Stocks Ignore Bad News and Rally 2d Time
NEW YORK, July 16 (AP) ÛÓTossing aside news that would have killed rallies on other days, the stock market bulled ahead today in moderate trading, raising hopes among analysts for a second strong rally in as many weeks.</br></br>The Dow Jones average of 30 industrials closed ahead 11.59 at 597.58. In doing so, it nearly wiped out FridayÛªs drop of 15.95 and more than equaled last MondayÛªs jump of 7.15, which began the three-day rally.</br></br>Advancing issues crushed declining stocks. 994 to 432. among 1,775 traded on the Big Board. Volume rested at 12.92 million shares, up from FridayÛªs 11.39 million.</br></br>Analysts said with guarded optimism that it might show a trend away from the most recent bear market. But they were taking a wait-and-see attitude.</br></br>The Amex price-change index was down .13 at 22.77, while the NASDAQ composite index of Over-the-Counter stocks was up.