BIZWATCH : MARKETS.MARKET LOGIC: The Dow Jones industrial average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. rose Wednesday, but most stocks slid again as bonds failed to improve and investors remained cautious before the Federal Reserve issues its verdict on inflation. The Dow industrials advanced 20.32 points to 5,648.35. But that was down from a midday gain of 46 points, when the Dow briefly broke free of the narrow, indecisive trading range Trading Range The spread between the high and low prices traded during a period of time. Notes: When a stock breaks through or falls below its trading range after several days of trading in a range, it usually means there is momentum (positive or negative) building. that has characterized this week and last. MEMO A NEW OFF-RAMP: Highway workers Wednesday replaced signs for Candlestick Candlestick A price chart that displays the high, low, open, and close for a security each day over a specified period of time. Park in San Francisco with new signs pointing the way to 3Com Park. 3Com, the Silicon Valley computer networking company, has sponsored the name of the stadium through the year 2000. 3Com paid $30,000 to change all 18 freeway signs. PEPSI PLANT: A massive, thoroughly modern Pepsi plant opened in Hayward on Wednesday to serve the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay , Western states and Japan. The $47 million plant, the largest and most modern in the country at 300,000 square feet, opened to balloons, a ribbon cutting and speeches by San Francisco 49ers SUMITOMO SCANDAL: Regulators will take a closer look at dealings on the London Metal Exchange London Metal Exchange (LME) A market for trading base metals, where traded options contracts are available against the underlying futures contract. , a market little known to the public that was thrust into the spotlight by the Sumitomo copper debacle. The LME See London Metal Exchange. LME See London Metal Exchange (LME). seems to acknowledge it needs to restore public confidence in the market where Sumitomo's former star copper trader, Yasuo Hamanaka, racked up most of his losses. LME Chairman Raj Bagri asked Britain's Securities and Investments Board for ``a review of how best the U.K. regulatory regime can deal with issues involving non-members of the London Metal Exchange and the London Metal Exchange's role in international metal markets.'' PRODUCTION INCREASE: Boeing Co. is planning to more than double production of its best-selling 737 jet by the beginning of 1998, the aircraft maker's second announcement this year of plans to increase jet production. Boeing said Wednesday it will gradually increase production of 737s to 17 jets monthly from the current rate of seven. The company is bringing out a third generation of the airplane, which has been the best-selling commercial airliner in history since it was first introduced in 1965. ACQUISITION: El Paso Energy Corp. said it will acquire Tenneco Inc.'s energy division in a $4 billion deal that will effectively put Tenneco out of the energy business. The move is part of an ongoing reorganization at Tenneco intended to emphasize the company's auto parts and packaging business. TAKE NOTE SEMINAR: The Unity Media Access Project will present ``Internet Boot Camp,'' a free seminar for community members and nonprofit groups, June 22 at the University of Southern California's Thomas and Dorothy Leavey Library One of the two main undergraduate libraries at the University of Southern California. University of Southern California University of Southern California • USC Medical Center • in Los Angeles. The media access workshop will offer hands-on access to computers and will cover the basics of accessing and disseminating news information via the Internet. A complimentary lunch, free media guides and media access resources materials are provided. Reservations for the 8:30 a.m. to 2 p.m. or noon to 5 p.m. sessions are required. Call (213) 461-1506. CAPTION(S): 2 Charts Chart: (1--Color) DOW INDUSTRIALS (2--Color) BIZ FACTS D OING OING Organisations Internationales Non-Gouvernementales (French) OING Organizaciones Internacionales no Gubernamentales BUSINESS WITH OPEC OPEC: see Organization of Petroleum Exporting Countries. OPEC in full Organization of the Petroleum Exporting Countries Multinational organization established in 1960 to coordinate the petroleum production and export policies of its U.S. balance of merchandise trade with OPEC members, in billions of dollars Knight-Ridder Tribune Graphics Network |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion