Stock Market Up Moderately
At tile New York Stock. Exchange, advances outnumbered declines about 3 to 2, with J50 NYSE stocks recording new yearly highs and 4 stocks recording new lows.</br></br>As in several recent sessions, the market indexes were pushed around by profit taking. After an early 3-point advance faltered, the</br></br>Brokers said the most immediate reason for the late-afternoon rise was the activity of the B'ederal Reserve in the nationÛªs money market, indicating the FedÛªs support of lower interest rates.</br></br>A decline in short-term interest rates is a potential stimulus for the economy because the cost of business loans falls.</br></br>Brokers said the market also has been encouraged lately by hopes that oil exporting countries may post only a modest increase in the price of oil following their meeting this week in the Middle East. Tuesday, Saudi ArabiaÛªs oil minister indicated that the Saudis will use their powerful influence over other oil nations to moderate any price rise.