Word: second-half
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Changing Tune. The biggest reason for the stock market's optimism was the brightening tone of the whole economy. The mood was evident not so much in statistics-though they were bolstering-as in the thoughts and words of businessmen themselves. Previously, forecasters had predicted a second-half readjustment; now the talk was of continuing good business with perhaps even a slow, steady rise to the end of the year. As the Manhattan First National City Bank noted: "Business reports through June have been sufficiently favorable to moderate the pessimism which appeared after the disappointing automobile news...
Steel production reached 63 million tons in the first half, 3,000,000 tons over the 1955 record. Second-half production will be down, but, barring a prolonged strike (see NATIONAL AFFAIRS), should still total 54 million tons, making 117 million tons, the same as last year's peak. Construction, spurred by the great expansion in commercial building, was going along at a $44.5 billion-per-year clip, ahead of the 1955 record by $1.5 billion despite the lag in housing starts. New plant and equipment investment was running 22% in front of 1955. The electronics industry was heading...
...Haven, March 10--Yale's strategy of centering its second-half attack around sophomore star Johnny Lee paid rich dividends tonight. The 6 foot 3 inch redhead scored 41 points, 30 in that period to lead the Eli five to a convincing 99 to 73 victory over the varsity here...
High scorers for the varsity were Haughey with 19 points and Hastings with 15. Billy Riggs, who played his best game of the year, scored 13, while "Ike" Canty tallied 12. Norman Howard, sparking the second-half comeback, was high man for Tech, with 17. Vergun, who before the game had averaged 32, scored 13, and only three baskets from the floor. Strong defensive play by Crimson forward Dick Hurley did much to stop the M.I.T. star...
...hustle and accurate shooting that has enabled the Crimson to come from behind to win its previous games with second-half bursts ought to be enough to win, and the home team must rule as the favorite...