Closing Market Report

Star-Bulletin news services

Friday, January 8, 1999

Dow rises 105;
records fall

NEW YORK - The buying party continued on Wall Street today, pushing major indexes to all-time highs for the fifth time in as many trading days.

The Dow rose 105.56 points to close at 9,643.32, beating Wednesday's closing record of 9,544.97 and logging its third record in the first week of the year. Investors were buying after a new employment report showed that the U.S. economy remains healthy.

Broader indexes lost a little steam in the afternoon and threatened to close lower, but then rallied to finish at record highs. Technology stocks continued to lead the market, but shares from other industries performed well, too.

Advancers led decliners by 1,525 to 1,523 on the New York Stock Exchange, with 536 unchanged. NYSE volume totaled 934.01 million shares vs. 850.84 million yesterday.

The Standard & Poor's 500 rose 5.36 to 1,275.09, and the technology-heavy Nasdaq composite index gained 18.32 to 2,344.41. The closing marks were records for both broad-market indexes.

The NYSE composite index rose 1.87 to 611.06, and the American Stock Exchange composite index climbed 3.78 to 707.76. The Russell 2000 index of smaller companies rose 3.40 to 431.23.

The price of the Treasury's main 30-year bond fell 23/32 point, or $7.18 per $1,000 in face value, by late afternoon, while its yield rose to 5.27 percent from 5.22 percent late yesterday. Prices and yields move in opposite directions.

Overseas, Japan's Nikkei stock average fell 1.07 percent.

E-mail to Business Editor

Text Site Directory:
[News] [Business] [Features] [Sports] [Editorial] [Do It Electric!]
[Classified Ads] [Search] [Subscribe] [Info] [Letter to Editor]
[Stylebook] [Feedback]

© 1999 Honolulu Star-Bulletin