Market Gains Wipe Out Previous Week's Loss
NEW YORK (AP)ÛÓThe stock market posted a solid gain yesterday responding to news on the money-supply that suggested a possible improvement in the outlook for interest rates and inflation.</br></br>The Dow Jones average of 30 industrials rose 6.84 to 847.54. stretching its gain for the week to 15.85 points.</br></br>The pace of trading picked up as the market moved ahead. The dayÛªs volume on the New York Stock Exchange came to 31.86 million shares, against 28.75 million in the previous session.</br></br>The Fed has been attempting to curb inflation by pushing up shortterm interest rates in order to discourage rapid monetary growth.</br></br>Brokers said the latest figures heightened hopes that the effort was succeeding, and that the Fed might not feel the need to push interest rates much higher.