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Publication: European Stars and Stripes Sunday, March 18, 1990

You are currently viewing page 20 of: European Stars and Stripes Sunday, March 18, 1990

     European Stars and Stripes (Newspaper) - March 18, 1990, Darmstadt, Hesse                                Page 20 a a the stars and stripes sunday March 18,1990stocks, buoyed by inflation Outlook gain 2.2% new York Dpi a Stock prices bolstered by news of stable inflation last month and buying related to the quarterly expiration of futures and options known As a a triple witching hour a posted a solid gain last week. A the Dow Jones Industrial average surged 45.50 Friday to close at 2741.22, a gain of 57.89 Points or about 2.2 percent on the week. Among the broader Market averages the new York Stock Exchange composite Index Rose 1.74 Points to close the week at 187.92. Standard amp poor a 500-Stock Index gained 3.98 to 341.91. Advances led declines 968-860 among the 2,142 issues traded on the week. Big Board volume totalled 773,233,070 shares compared with 768,924,120 a week earlier and 886,478,190 a year ago. Investors More or less marked time before the economic reports Friday and the expiration of Stock Index futures options on the futures and options on individual stocks that have come to be called a triple witching hour Quot because of the volatility and Sharp increases in volume that they usually pro acc. Tuesdays retail sales report triggered a Retreat in Slock prices. The data was for february but analysts cited an upward revision in january a sales which were High to begin with As dragging prices Down. The news was seen As inflationary and possibly enough to discourage the Federal Reserve from lowering interest rates. A the economic numbers Are starting to be a Little stronger a said Jerome Hinkle trader at Sanford c. Bernstein amp co. A a they be brushed away most fears of a recession in the near  on Friday reports on the Economy were in line with economists expectations but the one that generated the most interest in the Stock Market was the february producer Price report. Producer prices after rising 1.8 percent in january were unchanged in february As a result of declining Energy costs. Analysts said the news relieved Many investors inflation fears. A the news was a Little better than expected a said Dale tills manager of institutional equity trading at Charles Schwab amp co. In san Francisco. A it helped boost the Bond Market and is helping support the Stock Market at these Levels a he said. With the Downs close Friday Well above 2700, tills said some investors May feel it is time for the Market to consolidate its gains. Next week May thus bring a pullback. Morris was the most Active Issue on the week up 1 % to 38 %. Lack Uniss the target of takeover speculation Folly ugh up 1 to 15%. Ism was third up 2% to 108% cd among the other Blue chips at amp to Rose % to 41 \ general motors Rose 1% to 47�?~a, general added 1 % to 64, and Exxon added 1\ to 47�. C elsewhere Norton catapulted 20 to 74% after bar pc a British conglomerate Friday launched an Unsun cited $75-a-share Cash offer for the company the worlds largest abrasives manufacturer in a Deal valued at $1.65 billion. But extra another takeover Candi Date that took itself off the auction Block lost 4% to 25 %. On the american Stock Exchange the Macx Market value Index added 3.03 to close Friday at 364 18 advances led declines 418-365 among the 989 issues traded. Amex volume totalled 70,083,965 shares compared with 76,147,995 traded a week earlier and 68,231 210 traded in the same week a year ago. A a Aadahl led the amex actives off 1 to 14 a. The National association of securities dealers Index Rose 5.40 to end the week at 442.16.despite Toyota recall group wants probe Washington apr Toyota is recalling 1984 corollas and camry manufactured in 1983 and 1984 to replace cruise control computers but a consumer group says an investigation of later models is needed. The National Highway safety administration said Friday that it would study the Washington based Center for Auto safety a request for an investigation of camry Kaiui corollas built Between 1985 and 1988. In a letter to the Agency a office of defects investigation the centers Samuel h. Cole said there had been More than 30 reports of accidents after the cars suddenly accelerated and More than 200 reports of faulty cruise controls. Toyota told the Agency last month that it was recalling 1983-84 camry and 1984 corollas for cruise control computer replacement a move the Center called inadequate. A Toyota Falls far Short of recalling All affected camry and corollas a Cole said. Toyota spokeswoman Debra Sanchez fair said she knew of no complaints about the 1985-88 models and declined to comment on whether an expanded investigation was justified. The a engine revving problem on the 1983 and 1984 models resulted from Long term Wear she said. The recall covering about 120,000 cars was ordered after two complaints were received in Canada. 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