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Closing Market Report

Star-Bulletin news services

Thursday, November 2, 2000

Dow off 18.96;
Nasdaq soars 96

Associated Press

NEW YORK -- Buyers moved selectively back into the stock market today, snapping up financial and technology issues after the market's dip on yesterday. Selling in basic material and retailing stocks left the overall market mixed.

The Dow Jones industrial average closed down 18.96 at 10,880.51. The Nasdaq composite index rose 95.63 to 3,429.02 and the Standard & Poor's 500 index was up 7.10 at 1,428.32. Advancers outnumbered decliners by more than 4 to 3 on the New York Stock Exchange, with 1,760 up, 1,114 down and 438 unchanged. Volume was 1.14 billion shares compared with 1.19 billion yesterday.

The NYSE composite index fell 1.27 to 663.23, the American Stock Exchange composite index rose 2.88 to 916.50 and the Russell 2000 index rose 11.79 to 506.97.

The Treasury's 10-year note rose 1/32 to 100 3/32; its yield was unchanged at 5.74 percent. The 30-year bond fell 3/32 to 106 17/32; its yield rose 1/32 to 5.79 percent.

The market seemed in search of a direction a day after the Dow and Nasdaq fell on a mix of profit-taking and a profit warning by WorldCom. Tech issues led the gainers, with Intel up $1.81 at $46.69 and Sun Microsystems rising $3.19 to $109.06. Financial issues were higher across the board. Banker Merrill Lynch rose $1.31 to $69.81. But weakness in materials companies issues like aluminum manufacturer Alcoa, which fell $1.31 to $27.75, and energy producer ExxonMobil, down $3.88 to $88.19, kept the Dow treading water.

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