Closing Market Report

Star-Bulletin news services

Monday, October 26, 1998

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Dow off 20.08

NEW YORK -- Blue-chip shares edged lower, but most stocks rose today in a session interrupted by computer malfunctions on the New York Stock Exchange.

The Dow Jones industrial average fell 20.08 points to 8,432.21 despite overcoming a 44-point loss and gaining as much as 68.

The Standard & Poor's 500 rose 1.65 to 1,072.32.

The technology-heavy Nasdaq composite index rose 31.12, or 1.84 percent, to 1,724.98.

Advancers outnumbered decliners by a 4-to-3 margin on the New York Stock Exchange, with 1,790 up, 1,332 down and 411 unchanged.

The NYSE composite index rose 0.19 to 530.01. NYSE volume totaled 600.22 million shares, down from a modest 632.32 million on Friday.

The Russell 2000 rose for the ninth straight session, gaining 5.02 to 372.07, and the small-company dominated American Stock Exchange composite index rose 6.34 to 634.55.

The 30-year Treasury bond jumped 1 3/32 to 106 1/32, with the yield falling to 5.10 percent.

The NYSE reportedly began having equipment problems about 12:35 p.m. and trading stopped about 45 minutes later.

It was the first time in recent memory that trading was halted due to equipment failure on the NYSE, which has spent more than $1 billion in the last 10 years upgrading its systems.

The outage didn't completely prevent investors from buying and selling NYSE-listed stocks. Trading continued on smaller regional stock exchanges and electronic networks such as the Nasdaq Stock Market.

Overseas, Tokyo's Nikkei stock average fell 2.1 percent.



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