market averages to modest
About two-thirds of all issues traded on the New York 8&&K-Exchange advanced in price, but softness on the part</br></br>About two-thirds of all issues traded on the New York 8&&K-Exchange advanced in price, but softness on the part sumpuon of Tuesdays substantial rise, which some Wall Street analysts credited to President NixonÛªs optimistic outlook on the economy expressed Monday night.</br></br>The action of Chemical Bank of New York in following the cut in the prime lending rate to 6Vz per cent by Pennsylvania Banking & Trust Co. of Philadelphia added support to the market, analysts said. Chemical later in the trading day was joined in the cut by Morgan Guaranty Trust and First National City, both New York banks.</br></br>Among 1,664 issues traUecT on the Big Board, 1,098 a<j-L vanced, 341 declined, and 9819Jrs against 3 losers and were unchanged. There \^eW changed.</br></br>The Dow Jones averag^M^OO shares. Telex, up lVa 30 industrials closed witfo å¤cy8 0n 356,800 shares, was small gain of 2.20 at 83sfe!y& 1(j.