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Stock market rebounds on Dow surge amid buy signals
The Dow Jones Industrial Average rose sharply, finishing around 814. In a broad market bounce, prices jumped on heavy institutional buying after a dip of nearly 20 percent in five weeks. Analysts cited oversold conditions and strategic buying in oil, rails, and communications. News events including Ford's inauguration and Kissinger comments supported gains, while wholesale prices rose in November due to higher petroleum costs.
MENTIONED IN THIS ARTICLE
New York Vs
Brakers
John Sutherland
Irving Trust
Rails
Communications
Sutherland
Gerald R. Ford
R-Mich
Henry Kissinger
Mideast
Robert Stovall
Reynolds Securities
Commerce Department