Market Pushes Higher, S&L Shares in Lead
NEW YORK, Feb. 3 ÛÓit's attention still firmly fixed on the apparent trend to easier money, the stock market churned higher again today. J'he move came in spite of a growing chorus of analysts's warnings that a downward correction is overdue after the sharp runup since the first of the year.</br></br>The Dow Jones Industrial Average moved higher right after the opening and held its gains as some traders buttoned down profits before the weekend. Tiie Dow finished at 857.46, up 4.34 points. The NYSE index was ahead 0.34 point to 47.73 anc! Standard & PoorÛªs 500 - stock composite rose 0.63 point to 87.36.</br></br>Volume soared to 12.02 million shares from 10.72 million on Thursday and advancing stocks outnumbered declines by more than two to one. There were 832 winners on the day, up from 684 the day before, and 226 losers, compared with 127 a day earlier. New 1966-67 highs jumped to '95 from 70 and there were no new lows.</br></br>thing of the past were evident in the list of 15 most active stocks. Four of the six most active issues were savings and loan companies, which are expected to be among the biggest beneficiaries of lower interest rates, in addition, the Federal National Mortgage Administration T burs d a y raised the price it will pay for home loans, providing more money to help the slumping home building industry.</br></br>California Financial was the most active stock of the day, adding :it of a point to 6: i. Great Western was in second spot, up half a point to 14'jj, Imperial Corp. of American was fifth most active, up Hk to 8r:s and First Western Financial was next, up a point to 5:!-i. First Charter added :;'t to 26 without making the active list.