Profit-Taking Clips Market: Reaction Not Drastic Auto Stocks Mixed Aircrafts Under Pressure
, NEW YORK, June 14ÛÓThe stock market snapped its string of winners at six today. Profit-taking moved in just after the opening and pushed prices lower. A rally started before the close but it was cut short by</br></br>, NEW YORK, June 14ÛÓThe stock market snapped its string of winners at six today. Profit-taking moved in just after the opening and pushed prices lower. A rally started before the close but it was cut short by renewed selling at the bell.1 Û÷ The Dow Jones industrial average lost 5.54 points to ([lose at 880.61. Its lowest hourly reading of the day. standard & PoorÛªs 500-stock oomposite closed off 0.22 point at 92.40 and the New York Stock Exchange index was shown 0.09 point to 51.06.</br></br>Analysts wrote off the day, noting that the Dow had climbed nearly 40 points in six sessions since the big sell-off that greeted the outbreak of the Arab-Israeli war. They said the market was due for a pause and added that, with the war threat gone from the Mideast, the market should now begin to move more in tune with expectations on the! domestic business front. I</br></br>Technicians noted that the reaction was not drastic, as losers outnumbered gainers by only 653 to 565, compared with 735 up and 512 down on Tuesday. New highs slipped to 124 from 163 and there were</br></br>Blue chips were the leaders on the downside after leading the market up for the past few days. Losses in the quality stocks were larger than for the usually more volatile glamor issues.