DJI Declines 6.40 Points in Quiet Trading
NEW YORK, Sept. 9 (AP)ÛÓThe stock market drifted lower in a quiet session today as traders awaited the Federal Reserves weekly report on the money supply.</br></br>But hopes ran high on Wall Street for a livelier showing by the market early next week al ter the Fed figures came out, showing another surprise drop in the niohey supply. The news touched off a strong rally in after-hours trading in the bond market.</br></br>The Dow dopes average of 30 industrials dropped 0.40 points to 1,239.74, cutting its gain for the week to 24.29 points.</br></br>After the stock market closed in New York, the Federal Reserve issued statistics showing a $2 billion drop in the basic measure of the money supply, known as Ml, for the latest reporting week.</br></br>That contrasted with advance estimates of a nearly $1 billion increase, and gave new impetus to hopes for a looser credit policy at the Fed and lower interest rates.