Newspaper article THE JOURNAL RECORD

Stocks Mixed; Traders Await Reports/industrial Average Up 7.08

Newspaper article THE JOURNAL RECORD

Stocks Mixed; Traders Await Reports/industrial Average Up 7.08

Article excerpt

NEW YORK (AP) - Stock prices closed narrowly mixed Wednesday as cautious investors awaited the release of the government's trade deficit and wholesale price figures.

The Dow Jones industrial average rose 7.08 to 2,329.68.

Declining issues were slightly ahead of advancers, with 826 stocks down, 758 up and 397 unchanged on the New York Stock Exchange.

Big Board volume totaled 170.97 million shares, against 155.32 million in the previous session.

The market traded in a narrow range throughout the day and the Dow Jones industrial average changed course several times.

``It's marking time, waiting for the numbers to come out tomorrow,'' Ralph Acampora, an analyst with Kidder, Peabody & Co., said of the stock market.

The government was releasing the March balance of trade figures on Thursday, and its wholesale price index on Friday.

Investors were anticipating that the March trade deficit would total around $13 billion, ``on the lower side of the range,'' said A.C. Moore, an analyst with Argus Research Corp.

Moore said that if the trade figures come in around that level, they may have little effect on the stock market. ``They may have already been discounted,'' he said.

Analysts said the market continued to track the movements of the dollar and commodities and Treasury bond markets, but basically was trendless.

``Momentum is lacking,'' said Moore, who predicted the market would ``pull back and consolidate for a while.''

Transportation issues were among the strongest performers Wednesday.

Leading the NYSE most active list was Allegis, which jumped 1 7/8 to 69 5/8. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.