Stocks Set New Peak, Then Backtrack: Recent Favorites Sag
NEW YORK, Oct. 22 (AP)ÛÓA heavy wave of selling in the final hour marred another stock market advance which put some averages at historic highs again today.</br></br>Some sharp losses among the recently strong color television set manufacturers and assorted electronics spread to some other volatile issues, prompting many trading elements to dump stocks rapidly. The ticker tape was running three minutes late at the close.</br></br>At the same time, the list was being given excellent leadership by General Motors which rose to a new high of 1117* before settling down to a net gain of % at 110%.</br></br>Big Three motors were pacemakers from the start as they rode on reports that sales of 1966 model cars were off to the fastest start of any model year.</br></br>The Dow-Jones industrial average, which had been up 4.77 at best, closed with a gain of 2.14 at its new high of 952.42.