Market Stages Biggest Advance In Three Months, Steels Strong: Gainers ...
NEW YORK, Jan. 5ÛÓIt was a week late in coming, but the big rally stormed into Wall Street today and shot the stock market to its biggest gain in almost three months.</br></br>Traders barrelled into stocks from the opening bell to the close, running the Dow Jones industrial average to a gain of 14.37 points, its biggest jump since a 19.54-point gain on Oct. 12. The closing level of 805.51 once again put the average above the 800 markÛÓ j a spot still considered by some chartists to have technical significance.</br></br>Volume ran ahead of yesterdayÛªs pace throughout the day, finishing at 7.32 million shares, compared with 6.15 million in the previous session.</br></br>Gainers overwhelmed losers by better than five to one, with 1070 stocks advancing on the Jay against 208 that lost ground. New highs only rose to nine from seven and new lows fell to eight from 16.</br></br>Standard & PorÛªs 500-stock composite was up 1.05 points to 81.60 and the NYSE index added 0.56 point to 44.38.