The stock market snapped out of last week's slump Monday with a rally led by blue chips. But trading set its slowest pace in more than two months. The Dow Jones average of 30 industrials, down 38.59 points last week, rebounded 30.19 to 2,892.57. Advancing issues outnumbered declines by about 5 to 3 in nationwide trading of New York Stock Exchange-listed stocks, with 918 up, 563 down and 516 unchanged. Volume on the floor of the Big Board came to 119.55 million shares, down from 142.60 million in the previous session and the lightest total since a 114.97 million-share day on April 9. Analysts said traders were doing some selective ``bargain-hunting'' in the blue chips while they awaited a broad array of economic reports due from the government this week. Among the monthly statistics on the agenda for Wall Street are the producer price index of finished goods, due on Thursday, and the consumer price index and the nation's trade balance, both on Friday. If all goes as expected, brokers say, the data will support the popular view that economic growth is plodding along at a pace slow enough to permit inflation and interest rates to ease. However, they add, any surprises in the numbers could unsettle some of the optimism generated during the rally that carried stock prices to new highs as recently as last Monday. Nationwide, consolidated volume in NYSE-listed issues, including trades in those stocks on regional exchanges and in the over-the-counter market, totaled 145.41 million shares. Boeing led the active list, up 3 at 58{ on turnover of more than 2.3 million shares. The stock, which was split 3-for-2 effective with Monday's trading, reponded to word of a $4.8 billion order from Korean Airlines for Boeing 747-400 jets. Energy stocks attracted buyers after dropping last week in line with falling oil prices. Exxon gained ~ to 47~; Chevron 1&lsqb; to 70|; Atlantic Richfield 2 to 116~; Amoco ~ to 51{, and Texaco &rsqb; to 57~. Elsewhere among the blue chips, International Business Machines rose 1&lsqb; to 119~; Coca-Cola { to 44{; General Motors | to 49&lsqb;; American Telephone & Telegraph \ to 42\, and DuPont { to 39|. Microcom Inc. tumbled 8{ to 9} as the most active issue in the over-the-counter market. Late Friday the company projected a loss for the fiscal quarter ending June 30, saying major domestic distributors were overstocked with its software and modem products. As measured by Wilshire Associates' index of more than 5,000 actively traded stocks, the market increased $22.14 billion, or 0.64 percent, in value. The NYSE's composite index of all its listed common stocks gained 1.37 to 197.42. Standard & Poor's industrial index rose 3.79 to 421.22, and S&P's 500-stock composite index was up 2.92 at 361.63. The NASDAQ composite index for the over-the-counter market added 1.92 to 462.79. At the American Stock Exchange, the market value index closed at 362.32, up 1.15.
