NEW YORK, NOV. 11 -- Wall Street broke a three-day losing streak today and the dollar gained, but trading was thin with dealers awaiting Thursday's U.S. trade figures and the outcome of talks on cutting the U.S. budget deficit.
The Dow Jones industrial average, which lost 107 points in the previous three sessions, advanced 21.05 points to close at 1899.20 after surging almost 50 points at one stage.
Trading fell to 147.9 million shares from 184.3 million the previous day. Many investors took the day off because of the Veterans Day holiday.
Advancing issues outnumbered declines by 5 to 3 in the broader market as investors were relieved by the dollar's modest recovery above historic lows touched earlier in the week.
Late in the day, the New York Stock Exchange said it will resume normal trading hours -- 9:30 a.m. to 4 p.m. -- on Thursday. The NYSE cut the length of the trading day because of the huge trading volume that accompanied the market's wide swings around the Oct. 19 crash.
The dollar, which rebounded Tuesday from record lows after President Reagan said he did not want to see it fall further, rose again to 1.6755 West German marks, up from 1.6645 at Tuesday's close, and to 135.05 Japanese yen from 134.45.
Traders said investors were hoping for an announcement soon that White House and congressional leaders had agreed on a plan to cut the huge federal budget, which is viewed as a drag on the U.S. and global economies.
Gainers among the blue chips included American Express, up 1 1/4 at 23 3/4; General Electric, up 1/2 at 43 7/8; International Business Machines, up 1 1/2 at 119 1/4; Philip Morris, up 1/4 at 86 1/2; and American Telephone & Telegraph, up 3/8 at 28 7/8.
Warner-Lambert chalked up one of the day's standout advances, rising 5 to 69. Analysts said a study involving a Warner-Lambert anticholesterol drug apparently is showing very encouraging results.
Airline issues were generally weak. AMR dropped 1 1/2 to 32 1/2; Allegis 3/8 to 71 1/2; Delta Air Lines 3/8 to 37 1/8; NWA 5/8 to 37 3/8, and Trans World Airlines 3/4 to 17 1/2.
As measured by Wilshire Associates' index of more than 5,000 actively traded stocks, the market gained $22.32 billion, or 0.96 percent, in value.
The NYSE's composite index of all its listed common stocks added 1.40 to 135.46.
Standard & Poor's index of 400 industrials rose 3.53 to 275.81, and S&P's 500-stock composite index was up 2.50 at 236.51.
The Nasdaq composite index for the over-the-counter market climbed 2.61 to 317.80. At the American Stock Exchange, the market value index closed at 246.26, up 1.72.