Early Stock Gains Wane; Volume Off
Commenting on the 85-point spurt Friday and Monday, Kenneth P. Ducey, senior vice president in the trading department of S. G. Warburg & Company, said, ”The market came out of a good rally; now you’re back to the same condition before the rally.” Pointing to the steep drop in volume from 188.3 million Tuesday to only 135.5 million yesterday, he said, ”It looks like the buying power’s dried up.” ”Nothing’s changed,” he said. ”There’s a little more favorable news out of the Middle East; it looks like they’re talking. You have talk of easing interest rates but no action.”forex philippines
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