New York, June 10.
Prices on the New York Stock Exchange moved irregularly today in a dull session. Steels lagged on expectations of a decline in operations. Motors about held their own awaiting further Detroit labour developments, slipping just before the close.
Several new highs for the year were set. Rails were firm. Union Pacific gained nearly a point. Utilities, coppers and oils were mixed. Electrical equipments staged small-gains. Foods and building materials were firm.
Wall Street nears that institutional sources are good buyers of stocks and bonds this week. Aviation second quarter earnings may be below earlier expectations.
Some chartists believe the industrial average will reach the 144-146 zone before real resistance is met.
Montgomery Ward's earnings for 1989 will be above last year's record—
Favourable market factors today included 1. Improved gasoline prices.
2 Building volume continues to gain. 5. Improved department store sales.
Among the unfavourable factors were these:
1. The market's technical position 2, The labour situation in the automobile industry.
3. Uncertainties over tripartite the pact—United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.