Closing Market Report

Star-Bulletin news services

Monday, April 26, 1999

Dow up 28.92; Nasdaq,
S&P hit records

Associated Press

NEW YORK - Renewed strength in technology shares took the Nasdaq composite index into record territory today, extending a hearty rebound from last Monday's 5.6 percent plunge. Blue-chip stocks ended moderately higher after a day of mixed reactions to earnings reports.

The Nasdaq composite was up 61.36 to close at 2,652.05, its first close above 2,600 and easily surpassing its previous high of 2,598.81, set April 12.

The Dow Jones industrial average was up 28.92 at 10,718.59, within 9 points of a new high, after wobbling no more than 40 points up or down throughout the day. The Dow ended Friday's session down 37 points at 10,689.67 but it reached two record closing highs last week, the latest one on Thursday at 10,727.18. The Standard & Poor's 500 index was up 3.19 at 1,360.04, also a record.

Decliners beat outnumbered advancers by a 7-to-6 margin on the New York Stock Exchange, with 1,394 up, 1,595 down and 541 unchanged. NYSE volume totaled 710.72 million shares vs. 745.89 million yesterday.

The NYSE composite index fell 0.47 to 638.83, but the American Stock Exchange composite index rose 1.24 to 771.60. The Russell 2000 index gained 3.24 to 434.97.

The 30-year U.S. Treasury bond rose 9/32, or $2.81 per $1,000 security, pushing its yield down 2 basis points to 5.57 percent.

In a rare departure from the normal scramble on Wall Street, trading was halted for one minute of silence at noon on the New York Stock Exchange, American Stock Exchange, Nasdaq Stock Market and Chicago Mercantile Exchange in memory of the Colorado high school shooting victims.

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