hundred sixty to seven hundred and trucklot prices to Cincinnati and Cleveland.
MENTIONED IN THIS ARTICLE
Columbus
Cincinnati
Cleveland
Metal prices New York AP spot nonferrous metals
AP reports yesterday spot prices for nonferrous metals in New York. Copper at 83 cents a pound delivered. lead 19.23 cents. zinc 40 cents. tin 364883. aluminum 76 cents per 4 pounds. Gold 422.40 per troy ounce. silver 11.950. mercury 275 to 285 per 76 pound flask. platinum 427 to 434 per troy ounce.
MENTIONED IN THIS ARTICLE
New York
Handy & Harman
Grain market closes with varied prices in Lorain County
The Lorain County Farm Bureau Cooperative Association reported yesterday’s grain market closing with Wheat at 334 per bushel, Shelled Corn at 310 per bushel, Soybeans at 660 per bushel, and a misread figure at 189 per bushel for oats or similar.
MENTIONED IN THIS ARTICLE
Lorain County Farm Bureau Cooperative Association
Business briefs from Cleveland area companies and figures
TRW Inc reports net earnings of 53.2 million for the June quarter, down 14 percent from last year while first half 1983 sales total 2.79 billion, up 4 percent. Sherwin Williams posts 22.8 million second quarter earnings, up 26.4 percent, with paint stores profits up and drug stores down. Midlands Raceway earnings dip to 0.924 million. aerospace up, electrical down.
MENTIONED IN THIS ARTICLE
Associated Press
Cleveland
TRW_ Inc
TRW
Sherwin- Williams
OPEC keeps price and production unchanged
OPEC official Ahmed Zaki Yamani announced in Finland that the cartel would not alter price or output levels, keeping the 17.5 million barrels daily production and the $29 per barrel benchmark after the March accord amid market stability. The report also notes bond yields rising to 9.62 percent on six month money market certificates and a dollar weakening against major currencies.
MENTIONED IN THIS ARTICLE
Associated Press
Sheik Ahmed Zaki Yamani
Finland
Organization of Petroleum Exporting Countries
Savings and Loan Associations
London
OPEC
Bundesbank
West Germany
U.S
Elyria Savings & Trust reports 41 percent earnings rise
Elyria Savings & Trust National Bank posts a 41 percent rise in first-half 1983 earnings from 1982. Net income climbs from 1.13 million to 1.59 million. per share up from 2.50 to 3.52. Assets top 302 million. President Fitch credits asset management, favorable investments, and cost control.
MENTIONED IN THIS ARTICLE
Elyria
Elyria Savings & Trust National Bank
BR. Fitch
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