[ No headline ]

Split the Dow Jones industrial average? Newton Zinder, an analyst at E. F. Hutton, the brokerage house, says it might not be a bad idea: "Getting and staying above 500 would probably be no problem at all." Moving and staying over 1,000, however, presents a completely different problem, as was obvious last week as the Dow average closed the week at 992.80, after flirting with the 1,000 mark all week. On Monday, for example, it spurted 17.02 points, closing at 1,002.79; but it lost 10.26 the next day.

Interest rates continued to fall last week although the rally in the bond market ended abruptly at the week's end, when traders realized the extent of government borrowing this week.

Investor interest continued to center on possible "takeover" targets. Among those caught up in the maelstrom were Newmont Mining, Phelps Dodge, First Charter Financial, and Schlitz Brewing. Brokerage house stocks also reacted positively after Prudential Insurance Company announced it was offering $32 a share for Bache Group, the parent of Bache Halsey Stuart Shields Inc., the large brokerage house.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK