Stock prices declined moderately Friday in brisk trading before the July 4th holiday weekend. The Dow Jones industrial average fell 10.13 to 2,131.58; for the week, the average dropped 11.38 points. Robert Walsh, a money manager in Houston for Jenswold, King & Associates, said two factors accounted for yesterday's decline. "First, there was selling pressure created by profit-taking by institutions, which normally occurs immediately after the end of a quarter where stock prices have risen," he said. "Secondly, there was an absence of any meaningful new buying because of the preholiday atmosphere."
Full text: Star Tribune, Jul 2, 1988
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