Opening stocks march ahead on rate hopes and Fed data
The New York stock market extended Thursday's rally as investors weighed signs of slowing economy and a possible rate cut. The Dow rose 9.93 to 1,238.18 in early trading, with gainers outrunning decliners on the NYSE. Strong volume leaders included General Electric Procter and Gamble United Technologies and American Express amid data showing retail sales down 0.8 percent and producer prices down 0.1 percent for August, plus a $2.1 billion drop in money supply reported by the Fed. Egg prices in Ohio cities were listed with various carton sizes and weights.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
General Electric
Procter & Gamble
United Technologies
American Express
Metal prices in New York spot quotes and metals list
AP reports yesterday spot nonferrous metal prices in New York. Copper 57 to 60 cents per pound for US destinations, lead 24 to 28 cents, zinc 48 cents, tin at 4.2215 dollars per pound. Metals Week composite shows aluminum, gold 336.85 per troy ounce, silver 7.05, mercury 3.02 to 5.315 per 76 pound flask, platinum 327 to 8329 dollars per troy ounce for domestic merchant use.
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New York
Lorain County Farm Bureau reports grain bids
Lorain County Farm Bureau Cooperative Association released yesterday's market results with Wheat at 3.16 dollars per bushel Shelled Corn at 317 dollars per bushel Soybeans at 5.67 dollars per bushel Qats at 2.15 dollars per bushel
MENTIONED IN THIS ARTICLE
Lorain County Farm Bureau Cooperative Association
Iny Focal Grain
Kidron Auction Feeder Pigs Strong Amid Hog Market Slump
Kidron consignments held firm Thursday at the auction despite a downtrend in Wayne County Fair Market hogs. Feeder pig numbers rose with prices in the 70 to 80 cent range. calves and cows drifted down, with top dairy cows fetching around 900 dollars and heifers near 840. A large dairy herd of 35 cows, 15 bred heifers, and 35 open heifers will be dispersed Monday Sept 17 at 1 pm. Total head 2711 across 13 consignors. First to fourth cut hay offerings and straw prices listed with varying bale and load prices.
MENTIONED IN THIS ARTICLE
Wayne County
Notal
Six Flags faces charges in fatal New Jersey fire
Chicago based Six Flags Corp braces for possible criminal charges over the May 11 fatal fire at Six Flags Great Adventure in Jackson New Jersey. Ocean County Prosecutor Edward Turnbach will release grand jury findings after an investigation begun June 6. A teen started the blaze with a lighter. the fire spread via air conditioned trailers. Eight teens died. Prosecutor seeks indictments of officials for code enforcement failures and park employees for code violations. Six Flags denies culpability.
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Chicago Tribune
Chicago
Six Flags Corp
New Jersey
Toms River
N.J
Ocean County
Edward J. Turnbach
Turnbach
Jackson
Six Flags
Bally Manufacturing Corp
Auto sales surge as analysts see strong demand in early September
Detroit AP reports six automakers show a 29.7 percent year over year rise for Sept 1-10 with 150,240 cars sold, aided by end of 1984 models and 1985 models entering markets. Analysts cite high inventories and supply shortages, predicting a possible slowdown later, while Ward's notes an 8.2 million annualized rate versus 6.3 million last year.
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Detroit
David Bloom
First Boston Corp
Bloom
Ward
Scott Merris
Shearson Lehman-American Express
Merlis
Ford
Chrysler
Senate approves regional banking expansions and affiliates
The Senate passed a bill 89 to 5 to let states form regional agreements for out-of-state bank branches and authorize bank and thrift subsidiaries to engage in securities. It closes a federal loophole allowing banks to enter nonbank lines. Visa and MasterCard may merge some operations to cut duplication. They plan joint fraud and security development as an initial step.
MENTIONED IN THIS ARTICLE
Washington
Senate
Savings and Loan Associations
New York
Visa
MasterCard
Russell Hogg
Pan Am to Buy 28 Airbus Jets in $1 Billion Order
Pan American World Airways announced a 1 billion deal for 28 Airbus Industrie jetliners to win a bigger slice of the U S market. The order includes 12 A310 widebodies and 16 A320s with deliveries from 1987 to 1990. options for 47 more jets and initial leasing plans expand the arrangement. The move signals Airbus gains against Boeing as a European consortium of France Britain West Germany Spain Holland and Belgium.
MENTIONED IN THIS ARTICLE
Pan American World Airways
Airbus Industrie
Airbus
U.S
Boeing Co
Pan Am
France
Britain
West Germany
Spain
Holland
Belgium
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