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January 31, 1983
New York
The failure of OPEC to agree on pricing and quotas was like a cold bath on Wall Street. But it didn't take long for investors to warm up again, and by the end of the week, stock prices had surged past last week's levels. For the week, the Dow Jones industrial average climbed 11.77 points, closing at 1.064.75. General Electric was actively traded last week and much higher after it agreed to sell its Utah International subsidiary to BHP, an Australian company.