Closing Market Report

Associated Press

Tuesday, June 10, 1997

Dow gains 60.77
to top 7,500

NEW YORK -- The Dow Jones industrial average closed above 7,500 for the first time today as stocks staged another record-setting advance despite a weak day in the technology sector and the bond market.

The Dow nearly surrendered a 94-point morning gain, but spiked higher over the last hour of trading, rising by 60.77 points to close at 7,539.27 and setting its third straight record high.

Yesterday, the blue-chip barometer crossed the 7,500 mark for the first time, but slipped below by the close.

Most broad-market indicators also padded yesterday's record highs after threatening to turn lower in the afternoon.

Advancers led decliners by a 6-to-5 margin on the New York Stock Exchange, with 1,405 up, 1,169 down and 822 unchanged. NYSE volume was 526.98 million shares vs. 465.58 million yesterday.

The Standard & Poor's 500-stock list rose 2.36 to 865.27, and the NYSE's composite index rose 1.59 to 451.76. It was the third record close in a row for both measures.

The American Stock Exchange composite rose 1.54 to 621.11, setting its second straight high after a year-long drought.

But the Nasdaq composite index, which also closed at a record high yesterday, fell 10.32 to 1,401.72, weighed down by a drop in several leading computer-related issues.

Without any major economic reports or big corporate deals like those announced yesterday to motivate investors, the tone of the session was notably sluggish.

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