Stock Market Rebounds With Modest Gain
But prices finished well below their midsession peaks as interest rates, which started off the day with a decline, inched up again.</br></br>The Dow Jones industrial average, which had fallen nearly 110 points in the past four sessions, ended 9.90 points higher at 2225.77. The average had been up more than 25 points at its highest level of the day.</br></br>Analysts noted that traders began to step up their buying Wednesday when the Dow briefly dipped below 2200. The belief that stocks were due for a rally got some support Thursday when interest rates turned downward in the credit markets. But as the decline in the bond market faded, so did the upswing in stocks.</br></br>Many Wall Streeters took a positive view of CiticorpÛªs decision this week to increase by $3 billion its reserves against loans to less-developed countries.</br></br>Elsewhere in the bank group, J.P. Morgan picked up 2% to 44%; Chase Manhattan 1% to 36%; Chemical New York 1% to 41%, and Manufacturers Hanover 1 to 39%.