Stock Prices Rise On Auto Settlement: Holiday Retards Trading
NEW YORK, Sept. 20 (AP)ÛÓWall Street received the tonic that it needed todayÛÓ an agreement between General Motors and the United Auto Workers UnionÛÓand the stpek market pulled out of a decline and moved sharply higher.</br></br>' Volume was light, however, dwindling to 2.7 million shares from 3.26 million yesterday, the smallest since July 24 when 2.49 million shares wereÛ÷ traded. Trading was dampened by Yom Kippur.</br></br>Sentiment had the added support of overnight news that the nation's output of goods and services is running at a record level. The market, however, was sluggish in moving to the upside after two straight sessions of sharp decline. Early prices Showed a lower trend. A substantial gain by duPont helped boost the average slightly by noon but the pattern did not become decisively higher unitl news of a labor settlement came from Detroit. Prices advanced on balance thereafter but with little real enthusiasm.</br></br>Dupont was up 4% as it responded to news that the House had adopted a bill which would give duPont shareholders tax relief when the chemical firmÛªs vast hold-</br></br>The Dow Jones industrial average recovered 4.78 at 707.32. The AP 60-stock average rose 1.60 to 252.40 with industrials up 2.20, rails up 1.60 and utilities up .40.