Stocks Rally Moderately on Small Volume: News Background Is Good
NEW YORK, Feb. 1 (AP)ÛÓThe stock market got up off the floor today, making a moderate recovery, after a bad series of beatings. It was the first time in four weeks that "blue MondayÛ was not observed with a sharp decline.</br></br>2,820,000	shares compared with 3,080,000 in Friday's sharp retreatÛÓthat it had little air of conviction about it.</br></br>Steels and motors were active leaders in the advance. A number of assorted chemicals, electronics and rubbers rose as industrial stocks carried the ball.</br></br>It looked like a technical recovery to market analysts although the news background was generally good. Automakers reported big increase in production. Less pressure for an increase in the basic bank interest rate was noted.</br></br>The market advance, however, was patchy. A number of high quality as well as speculative issues which have lost a lot of ground, recovered a good part of it.