Stocks Churn in Week, End Little Changed: Texas Gulf, Curtis Supply Fireworks
NEW YORK, May 2 (AP)ÛÓThe Stock Market took some sharp losses this week but balanced them out with a couple of rallies that left the averages about even as the week ended. '</br></br>NEW YORK, May 2 (AP)ÛÓThe Stock Market took some sharp losses this week but balanced them out with a couple of rallies that left the averages about even as the week ended. ' j Analysts saw the declines as part of a correction of the prolonged rise since last November. How much further this correction had to go was a matter of doubt among Wall Street experts. Optimism prevailed for the longer term, based on rising profits and the general strength of the 'economy.</br></br>j The popular market averages were at variance. The | Dow-Jones industrial average this week advanced 2.21 to 817.10. The Associated Press average of 60 stocks dipped .3 to 303.1. Standard & PoorÛªs 500-stock index rose .42 to 80.17.</br></br>The moves of all these indicators were minor. In the over-all list of 1,523 issues traded this week, however, losers outnumbered gainers by 792 to 537.</br></br>[paced a strong market rally on Friday and ended the week with a gain of 4Vs at 871/4. Since GM directors meet on Monday, the Street was full of rumors that they would declare a stock split or higher dividend or both.