Business continues to look to the stockmarket for clues of business prospects for the remainder of the year. But the stockmarket refuses to commit itself.
There is, in fact, great difficulty in saying the stockmarket is so-and-so, since it no longer acts as a unit with any degree of consistency. On a day when one group of stocks—e. g., the oils —are strong, another group or groups will be weak. Moreover, within a single group of stocks, there are frequently opposite tendencies in the prices of different stocks....
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