Markets Open Mixed as Dow Dips on Rate Hopes
Trading started with the Dow Jones Industrial Average down about 145 points to 1,222 in the first half hour as investors awaited the Federal Reserve report on the money supply. NYSE leaders showed gains and losses, with rising rates in credit markets weighing on sentiment after a brief weekly rally. Major movers included Mesa Petroleum down about 4 percent, Johnson & Johnson lower, Citicorp steady, and Texas Utilities higher as early volume leaders.
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Canadian UAW seeks early contract talks with Chrysler
Canadian bargaining committee chairman Ken Gerard of Local 444 Windsor Ontario asked Chrysler Canada for an exploratory meeting in July. The UAW says contracts in the U.S. and Canada expire January 14 next year after a previous 45 day strike by Canadian workers.
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United Auto Workers Union
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Oil group predicts continued drop in U S oil use in 1983
An Independent Petroleum Association panel in Seattle forecast U S oil consumption will fall 0.6 percent in 1983, offset by conservation and fuel-switching as the economy recovers. Despite the decline, overall energy use may rise 0.4 percent for the first time since 1979.
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United States
Independent Petroleum Association of American
Seattle
U.S
Ward
Automotive Reports
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