Bullish News Is Ignored
NEW YORK, Jan. 16 UP)ÛÓ-Bullish news failed to stimulate. the stock market today. as it declined in moderate trading.</br></br>Brokers ascribed the weakness to increasing uncertainty as to whether President Eilfenhower would become a candidate for re-election.</br></br>The Associated Press index of 60 stocks was down $2.10 to $176.20, almost matching last MondayÛªs dip of $2.40. The industrials fell $3.20, the rails $2.30 and the utilities 10 cents.</br></br>Trading volume was 2,260,000 shares compared with 2,120,000 on Friday and 2,700,000 during last MondayÛªs drop.</br></br>The retreat came on a day when GM president Harlow H. Curtice predicted a record year for the economy and said his company would spend a billion dollars on expansion in 1956; when President Eisenhower sent Congress not only a balanced budget but proposals for a rise in government spending; when steel output was announced as reaching a new weekly high.