Business: Up from the Bottom

The stock market, which has drifted steadily lower for seven weeks, last week apparently found bottom. In two days stocks bounded up 16.40 points to 632.85 on the Dow-Jones industrial index, the biggest increase in seven months. The slide had not been caused by heavy selling but by a lack of buyers; volume had been thin. Many a broker guessed that the 615-to-620 level, where the market had found strong support last week, may turn out to be a firm bottom from which the market will rise to new peaks.