Image provided by: Texas A&M University
About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Feb. 15, 1984)
Wednesday, February 15, 1984/The Battalion/Page 7 locks score second biggest gain of 1984 v 1. /V T/lfll TILL >RK! United Press International ilEW YORK — The stock jrket, bouncing 10- off a hth low overcame false ru- about President Reagan’s ilth to score its second largest of the new year Tuesday Jlind news the economy is ro- , Sears, Roebuck and Gen- Motors paced the rebound, cover actions and specu- n involving Gulf Oil, Atlan- ichfield, Houston Natural and Coastal Corp. provided fireworks. ie Dow Jones industrial av- tage spurted 13.71 to 163.84, the biggest gain since [tlimbed 16.31 on Jan. 4. It "ded 10.57 to 1,150.13 Mon- , the lowest level since it fin ished at 1,145.32 on April 12, 1983. Prior to this session, the Dow had skidded 136.51 since Jan. 6. The Dow transportation av erage, helped by a recommen dation on railroad stocks from Merrill Lynch, rose 6.26 to 514.07 but the Dow utilities av erage lost 0.10 to 125.53. The New York Stock Ex change index jumped 0.84 to 90.12 and the price of an aver age share increased 31 cents. Standard & Poor’s 500-stock in dex rose 1.66 to 156.61. Ad vances led declines 1,021-641 among the 2,042 issues traded at 4 p.m. EST. Big Board volume rose to 91,800,000 shares from the 78,460,000 traded Monday, the IBM, Sears and General Motors pace market rally despite false rumors second slowest session of the year. “The market was oversold and the Dow has been holding at the 1,150 level,” said Marvin Katz of Sanford C. Bernstein & Co. “So, there is a little bit of bargain hunting in quality stocks.” Despite the rebound, “noth ing much has changed,” said Kevin Keeney of Southwest Se curities, Dallas. “Interest rates are still high. The economy is still healthy. The budget deficits are still large.” Reports showed retail sales surged 2.2 percent in January — the sharpest increase since May 1983 — following a 0.1 percent rise in December. Con sumer credit jumped $6.61 bil lion in December. Sales of De troit’s Big Three automakers rose 32 percent sales in the first 10 days of February. “These figures give credence to the Fed’s position the econ omy is too strong to ease credit,” said Monte Gordon of Dreyfus Corp. Bond tumbled on the news. Investors shrugged off ru mors President Reagan had suf fered a heart attack. The White House denied the report but the price of gold and silver climbed. Composite volume of NYSE issues listed on all U.S. ex changes and over the counter at 4 p.m. totaled 105,052,900 shares, up from the 89,846,300 Monday. The American Stock Ex change index gained 1.20 to 206.22 and the price of an aver age share rose eight cents. Ad vances topped declines 312-248 among the 782 issues traded. Volume totaled 5,730,000 shares compared with 6,110,000 Monday. The National Association of Securities Dealers index of OTC stocks rose 1.86 to 252.43. On the trading floor, Ameri can Telephone & Telegraph when-issued stock was the most active NYSE-listed issue, un changed at 16%. AT&T ’’old” stock followed, up Ya to 63 3 /4. Gulf Oil, a 3 Vs loser Monday, was third, up 3Ya to 57 V2. Atlan tic Richfield lost 3 /s to 44 Vs. Both companies denied pub lished reports that ARCO had made an informal $11.6 billion bid for the company. But ARCO admitted it had met with Gulf head James Lee and Mesa Petroleum Chairman T. Boone Pickens. Pickens is re ported ready to make a Gulf of fer. Mesa stock added % to 15 5 /s. Houston Natural Gas lost 9 3 /s to 43 Vs and Coastal Corp. (ex- dividend) skidded 2Ys to 34 Vi. The companies Monday dropped takeover bids for each other. Long Island Lighting, which lost 1W Monday, was fourth on the list, up 3 /s to 7 Vs. LILCO said the next six months will be crucial for the financially ailing utility that is pulling out of a nu clear plant in Oswego County, nIy. Trendsetting IBM rose 2 to 111, Sears, Roebuck IV2 to 37 and CBS % to 65 Vi. Villa al ipirituSij lad, anil Austin. I able fot| exhibit he Lanfil /ening !l if his bis )jects an I iy Dillard's ns but »i and • The i new roi| %- WASHING TON'S BIRTHDA Y sale! manage" ion dhif a, whitl vill be .he tjrofl which a I ity Avail y Avail I iceived: I versit)l| ick sale! misses' dresses! sale! spring suits ti 99.99 e Reg. $62 to $110... 29.99 to 54.99 Our collection includes one and two piece dresses of polyester/wool or spun polyester, all with piped detailing. Look your best for any occasion in grey, pink, red, royal or cream prints or solids, in sizes 8 to 18. 19.99 special! career blouses Great values! Polyester georgette blouses in two beautiful styles. Both have long sleeves and covered buttons. Sizes 8 to 16 or 8 to 18. 89.99 Londontowne all-weather coats Comp, at $120. Single or double breasted styles for spring. Polyester/cotton poplin in natural or hemp tones. Misses' 8 to 16 and petites' 6 to 14. 17.99 to 54.99 Russ, Personal and Pant-Her coordinates Orig. $26 to $76. A superb selection of casual and career styles in popular fabrics and colors. Jackets, shirts, blazers and more! Misses' sizes 8 to 18. Compare at $132 Fresh spring suits in your choice of four styles. Choose a blazer with one or two buttons... or a jacket style with ruffled or tucked front. Each suit is fully lined. In navy, red, rose or cream cotton canvas. Sizes 6 to 14. 21.49 to 77.49 famous maker coordinates for petite sizes Orig. $42 to $155. Choose wool and other warm fabrics in skirts, blazers, and pants. . . then add blouses. Great in grey, plum or black, 2 to 14. 7.99 to 26.99 SO % off women’s separates Orig. $17 to $55. Larger size blouses, skirts, jackets or pants in fall colors and fabrics. Tops are sizes 38 to 44; bottoms in sizes 34 to 40. 7.99 to 14.99 save 50 % on misses’ sweaters Orig. $16 to $36. A sensational selection of styles including pull-overs and car digans. Popular warm knits in sizes S-M-L. Get several now for big savings! shop Dillard’s monday thru Saturday 10-9; post oak mall, college station DILLARD'S WELCOMES THE AMERICAN EXPRESS' CARD