Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!usa-post Newsgroups: usa-today.invest From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: invest Fri, May 1 1992 Date: Fri, 1 May 92 05:15:09 EDT Message-ID: 05-01 0000 DECISIONLINE: Personal Investing USA TODAY Update May 1-3, 1992 Source: USA TODAY:Gannett National Information Network OIL STOCKS BOOST DOW: The stock market pushed higher Thursday as oil stocks posted healthy gains. The Dow Jones industrial average rose 25.94 to 3359.12. Winners beat losers 1,198 to 562 on the New York Stock Exchange. Dean Witter Reynolds gave the market a boost when it issued buy recommendations on some oil stocks. Texaco and Exxon were among 20 of the 30 Dow stocks that posted gains. OIL STOCKS ADVANCE: Oil stocks advanced Thursday on buy recommendations from Dean Witter. Amoco gained 7:8 to $48 1:2; Atlantic Richfield climbed 2 3:4 to $111 1:2; Unocal rose 3:4 to $25 3:8; Exxon edged up 3:4 to $60; Mobil rose 3:4 to $64 5:8; and Texaco went up 1 3:4 to $62 1:4. "Oils were out of favor and were ripe for a rally," said Gene Nowak, chief of Dean Witter's energy group. CHRYSLER REPORTS LOSS: Chrysler became the first U.S. automaker to report red ink for the first quarter when it said Thursday that it lost $13 million, or 7 cents a share. Tuesday, General Motors reported a $179 million profit; Ford Motor earned $338 million. Chrysler blamed soft U.S. auto sales and the high tab for introducing its Jeep Grand Cherokee. Chrysler shares fell 3:8 to $19 1:4. AUTO STOCKS LEAD APRIL: In April, stock investors placed a mixed bag of bets. "It's almost a stock-by-stock situation," says Dennis Jarrett, strategist at Kidder Peabody. Auto stocks continued to lead. They finished the month - through Wednesday's close - as the industry group that had the biggest gains among the 87 groups represented by the Standard & Poor's index of 500 stocks. HOME-BUILDING STOCKS SLIDE: Most of this year, stocks that move with the economy have led the market higher. But in April investors sold many of those stocks, seeking to lock in profits after their big run-up. Home-building stocks, among the most sensitive to economic swings, were the worst-performing group last month. Analysts say they did so well last year, up 90%, they were due for a sell-off. DURACELL ADVANCES ON EARNINGS: Duracell gained 1 7:8 to $26 7:8 Thursday. It reported per-share earnings of 4 cents the quarter ended March 28. Sales were lower, but so were interest expenses. The company, which went public at $15 a share last year, is paying down massive debt. ECOLAB INCOME INCREASES: Ecolab said Thursday that its first quarter net income rose 47% to $11.2 million, or 36 cents per share, compared to $7.6 million, or 24 cents per share, a year ago, excluding loss from discontinued ChemLawn operations and charge related to a change in accounting for retiree health benefits. LEADING INDICATORS INDEX UP: The Index of Leading Indicators rose for the third straight month in March, the Commerce Department reported Thursday. The index rose 0.2% in March after strong gains of 0.8% in February and 1% in January. Though the latest advance was small, the first quarter marked the first time since May through July of last year that the index rose in three consecutive months. FACTORY ORDERS INCREASE: Orders to U.S. factories rose 1.6% in March. The rise was larger than expected by most economists and was strengthened by a 2.1% gain in orders for durable goods - those meant to last three years or longer. GOLD, SILVER HIGHER: Gold and silver prices were mostly higher Thursday. At the Commodity Exchange, gold for current delivery fetched $337.60, up $1.50. At Republic National Bank, gold fetched $336.90, up $1.40. Gold rose in London, but fell in Zurich. Silver bullion rose in London to a late bid price of $3.98, up from $3.97. Silver traded at $3.988 an ounce on the Comex, up from $3.940. DOW JONES OPENS ON UPSWING: The Dow Jones average of 30 industrials opens Friday at 3359.12 after closing up 25.94 Thursday. The New York Stock Exchange composite opens at 228.30, up 1.72. The American Stock Exchange market value opens at 390.61, up 4.83. The NASDAQ OTC composite opens at 578.68, up 8.74. DOLLAR OPENS DOWN OVERSEAS: The dollar opens mixed on Friday. It opens at 0.5627 British pounds, down from 0.5647; 5.5605 French francs, down from 5.5910; 1.6482 German marks, down from 1.6553; and 133.20 Japanese yen, down from 133.50. (As of 3 p.m. Thursday. Source: First American Bank of New York.) 24-HOUR TELEPHONE INFORMATION: USA TODAY Money Hot Line. 95 cents a minute. 1-900-555-5555. Personal Investing Editor: William Snoddy. (1-919-855-3491) Making copies of USA TODAY Update (Copyright, 1992) for further distribution violates federal law. This article is copyright 1992 Gannett News Service. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM