| [ HUFSan ] in KIDS 글 쓴 이(By): HUFSan (~ 푸힛 ~) 날 짜 (Date): 1998년 4월 22일 수요일 오후 12시 08분 26초 제 목(Title): Dow Jones Industrial Average. Dow Index Romps to Another Record Close By Huw Jones NEW YORK (Reuters) - The Dow Jones industrial average jumped to another new high Tuesday, as the blue-chip market tracked the rise in International Business Machines Corp.'s shares to an all-time high. The Dow ended up 43.10 points at 9,184.94. In the broad market, advancing issues led declines 1,553 to 1,363 on active volume of 674 million shares on the New York Stock Exchange. The Nasdaq composite index rose 16.73 points to 1,903.87, its third record high in a row. The Standard and Poor's 500 stock index rose 2.691 to 1,126.34, also a new high. The driving force behind Wall Street's rally was IBM, which surged one day after it posted better-than-expected first-quarter profits. IBM leaped to an all-time high of 118-1/2 before closing at 118, a gain of 8-3/8 on heavy volume of more than 10 million shares on the NYSE. IBM said after the close Monday it earned $1 billion in the first quarter, down 13 percent from a year earlier. But the drop had been expected and its income of $1.06 a share was 1 cent better than expected by Wall Street analysts. But despite rewriting the record books, traders said the overall market appeared to be losing momentum. "No doubt that the market is definitely churning, with just a few stocks taking this higher," Joseph Barthel, chief investment strategist at Fahnestock & Co., said. "What the market is doing is having very vicious rotations," he said. "Groups of stocks either fall or rise, depending on how the market perceives earnings." Investors took profits in the drug sector, which has surged in recent sessions, but Pfizer Inc.'s promising Viagra impotence drug kept the stock moving to new highs. Pfizer ended up 2-5/8 at 116 after hitting a new lifetime high of 121-3/4. "It seems to be a churning type of action in here and, when you see that, the market is poised to take a turn in a different direction," Kenneth Ducey, director of equity trading at BT Brokerage, said. On the Big Board, Cendant Corp. was again the most active NYSE issue as the stock continued to recover after last week's big fall. Cendant ended up 5/16 at 23-13/16 with 21 million shares changing hands. Internet stocks and just about anything else orbiting cyberspace continued to post strong gains. Financial data provider Market Guide Inc. soared 15-1/16 to 23 after saying it will provide financial research tools to America Online Inc.'s personal finance section. 7th Level Inc. rose 7-7/16 to 9-1/4, a 410 percent rise, after the company said WavePhore Inc. will distribute 7th Level's character animation technology as part of the WaveTop Internet broadcast system to personal computer users at home. The market was also digesting a big serving of first-quarter earnings on "Super Tuesday" when many of the blue-chip companies report earnings. Exxon Corp. rose 4/16 to 73-5/16 after its earnings exceeded Wall Street estimates. Citicorp rose 2-1/4 to 160-1/4 after reporting a big rise in profits. Chase Manhattan Corp. gained 4-9/16 to 139-1/8 after its first-quarter profits topped analysts' forecasts. The American Stock Exchange index rose 1.84 points to 749.79. The NYSE Composite index of all listed common stocks was up 0.79 of a point to 584.80, a new high. The average share was up 6 cents. The Wilshire Associates Equity Index -- the market value of NYSE, American and Nasdaq issues -- was at a new high 10,756.645, up 28.478, or 0.27 percent. -Warren G, DRU Hill, Graham Bonnet, Boyz List, Boston Kickout, Areosmith,Shawn Colvin, FireHouse, Celine Dion, Rod Stewart, Toni Braxton, Kenny G, Mark Owen, Donna Lewis, Scolpions, Gloria Estefan, REm, Suede, Enya, Take That...n' HUFSan |