Stock Market Stages Its Sharpest Upswing in History
All HIGH and LOW figure# printed åÈn Iho table And Ihe chart are extreme DAILY CLOSINGS reached during Iho month in which they appear</br></br>A lilllo over a week ago, IhiÛª chairman nf iho Now York Stock Exchange Have President Nixon a statue of a hull, tho symbol oT a rising stock market. The chart, above shows why.</br></br>Since last May, when the President met with ft group of Wall Street leaders, the market has staged its sharpest upswing In history. From a low of (131.18 on May 26. 1070, (he Dow Jones industrial average of 30 blue chip stocks has climbed to 047.80 at the close of last Fri-</br></br>At the time of the meeting, the President suggested it was a good time to invest in the stock market. That turned out to be good advice, but not many people took it. The big rally has been fueled largely by the activities of mutual funds, insurance companies and other investing institutions. Even now, with economic figures pointing to fit least a gradual upturn in the economy, individual investors are accounting for only 30 per cent of the volume on the NYSE.</br></br>Market attention at the moment, is riveted on the all-time high in the Dow Industrials, 995.15, recorded on Feb. 9, 1966. The prevailing sentiment in Wall Street calls for the average to puncture that level and go sailing over the 1,000 mark before the end of 1971.