Closing Market Report

Star-Bulletin news services

Thursday, March 25, 1999

Dow gains 169;
Nasdaq up 69

NEW YORK -- Stock prices rebounded smartly today, boosted by strong earnings reports and growing confidence that NATO air strikes in Kosovo would not reverberate on Wall Street.

The Dow Jones industrial average gained 169.55 to close at 9,836.39, the blue chips' first advance after four days of losses.

The Nasdaq composite index, heavily weighted with technology issues, was up 69.52 points at 2,434.80, and the Standard & Poor's 500 index rose 21.40 to 1,289.99.

Advancers beat decliners by a nearly 9-to-5 margin on the NYSE, with 1,889 up, 1,048 down and 589 unchanged. NYSE volume was 782.69 million shares vs. 763.6 million yesterday.

The NYSE composite index rose 8.27 to 604.86; the American Stock Exchange composite index gained 8.80 to 712.40; and the Russell 2000 index of smaller companies rose 8.59 to 392.99.

The price of the Treasury's main 30-year bond was down 23/32 point, or $7.19 per $1,000 in face value, by late afternoon, while its yield rose to 5.58 percent from 5.53 percent late yesterday. Prices and yields move in opposite directions.

Overseas, Japan's Nikkei stock average rose 3.03 percent, as the dollar edged higher against the yen following the NATO air strikes on Yugoslavia.

European markets relaxed after early anxieties over the military action, and made a strong comeback following a generous interest rate cut by Sweden. Germany's DAX index closed up 1.68 percent, Britain's FTSE 100 rose 1.16 percent, and France's CAC-40 was up 1.94 percent.

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