Stocks Rally After Sell-Off, Close Mixed: Industrials Post 3.16-Point Gain
NEW YORK, June 18ÛÓThe stock market rebounded from some early selling to finish mixed today, thanks to some late buying of blue chips.</br></br>The Dow Jones average of 80 industrials, down about 13 points at midday, closed with a 3.16-point gain at 1,868.94.</br></br>The Dow Jones industrials dropped 8.41 points in the week's first two sessions. Analysts said enthusiasm for stocks slackened lately as evidence mounted that the pace of business activity remains subdued.</br></br>Before the opening today, the government revised downward its estimate of economic growth in the first quarter of this year.</br></br>The Commerce Department said the gross national product grew at an annual rate of 2.9 percent, after adjustment for inflation and seasonal factors, in the January-March period, rather than t he 3.7 percent rate estimated earlier.