US stock trading yesterday accelerated through the day and finished higher buoyed by the surged in AT and T Corp and with blue chips leading the way. Enthusiasm for stocks by the general public appeared unabated as money continued to pour into mutual funds and other investment funds.
Pension and profit sharing funds are also making their traditional start of the year in vestments of member contributions, analysts said.
Also influencing the market, but to a lesser extent, were last year's tax loss sellers". These are investors who sold off money losing stocks late last year to offset the tax bite from their winning investments, and are now looking to reinvest their cash.
The Nasdaq composite index gained 6.74 to 1,058.88 while the American Stock Exchange market value index rose 2.74 to 550.9 7.
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