Earlier Losses Eased By Late Market Rally: Autos, Steels Down Glamor Stocks Stall Conglomerates
A. late rally cut the stock marketÛªs losses Thursday after prices had dropped sharply in reaction to the European monetary crisis and the marketÛªs own two-week rise.</br></br>me i/ow uones liiuu^inai average, do w it nearly six points before noon, finished with a loss of 1.62 points at 965.13. Eleven of the 30 stocks in the average rose. 16 fell and three wore unchanged.</br></br>Standard and FoorÛªs 500-sloek composite was down 0.17 point to 105.97 and the New York Stock Exchange index lost 0.05 point to 59.86.</br></br>Trading volume, helped by the usual backlog from WednesdayÛªs closing, bounded up to 18.32 million shares from 15.12 million turned over on Tuesday. The ExchangeÛªs ticker tape was two minutes late in the morning, when prices were dropping, and three minutes late at the close, when they were coming back.</br></br>Declining stocks led ad vances throughout the day, bul never built up a big margin. At the close, 749 stocks were down and 686 were higher, compared with 772 up and 570 down on Tuesday. There were 155 new 1968 highs, against 156 in the previous session, and nine new lows, up from five.