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Closing Market Report

Star-Bulletin news services

Thursday, March 2, 2000

Dow gains 27

Associated Press


NEW YORK -- Stocks were mixed in a volatile session today as investors took profits from a recent rise in technology stocks but continued buying blue chips that were battered last week.

The Dow Jones industrial average was up 26.99 at 10,164.92. Broader stock indicators were mixed.

The Nasdaq composite index finished down 29.56 to close at 4,754.52, after rising as much as 44 points in early trading. The tech-heavy Nasdaq had closed at record highs in the previous two sessions.

The Standard & Poor's 500 index rose 2.57 to close at 1,381.76. Decliners beat advancers by a 4-to-3 margin on the New York Stock Exchange, with 1,275 up, 1,669 down and 523 unchanged. NYSE volume totaled 1.188 billion shares vs. 1.27 billion yesterday.

The NYSE composite index gained 2.02 to 601.50. The American Stock Exchange composite index rose 1.55 to 1,003.50, a record close; and the Russell 2000 index fell 4.31 to 583.04. The price of the Treasury's 30-year bond rose 12/32 point, or $3.75 per $1,000 in value; its yield fell to 6.13 percent from 6.15 percent yesterday.

The Dow's gains were led by AT&T, which rose after Goldman Sachs reminded investors that the company remains on its list of recommended stocks. AT&T was also helped along by the latest flurry of takeover talk in the telecommunications sector. Telecom shares headed higher amid rumors that Germany's Deutsche Telekom wants to acquire a U.S. company -- perhaps Global Crossing. Deutsche Telekom's U.S.-traded shares rose, as did Global Crossing's stock.

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