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Publication: European Stars and Stripes Sunday, May 12, 1991

You are currently viewing page 17 of: European Stars and Stripes Sunday, May 12, 1991

    European Stars and Stripes (Newspaper) - May 12, 1991, Darmstadt, Hesse                                Sunday May 12, 1991. The stars and stripes Page 17mixed week leaves Market with Small loss new York up heavy crosscurrents in the Stock Market last week first pushed stocks Forward and then backward leaving the Market with a Small loss. The Federal governments quarterly refunding and lower jobless claims provided some Good news while the declining Money Supply concern Over president Bush a health and the troubled first capital life insurance co. Provided bad news. The bad news eventually overwhelmed the Good. ,. The Market went up three Days and Down two. Monday and wednesday the Market had moderate gains and a big Advance thursday. However Large losses tuesday and Friday eliminated All the gains. The Dow Jones Industrial average plunged. 50.98 Friday to end the week at 2920.17 for the week the Dow fell 18.69, or less than 1 percent. A broader Market indexes like the Newyork Stock Exchange composite Index and Standard amp poor a 500 Index also declined. A amp pcs 500-Stock Index dropped 5,06 to end the week at 375.74, and. The nose composite Index dropped 2.53 to end the week at 205.87. Declines led advances 1,003-912 among the 2,229 nose issues traded this week weekly big Board volume totalled 971,612,310 compared with 1, 063,740,230 the prior week arid with 987,629,814 a year ago. The Market worried about president Bush a health managed a Small gain of 2.78 in Light trading monday. Traders were restrained because of holidays in overseas trading and a quarterly Treasury  five straight winning sessions the Dow suffered a 24.15-Point loss tuesday. Traders pointed to the Federal governments quarterly auction of three year notes where demand was Good but not great. The Market rebounded wednesday but without con-1 fiction. The Dow advanced 13.41 due to Strong demand for the Treasury s auction of 10-year notes. However most investors lacked enthusiasm analysts said. When the governments refunding ended thursday the Market relaxed und advanced 40.25. A wave of program trading also helped push the Market ahead. A worried Market fell heavily Friday declining 50.98. Analysts blamed the decline on concern Over first Gap ital of Sacramento calif., a drop in the Treasury Bond Market a new Supply of securities coming onto the Market and technical  a in january we had a homogeneous rally All the stocks Merit up but now we re seeing crosscurrents a Sard Paul Kronlokken technical analyst for Piper. Jaf fray and Hopwood in Minneapolis. A. After the Market crested in april there was heavy profit taking. A some stocks had. Pulled Back to Ideal buying Points a a Kronlokken added. Other stocks did no to look As attractive. Investors buy some stocks and sell others. A so the Market goes up 20 or 30 Points and then goes Down 20 or 30 Points a a he continued. A a it a backing and filling a consolidation of  said this will stabilize the markets Overall gains which is better than a too rapid Advance. Quot its like climbing to the top of the ladder. You go up too High and you get dizzy a Kronlokken said. Hugh Johnson chief economist for the first Albany corp. In Albany n.y., Felt conflicting forces this week pulled the Market in different directions. A the principal focus was on the three quarterly refunding a Johnson said. A a if it looked like the auction was going Well the mar Ket did Well if it looked like the auction went poorly so did the Market a he said later in the week the Market advanced after the jobless claims declined and then fell when the Money sup 7 ply dropped a Johnson said. A if there is a turn in the Economy it s not inspiring and Clear and the markets. Reflect  Larry Wachtel. Market analyst for Prudential securities inc., said a the whole week was coloured by therond  reception Wasny to Good for the three year notes better  for the 10-Ycar and not too Well for the 30-Ycar.�?o a a the Market lacks any Cleat Cut focus Quot Wachtel added. Quot to can be topped around by any  on the trading floor this week american express was the most Active dropping a to 237a, american express Shearson Lehman Brothers unit is the largest seller of first capita life insurance co., the ailing California insurance firm. Blockbuster entertainment was second off 1 to 9, Rwjr Nabisco was the third most Active up w toll it. Occidental Petroleum which agreed to sell a half incr est in its natural Gas liquids business was the fourth most Active up 2vi to 21. At amp to which reached an agreement to buy nor corp. For $7.4 billion was the fifth most Active Stock Down 1 a to 35%.a ism corp., which will have 14, of its Headquarters employees Lake mandated vacations during the july 4th week was also Active Down a to 103mt. On the american Stock Exchange the Macx Market value Index dropped 2.34 to close Friday at364,02, up 0.46 for the week. Declines led advances 448-369 among the 1,007 issues traded for the  funds from Page 16 a ibid x .10.22 10.70�? .05 so Cut x 14.12 14.79�? .21 Lamsus 22 11 2291 .19 Passig 26 76 26.32�? .42 put in go a 9.67 10.15 .06 Foft it it tiny 10 63 11,13 Pax old 15 38 my .07 Pelican it 9.96,. 9.96�? .14 a a rent so p 9.95 10.45�?.14 Penn Mur 7.08 -7.08 .03per Mart 15.48 Nln .08 is it Mobil 64 08 no. Is mtg 10.55 no ,12 Pluma 5.83 no .06 Phoenix series Baian a. 1 5.48 16.25�? .21 Capa. 15 88 16.67 .20ft ft1 fac Mfd it 18.54 19,46. Or wifi 21,94 $3.03�? .30 p equal 9.04 9.49 .01 p c Hyld it Quot 7 31 7.67 .01 it. 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Mod i Midch we Trad Wim Usami a Wood Struthers it new 12 51 Pine my mgl 10 81 a Wrt Ghl funds glob nl-12 66 1 ,t2 09 1012 10,53 19 85 21 06 .17 9,66 101410 39 10 68 11.72 12 30 no 26 no 03 a nl1 82 -.nl-7 86-r it no no a no 9 75 1021 -15 50 16 2319 60 20 521005 10.5212 33 12 9114.00 14 6610.2.11093 nl�?-nl-10 81�?o 13 37 14 07 1071 1041 Jerbich near out Cor Suklich a Totrel it. Var Gib Zweig funds is Gap Sirai Zupp to Ltd to flip n.99 1402 10 26 12 82 15 69 11 70 8 31. No a nl-nt-nl-nl-nl-6,72�? 23 10 07 03 05 03 02 27 07 21 13 17 05 01 03 16 ,13_ 12 06 02 a 13 a .16 06 04 9.46 9 93 04 1196 12 68 .15 12 2b 12 99 .18 10 41 10 57 it it ,9.40 a a 9.82 .01 no a no Nual sales Load. 1 a Prev us Day s quote a r redemption charge May apply x a extra dividend it. .  
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