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Closing Market Report

Star-Bulletin news services

Friday, March 31, 2000

Dow falls 58;
Nasdaq up 115

Associated Press


NEW YORK -- Technology stocks edged back from the brink today, pulling the Nasdaq composite higher for the first time since last Friday. Investors turned toward well-established computer makers and networking companies, shunning newer Internet businesses that were seen as riskier investments at the end of a volatile week.

The Nasdaq composite index rose 115.00, or 2.6 percent, to close at 4,572.89. In earlier trading, the Nasdaq had fallen as much as 76 points and appeared to be in danger of extending its losing streak. The Nasdaq finished the week with a loss of 390 points, and is 9.4 percent below its March 10 record of 5,048.62.

Other stock indicators were mixed. The Dow Jones industrial average gave up solid early gains and closed down 58.33 at 10,921.92. The Standard & Poor's 500 rose 10.66 to 1,498.58. For the first quarter, which ended today, the Dow is down 5 percent, the S&P 500 index is up 2 percent and the Nasdaq is 12 percent higher.

Advancers beat decliners by a 2-to-1 margin on the New York Stock Exchange today, with 1,976 up, 1,071 down and 421 unchanged. NYSE volume totaled 1.204 billion shares vs. 1.176 billion yesterday. The NYSE composite index rose 2.03 to 647.70; the American Stock Exchange composite index gained 9.04 to 1,005.03; and the Russell 2000 index climbed 7.51 to 538.08. The 30-year Treasury bond's yield fell 3 basis points to 5.84 percent today; its price rose 19/32 point, or $5.94 per $1,000 face amount.

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