European Stars and Stripes (Newspaper) - January 07, 1990, Darmstadt, Hesse                                Page 20 the stars and stripes sunday. January 7,1990 investor s guide by Bill Doyle q. In reply to married couple who give $2,400 Worth of Slock to their Church and who do not plan to claim it As a charitable deduction you wrote that they do not even we to report the gift on their in come tax return. You added Yon do not understand Why they will not take the deduction which could re Duce their in come tax. Well if that couple has no other deductions to itemize they should not take that charitable deduction. The $5,200 Stan Dard Deduc Tion is greater. Right Doyle a. Absolutely Correct if itemized deductions do not exceed the Stan Dard deduction. But it would be a most unusual family financial Situa Tion in which a married couple with itemized deductions of $5,200 or less could afford to make a $2,400 charitable contribution. For the 1989 Federal income lax mums we All must file by april is. The Standard deduction has been indexed increased to reflect inflation to $5,200 for married couples filing joint returns and surviving spouses to $4,550 for Heads of households to $3,100 for unmarried individuals other than surviving spouses and Heads of households and to $2.600 for married individuals tiling separate returns. C King a sturts Market off to modest gain in 1990 despite economic political concerns new York up the Stock mar Ket opened the 1990s by surging to a record High in the Dow industrials but followed up the dramatic Rise with three Days of losses sparked by economic and political concerns. The Dow Jones Industrial average fell 22.83 Friday to close at 2773.25 for a modest gain of 20.05 Points on the week or about 0.7 percent. Among the broader Market averages the new York Stock Exchange composite Index lost 0.40 Points to close the week at 194.64. Standard & poor s 500-Stock Index dropped 1.20 to 352.20. Advances led declines 1,131-765 among the 2,124 issues traded last week. Big Board volume totalled 690,074,430 shares compared with 485,318,120 a week earlier and 613,615.280 a year ago. After the new year s Holiday investors returned to Wall Street and sent the Dow industrials soaring to a record High. The key Blue Chip indicator surged 56.95 tuesday to 2810.15, breaking the record close of 2791.41 set oct. 9. Analysts attributed me Rise to a combination of the january effect in which institutions snap up stocks that have taken a beating from year end sell ing to realize losses for tax purposes and a favourable economic report. The Survey of the National association of purchasing management a widely watched piece of economic data showed an Economy on an even keel in december but avoiding recession sparking Hopes the Federal Reserve would Cut interest Rales to pump up growth. The Market spent the next two ses Sions consolidating the gains and taking some profits while waiting for the government s first report on last month s Economy the employment figures. News on that front was not As Good showing the creation of far fewer new jobs than had been expected in Decem Ber and making investors wonder if their renewed Confidence in the Economy was Well founded. In addition the Market was shaken by reports that soviet Leader Mikhail Gorbachev had cancelled meetings with for eign leaders to attend to crises at Home such As the political unrest in Lithuania. Prices fell More than 20 Points Friday on fears Gorbachev s political future May be in jeopardy. People were spooked by Gorbachev s troubles at Home said Don Hays director of investment strategy at wheat first securities inc. In Richmond a. Just thinking that Gorbachev might be in unstable territory is enough to make peo ple  the Retreat Friday could not eclipse the Market s unexpected zoom tuesday to a record High however and analysts were optimistic about the Market s prospects. It took me by Shock said Michael Metz. Market analyst with Oppenheimer and co. It foreshadows the Market s direction Over the next few months though which should be up. What troubled me about it was the compression sudden Rise in the last hour of trading tuesday. I d rather see an orderly deliberate move Metz said. Metz said the Dollar s weakness earlier last week also was disturbing noting that a very weak Dollar would not give the Federal Reserve much flexibility to lower interest rates which would Only make the Dollar less attractive. But my guess is that it s temporary he said. The Dollar was stronger in late trading in new York Friday. On the trading floor last week Hanson pc was the most Active nose Issue up i to 9vi. Philip Morris followed up a to 42mi. Ism was third up5tt to 99%. Among the other Blue chips at to fell a to 44%, general electric Rose 1 to 65 i Exxon lost / to 48v. And Eastman Kodak Rose 1v. To 42%. The big three automakers showed gains after sales reports the previous week were seen As showing the Industry s slump had bottomed out. General motors Rose i /4 to 43 a Ford gained 1 / to 44 a and Chrysler Rose / to 19v. Computer issues gained As the improved economic Outlook Early in the week buoyed so called cyclical issues. Uniss Rose i to 5vi, Compaq jumped 4� to 84% and digital surged 4 % to 86 /. On the american Stock Exchange the Macx Market value Index Rose 4.45 to close Friday at 382.45. Advances led de Clines 520-273 among the 971 issues traded. Macx volume totalled 53,640,240 shares compared with 50.763,130 traded a week earlier and 38,915,855 traded in the same week a year ago. Home shopping network led the Macx actives up i a to 8 i. 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