New York Stock Exchange closes higher as Dow tops 900
The Dow Jones industrial average rises 7.57 to 901.29 marking its first close above 900 since August 23. Analysts call the rally a technical snapback amid a renewed, modest market advance after a three week decline. Volume reaches 8.84 million shares.
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Stocks Rally Amid Inflation Fireworks and Short Covering
U.S. stocks stage a broad rally led by industrials and auto shares as short covering and fund activity lift the market. Markets hinge on Chrysler, Ethyl, and various techs while volume nears 3.85 million shares as traders weigh inflation pressures and union action.
Chrysler To Raise Car Prices For 1968 Models
Chrysler announced price increases for its 1968 Dodge line after revealing 23 models at a news preview in Chicago. Chairman Lyon Townsend cited rising materials and labor costs and added safety-device provisions as factors, noting negotiations with the UAW would not alter the planned hikes. Dodge offerings include Dart, Charger, Coronet, Monaco, and Polara with styling updates and larger dimensions for several models.
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