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Closing Market Report

Star-Bulletin news services

Tuesday, September 19, 2000

Dow off 19;
Nasdaq gains 139

Associated Press

NEW YORK - Technology stocks rebounded today on bargain hunting, giving the Nasdaq composite index its biggest gain in more than two months. But blue chips struggled through a volatile trading day, unable to recover from a slide triggered by anxiety about corporate profits and rising oil prices.

Today's performance represented a partial recovery from the market's sharp drop in recent sessions, including yesterday, when anxious investors sent the Dow Jones industrials and the Nasdaq down more than 100 points apiece.

In today's trading, the tech-heavy Nasdaq rose 139.12, or about 3.7 percent, to close at 3,865.64, its biggest gain since July 12. But the Dow fell 19.23 to end at 10,789.29. The Standard & Poor's 500 index, which also has a large representation of tech stocks rose 15.39, or 1 percent, to 1,459.90.

Decliners narrowly beat advancers on the New York Stock Exchange, with 1,379 up, 1,494 down and 461 unchanged. NYSE volume came to 1.02 billion shares, ahead of the 960.65 million yesterday. The NYSE composite index rose 1.33 to 661.11; the American Stock Exchange composite index fell 10.10 to 950.68; and the Russell 2000 index rose 6.63 to 523.31. The 30-year Treasury bond's price was up 20/32 point, or $6.35 per $1,000 in face value; its yield fell to 5.91 percent from 5.95 late yesterday. Overseas, Japan's Nikkei rose 0.39 percent. European stocks were mixed, with Germany's DAX index up slightly and Britain's FT-SE 100 and France's CAC-40 lower.

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