European Stars and Stripes (Newspaper) - September 2, 1990, Darmstadt, Hesse Page 16 a a the stars and stripes sunday september 2,1990market Breaks 6-week losing Streak new York up a the Stock Market broke a 6-week losing Streak last week. Gains were fuelled by a plunge in Oil prices As tensions in the Mideast seemed to ease and open agreed to boost output during the crisis. The Dow Jones Industrial average Rose 21.04 Friday to end the week at 2614.36. It gained 81.44 for the week or 3.2 percent. Among broader Market indexes Standard amp poor a 500-Stock Index jumped 11.05 to end the week at 322.56 and the new York Stock Exchange composite Index Rose 5.92 to close the week at 176.93. Advances led declines 1,433-507 among the 2,154 nose issues traded last week. Weekly big Board volume totalled 639,340,540 shares compared with 949,523,020 a week earlier and 757,529,410 shares a year ago. Stocks began the week with their Best Day of 1990 and their biggest gain in almost a year. Mondays rally was fuelled by fading fears of War in the Mideast and a resulting Tumble in Oil prices. The Dow soared 78.71, the biggest gain of the year and the Best since a surge of 88.12 posted last oct. 16, when the Market bounced Back from the 190-Point a mini crash the previous trading Day. Analysts called the Sharp gain a a reflex action after the markets plunge since Iraq invaded Kuwait on aug. 2. The Dow industrials had lost More than 415 Points a about 14 percent of their value a since the invasion before rallying Friday and monday. After mondays surge trading lightened considerably for the rest of the week As investors began to look toward the Holiday weekend. Analysts generally agreed the previous week that with its plunge the Market had discounted a Mideast War. Fears of War faded last week As the . Secretary general held talks with iraqis foreign minister. On the trading floor last week Philip Morris was the most Active Issue up 1 % to 45 %. Wal Mart followed up los to 28 /2. Texas utilities was third off % to 33%. Among the other Blue chips at amp to Rose i to 32%, ism gained 1 % to 101 Boeing jumped 2% to 48%, general motors added 2% to 39% and Exxon gained 1 % to 50, even As Oil prices fell sharply last week. On the american Stock Exchange the amex Market. A Friday a Vances led declines 568-273 among the 996 issues traded. Value Index added 7.10 to close Friday at 323.39. And amex volume totalled 58,692,010 shares compared with 93,796,575 traded a week earlier and 69,118,290 traded in the same week a year ago. Paine Webber Scall warrants on the Tokyo markets nikkei Index led the amex actives off % to 7 %. The National association of securities dealers composite Index jumped 13.88 to end the week at 381.21. Banks Clearing checks quicker Washington apr since saturday Bank customers Are being guaranteed quicker Access to their deposits under the last instalment of a 3-year-old Law that the banking Industry wants to change. At Issue is the expected funds availability act legislation passed by Congress in 1987 to prevent Banks from imposing lengthy delays before cd omers were allowed Access to deposited funds. Banks Are now required to meet the following Shorter time limits for making funds available on deposited checks local checks must be cleared by the Bank in two business Days Down from three business Days. No local checks must be cleared in five business Days Down from seven business Days. The previous three Day and seven Day limits had been in effect for the past two years and were instituted As interim standards to give Banks time to pre pare for the More stringent final regulations. Many Banks had already been processing checks in the Shorter time periods. In addition to changes affecting regular checks Money deposited in the form of Cashiers checks certified checks and government checks must be available to depositors by 9 . The next business Day. This is not a change from the interim rules. The Law was passed after a Long lobbying Campaign in which consumer groups presented examples of Banks freezing funds for As Long As two or three weeks a practice Banks referred to As putting a a a hold on deposited checks. However banking groups have been lobbying Congress to make changes in the Law. 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