Stocks Rise Despite Low-Volume Trading: Caution Underlying Note
NEW YORK, Aug. 31 (AP)ÛÓA combination of bullish factors put the stock market higher today despite a 'dropÛÓoff in trading due to the approach of the long Labor Day weekend.</br></br>Some Wall Streeters had already begun to leave for the holiday, a traditional turning point for stocks and business. The underlying note was cautious, but heavy buying was attracted to a number of issues.</br></br>All the auto stocks were among the 15 most active issues, and all advanced except American Motors. Fear of an auto strike seemed to be dwindling.</br></br>The Soviet decision to resume testing nuclear weapons boosted a number of the missile-rocket-electronic shares, but they by no means ran away and their response to the news was somewhat sluggish.</br></br>The final kicker that put the list definitely on higher ground was a published report that the House Ways and Means Committee is expected to approve a bill which would ease the tax bite on DuPont shareholders of any distribution of the 63 million shares of General Motors stock held by the chemical giant. Dupont advanced 514 on the news. General Motors was a point higher.