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Money Matters: OPEC, Trade Deficit, Stock Market #92412

ABC Evening News for Wednesday, Jan 30, 1985
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(Studio) Report introduced
REPORTER: Peter Jennings

(Geneva, Switzerland) OPEC's decision to cut oil prices explained, discussed; Iran, Algeria and Libya mentioned opposing new price structure, with Gabon abstaining. Psychological effect of OPEC (Organization of Petroleum Exporting Countries) decision in Great Britain and relative lack of impact on United States consumers noted. [Analyst Dan LUNDBERG - thinks United States prices will continue dropping.] [Sheik Ahmed Zaki al-YAMANI - warns consumers against taking OPEC (Organization of Petroleum Exporting Countries) for granted.]
REPORTER: Hal Walker

(Studio) 1984 United States trade deficit reported.
REPORTER: Peter Jennings

(NYC) Trade deficit's impact on United States unemployment examined; factors underlying figs., especially trade relationship with Japan, Canada, Taiwan and West Germany, explained. Caterpillar's overseas trade discussed as illustrating plight of United States companies [Caterpillar spokesperson Stephen NEWHOUSE - notes high United States dollar hurts company both abroad and domestically.] Company's reduced employment outlined. [UAW local president Tony GREEN - cites exodus of employees.] Est. number United States jobs lost due to trade deficit considered.
REPORTER: Dan Cordtz

(Studio) STK. MKT. REPORT
REPORTER: Peter Jennings

Reporter(s):
Cordtz, Dan;
Jennings, Peter;
Walker, Hal
Duration:
00:04:30

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