Closing Market Report

Associated Press

Tuesday, March 10, 1998

Dow jumps 76
to record close

NEW YORK - Computer-related stocks regained their footing after a spate of profit warnings from leading technology names, helping the stock market resume its record-setting march after a one-day pause.

The Dow Jones industrial average was rose 75.98 points to close at 8,643.12, easily topping last Tuesday's record close of 8,584.83. The Dow has now rallied more than 1,000 points, or 14 percent, from its early January low.

Advancers led decliners by nearly a 2-to-1 margin on the New York Stock Exchange, with 1,934 up, 1,041 down and 514 unchanged. NYSE volume was 631.43 million shares vs. 623.77 million yesterday.

Broader stock indicators also bounced back from yesterday's downturn, which had been fairly modest outside the technology group. The Standard & Poor's 500 and the New York Stock Exchange composite index both set new highs.

The S&P 500 list rose 11.94 to 1,064.25, and the NYSE composite index rose 5.56 to 555.00.

The Nasdaq composite index recovered much of yesterday's 28-point loss, rising 23.35 to 1,748.51. The Russell 200 index of smaller companies gained 3.50 to 464.42, less than a point from record territory; and the small-company dominated American Stock Exchange index climbed 3.38 to 712.69.

The price of the Treasury's main 30-year bond was off 1/32 point, or 31 cents per $1,000 in face value, by late afternoon, while its yield was steady at late yesterday's 5.96 percent.

Overseas, Tokyo's Nikkei stock average rose 0.1 percent.

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