Deficit progress sparks rally on Wall Street
New York stocks surged as signs of deficit progress boosted confidence. The Dow jumped about 2 percent in early trading, with gains led by DuPont, National Semiconductor, Hashburton, and Citicorp as investors welcomed reports of deficit reduction plans and a slower money supply growth.
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Fuel costs push wholesale prices up in February
Wholesale prices rose 0.4 percent in February led by the steepest fuel oil price rise since 1979 and a general energy price increase. February food costs climbed 0.7 percent as weather boosted heating demand while new home construction jumped 1.12 percent to the strongest pace in six years. If trends persist, inflation could quicken, with experts warning of rising costs through 1984.
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Labor Department
Commerce Department
Uditiagitig
Oshor Dotaalbe Usides
Vegeta
U.S
Reagan shifts to tax rises and defense cuts plan
President Reagan, after talks with Senate Republicans, backs a three year deficit package totaling 149.5 billion with 48 billion in revenue increases and 40 billion in defense cuts. Democrats debate bipartisan support as House and Senate panels move to detail a broader 200 billion reduction package.
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Washington
Reagan
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