On four of the five trading days last week, Wall Street was warmed by a continuance of the spring rise in stocks. The Dow-Jones industrial average climbed 6.04 points to within a point of the year's high of 498.56 before being nipped by profit-taking. As it stood, stocks wound up the week at 497.54, some 43 points higher than the low for the year. Main reason: a continuing chorus of cheery first-quarter earnings reports.
For U.S. Steel Corp., biggest of the steelmakers, Chairman Roger M. Blough announced the best three months in Big Steel's 56-year history. With output averaging 95.7%...
To continue reading:
or
Log-In
