The basic causes of dullness are,|the European situation and, to a lesser extent, the domestic political uncertainty. Last week's most heartening of business-developments was the strength of domestic copper buying. Forward buying by business has 2572 been in the upswing for over 2% pu months, Textiles, automobiles, electrical equipments, refrigerators, tires, chem-feals, copper, steel bookings and machine tools have done considerably better than seasonal expectations.
Drawbacks on the business picture were the building industry, farm equipments and heavy industries.
Statements of first half-year earnings, which are due this month, will be, on average, encouraging.
No liquidation pressure is apparent, and stocks apparently are held in strong hands, Pressure from investment funds is still growing.
Business is swinging upward in Britain, France and America.
The factual background is not characteristic of a serious downward break.
Barron's index, adjusted for trend, is placed at 72.6.
Text read from the printed page and cleaned; old type leaves the occasional error.