Stock Quotations Shallow Rally Fades After Labor Day
Wall Street drifted after the Labor Day weekend with the Dow down to 601.23 at noon and closing at 603.24, a net drop of 2.01. Volume eased to 2.9 million shares as 984 advances led 570 declines among 1,298 issues, with notable activity in Mesabi Trust and Litton Industries and a $47.4 million defense contract lifting Ling-Temco-Vought.
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No Anxiety Over Stocks
New York reports muted Wall Street concern despite a sharp weekly drop as traders anticipate Labor Day. Analysts say sidelined bidders and cautious mood replace heavy selling pressure, forecasting only a tentative rebound when markets resume. In Chicago grain, modest gains follow a mixed session with soybeans and wheat edging higher and factors pointing to a cautious longer-term outlook.
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