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Closing Market Report

Star-Bulletin news services

Friday, November 3, 2000

Dow off 62.56

Associated Press

NEW YORK -- Investors, cautious about any major stock market moves before Election Day, traded gingerly today, giving Wall Street a mixed peformance.

The market closed a listless session with no standout sectors. The Dow Jones industrial average ended down 62.56 at 10,817.95. The Nasdaq rose 22.56 to 3,451.58. The Standard & Poor's 500 was down 1.63 at 1,426.69.

Decliners outnumbered advancers in a 13-to-11 ratio on the New York Stock Exchange, with 1,432 down, 1,345 up and 506 unchanged.

Volume was to 987.98 million shares vs. 1.14 billion yesterday. The NYSE composite index fell 1.88 to 661.35, the American Stock Exchange composite index rose 3.08 to 919.58 and the Russell 2000 index gained 0.78 to 507.75.

The Treasury's 10-year note fell to 99 14/32; its yield rose 9 basis points to 5.82 percent. The 30-year bond fell 1 3/32 to 105 14/32; its yield rose 8 basis points to 5.86 percent.

"The mood of the market seems to be somewhat trendless. We're in a challenging climate in which it is tough to make money," said Alan Ackerman, executive vice president at Fahnestock & Co. "Few players are putting money to work today ahead of the election on Tuesday."

Investors, who are still shaken following a spate of disappointing earnings reports, also are waiting for results expected next week from technology leaders Cisco Systems and Dell before they "fine-tune what the next step in the market will be," said Tom Galvin, chief equity strategist at Credit Suisse First Boston.

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