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Newspaper
Tucson Citizen
Location
Tucson, Arizona, United States of America
Date
Oct 17, 1977
Page
5
The Dow Jones industrials slipped about 3. from the prior close while the broader market faced limited buying interest. Analysts noted continued pressure on stocks as investors awaited further guidance, with some gains in select issues offset by broad weakness.
New York trading near midday shows the Dow and other indices slipping amid fears the Fed has drained money supply and tightened credit. Analysts warn administration economic policy lacks a clear long term plan, amplifying investor pessimism across stocks and bonds.
The Business Council, a panel of over 100 corporate chiefs, said the economy should expand 4.3 percent next year to avoid worsening unemployment. They also projected 5 percent growth for this year and urged President Carter to explain his administration's plans.
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