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Closing Market Report

Star-Bulletin news services

Friday, June 23, 2000

Dow up 28;
Nasdaq off 91.5

Associated Press


NEW YORK - Stocks were mixed today, with blue-chip shares rising and technology stocks coming under selling pressure for the second straight day as investors locked in profits following a weeks-long runup. Amazon. com plummeted 19 percent after an influential analyst warned of risks facing the online retailer.

At the close, the Dow Jones industrial average finished up 28.63 at 10,404.75. For the week, Wall Street's best-known indicator slipped 44.55. The Standard & Poor's 500 index was down 10.70 at 1,441.48, while the technology-laden Nasdaq composite fell 91.50 points, or 2.3 percent, to 3,845.34.

Decliners beat advancers by a 7-to-5 margin, with 1,599 down, 1,221 up and 519 unchanged on the New York Stock Exchange, where volume came to 849.38 million shares, down from 1.01 billion shares yesterday. The NYSE composite index slipped 1.58 to 639.96; the American Stock Exchange composite index rose 0.50 to 933.41 and the Russell 2000 index was down 4.60 at 510.41.

The 30-year Treasury bond price fell 1 3/32 points, or $10.93 per $1,000 face amount, pushing yields to 6.04 percent - the first time they have topped 6 percent in more than three weeks. The 10-year note fell 18/32 point as yields rose 8 basis points to 6.18 percent. plunged $8.12 to $33.87 after Lehman Brothers fixed-income analyst Ravi Suria released a research note describing "extremely weak and deteriorating" credit.

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