Stocks Record Moderate Advances; Sales Total Near Seven-Month Low
NEW YORK, May 16 Ml.ÛÓ'The stock market maintained an attitude of cautious defense this week as it advanced.</br></br>This is the third straight week that the market has gone up. During that time all of the biggest daily moves were up.</br></br>Right now the slock market is around the top of the narrow range in which it has swung for six weeks after tumbling down in the break that followed Red proposals for an exchange of Korean prisoners.</br></br>During this period there has been a lot of money either switched from one stock to another or idle money Stalling in the Korean truce talks reinvested in the market with an eye to further recover. Many characterized their action as defensive, was a signal for caution. And many would like to sit on the sidelines until after President Eisenhower talks next week on national security.</br></br>The extent of caution was underlined by the fact that the daily average volume of 1,126,000 shares was the lowest in nearly seven months.