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Publication: European Stars and Stripes Sunday, June 10, 1990

You are currently viewing page 20 of: European Stars and Stripes Sunday, June 10, 1990

     European Stars and Stripes (Newspaper) - June 10, 1990, Darmstadt, Hesse                                Page 20 a a the stars and stripes sunday june 10,1990 Dow drops 38 Points As profit taking begins new York up a the Stock Market suffered its first Down week since before the May rally got under Way As investors began taking accumulated profits last week. The Dow Jones Industrial average tumbled 34.95 Points Friday to close at 2862.38, yielding a loss of 38.56 Points or 1.3 percent on the week. Its last weekly loss came in the week of april 23. Broad Market indexes were lower. Standard amp poor a 500-Stock Index fell 4.45 to 358.71 and the new York Stock Exchange composite Index lost 1.98 Points to close the week at 196.05. Declines led advances 959-927 among the 2,184 issues traded. Big Board volume totalled 841,668,174 shares compared with 690,533,470 a week earlier and 950,677,220 a year ago. Prices fought off the blahs in Early going monday to stage a late rally and Send the Dow Industrial average to a record High of 2935.19 and its first close significantly above the 2900 level. At 2935.19, the Dow industrials were within striking distance of the 3000 Mark. But that was As close As they got last week. After monday investors decided the Market had come far enough and took profits. The Dow closed lower in each of the next four sessions culminating with the 35-Point loss Friday the sharpest loss since feb. 20, when it fell 38.74. Analysts were not disturbed by the decline however calling it a Normal follow up to the May rally. Dennis Jarrett chief Market strategist at Kidder Peabody amp co., explained that 2800 was the level from which the Dow broke out of its nine month trading Range and said it would be very natural to retest it. A such a move would present us with an oversold condition from which to launch toward 3000,�?� he  funds a i consider it overdue at this Point and very constructive not a disaster at All especially As we were up More than 80 Points last  Philip Morris was the most Active Issue on the big Board last week up t to 44 a. Ism followed Down % to 118%. . Gear was third up a to 30% after plunging the previous week when the company said it expected earnings for the Quarter ended May 31 to be just slightly More than half what they were a year ago. Among Blue chips at amp to lost 1% to 42, american express Rose 1 to 30% and general motors fell 1 % to 48 i. Eastman Kodak Rose 2 a a to 41 a in a i a in psf attract to Erum after id on the american Stock Exchange the am u t value Index fell 2.66 to close Friday at 36 Vances and declines were even 405-405 t 1,009 issues traded. A no the amex volume totalled 62,771,620 share with 58,257,135 traded a week earlier and v2ros traded in the same week a year ago z/yi635 4ywang labs class b led the amex actives up i/4 j Toyota loses $5.37 million suit Torrance Calif. Up a a Superior court jury awarded a $5.37 million judgment Friday against Toyota motor  . Subsidiary saying that the design of the japanese automakers four wheel drive sr5 truck was inherently unstable. The verdict was one of the largest such penalties Ever posted against Toyota the los Angeles times reported. Most of the jury a award was to go to Cynthia Gosper 35, of Garden Grove. Her neck was shattered when the Toyota sr5 truck she was driving during a 1984 family vacation in Arizona rolled Over after being rear ended. The jury concluded that there was a defect in the trucks design that caused it to topple out of control from the paved Highway and that caused the Drivers Side door to pop open throwing Gosper from the truck. The woman is now a quadriplegic. A this certainly is precedent setting. There a no doubt about that a Raymond p. Johnson one of gown. Or s attorney told the times. A we done to know of any other similar verdict in the  j attorneys for Toyota said they will Appeal the Deci Sion insisting that the truck is stable and Safe Quot the Saddest part on behalf of Toyota is that we were unable to communicate adequately to the jury the Utility and truly Safe nature of this four wheel drive vehicle said Toyota attorney Brian Eyres. A during the trial Toyota argued that the Force of the rear end collision caused the truck to Roll Over. Toyota contended that rocks and vegetation could have knocked open the door Latch As the truck tumbled. Statistics from the Federal fatal Accident reporting system for the 1984-through-1986 Model years of Toyota trucks show that 30 of the trucks 35 fatal accidents involved rollovers. 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