Closing Market Report

Star-Bulletin news services

Tuesday, November 3, 1998

Dow unchanged

NEW YORK -- Most stocks rose today, but blue-chip shares encountered some profit-taking, halting a four-session winning streak by several leading measures.

The Dow Jones industrial average finished unchanged at 8,706.15 after drifting between a 38-point gain and a 28-point loss. The last time the Dow ended a session exactly where it began was nearly two years ago on Dec. 2, 1996, when the blue-chip barometer was 2,200 points lower at 6,521.70.

Advancers led decliners by a slim 10-to-9 margin on the New York Stock Exchange, with 1,615 up, 1,452 down and 487 unchanged. NYSE volume totaled 695.47 million shares, down from 751.96 million yesterday.

Broader stock measures finished mixed in the lifeless Election Day session. The technology-heavy Nasdaq composite index suffered the steepest loss after posting four sessions of big gains. The Nasdaq fell 12.48 to 1,788.43, and the Standard & Poor's 500 fell 0.76 to 1,110.84, also halting a four-session winning streak. The NYSE composite index rose 0.56 to 551.80.

The Russell 2000 index of smaller companies rose 0.74 to 387.56, the American Stock Exchange composite index rose 7.80 to 664.42.

The price of the Treasury's main 30-year bond was up 11/32 point, or $3.44 per $1,000 in face value, by late afternoon, while its yield dropped to 5.22 percent from 5.25 percent late yesterday.

The Dow had gained 340 points in the prior four sessions, extending the rebound from an early October slide to about 1,200 points, or more than 16 percent.

Germany's DAX index fell 1.2 percent today, Britain's FT-SE 100 fell 0.4 percent, and France's CAC-40 rose 0.4 percent.



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