Short rate rise scares stock funds and investors
Fresh on the strongest month for stock mutual funds, the industry faces rising short term rates. In April stock funds drew 11.6 billion, May inflows ease, while money funds attract cash as rates edge up. Investors weigh whether equity and bond funds remain attractive versus safer money funds.
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Washington
Investment Company Institute
Fidelity Investments
Ple
Benham Group of Mutual Funds
Mountain View
Calif
Seth Bernstein
Benham
Treasury
Money Funds
Robert Schmidt
Dreyfus Service Corp
Money Fund
Dollar Falls to Record Low as Gold Rises
The dollar dropped to a historic low against the yen slipping under 110 as consumer sentiment soured and gold surged with a $4.60 gain on the New York Commodities Exchange to $378.50 per ounce. bullion quoted at $379, up $5.25. yen momentum followed remarks by Commerce Secretary Ron Brown and Clinton administration concerns over the U.S. trade deficit with Japan.
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New York
U.S
Commodity Exchange
Republic National Bank
Brian Dolan
Dai- Ichi Kangyo Bank Ltd
Commerce
Ron Brown
Clinton
America
Japan
Western Steel buyer Republic Engineered Steels profits rise
Elyria based Republic Engineered Steels Inc reports third quarter income of 11.89 million, doubling the second quarter and up 70 percent from a year ago as sales reach 171.09 million and shipments rise to 349565 tons. CEO Maier says steel market improving but notes one quarter does not make a trend. Environmental concerns hindered the potential purchase of Western Steel’s Waverly Street plant.
MENTIONED IN THIS ARTICLE
Elyria
Western Steel Group Inc
Republic Engineered Steels Inc
Massillon
Nues
Maier
Western Steel
Waverly Street
Republic
New York Metal Prices Close on Gamex and Merc
Closing values show GOLD at 379.90 per troy ounce and SILVER at 4535 per troy ounce on Gamex. Platinum 380.90, Palladium 118.25 per ounce on Merc. Nonferrous spot readings include ALUMINUM 50.6 cents per pound, COPPER 9.940 cents, LEAD 32 cents, ZINC 47-50 cents, TIN 363.12 per pound, Mercury 205.82 per 76-pound flask.
MENTIONED IN THIS ARTICLE
New York
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Legal Aid Society of Lorain County Inc
Elyria Savings & Trust National Bank
German
Vermilion
Republic Engineered Steels
Russell W. Maier
Harold Kelly
Ree Ben Oes
ATM
FDIC
HomeShay Te
Fiera
R. Smith Co
Allied Corporation
Kmart
Alltel
Pam
Asara
CaBancom Inc
Awrich Tol
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Fe Lette AS
Baer Va Cpc Inter. Inc
Limote
Emerson
Ahge
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Englehard
First
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Sia Fete
Ford
General Motors
Goodrich
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MLS
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LNB Bancorp
Vo Lasco Inc
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Mid-Am. Inc
Nordson
Northam
Ohio Edison
P.N.C
Parker Hannifin
Smuckers
Sjima
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Sunrise Medical
Texas Utilities
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T.R.W
Ya Temco
aPont
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Nicholas E Badge
Bada
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Midway Mail
C-T
American Whs! Mutual
NL Fidelity-Puritan Ash
National Bound
Pleton
Templeton-Wor
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Wallington
Lorain County Farm Burau Cooperative Association, Inc
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