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Stock Market Rebound With Analysts Cautious Hope
New York stock market rose Monday after a sharp drop last week. The Dow gained 5.19 to 927.90 as advancers outnumbered decliners 879 to 561 on the NYSE, with volume at 11.96 million shares. Analysts termed the rise a technical rally amid inflation fears and doubts about the dollar’s strength. Louis Abt of Granger & Co said institutional buying drove the move, predicting a quick pullback as big traders take profits.
MENTIONED IN THIS ARTICLE
Aes Nee Rrsee
NEW York
Stoc
New York Stock Exchange
Louis Abt
Granger & Co
London
Robert Johnson
Paine, Webber, Jackson & Curtis