Stocks Climb to Second Straight Peak: Leaders Gain 4-5 Points
NEW YORK, May 14 (AP)ÛÓSteels made big strides as the stock market today moved to its second straight record high. Trading was active.</br></br>Leading issues advanced from fractions to 4 or 5 points. A good number of losers sprinkled the list, leaving some groups mixed. Profit taking on the advance, which has now run for five consecutive sessions, was apparent here and there.</br></br>Brokers said that steels were spurred by increasing orders and glowing prospects for 1959 earnings touched off by Republic SteelÛªs big expansion program and officially-stated forecasts of an excellent year.</br></br>The market was higher at the start, clipped prices a bit at mid-session, and closed at about its best.</br></br>The AP 60-stock average rose $1 00 to a record $230.10 with the industrials up $2 20 to a record, the rails up 90 cents and the utilities off 20 cents.