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By BLOOMBERG BUSINESS NEWS | January 7, 1997
NEW YORK -- U.S. stocks rose yesterday and the Dow Jones industrial average reached a record as Morgan Stanley & Co.'s Byron Wien forecast the average could reach 7,500 this year.International Business Machines Corp. led the 30-stock average's advance for a second day, much as the company did late last year. The industrials rose 23.09 to 6,567.18, erasing most of a 90-point slide.A retreat in bonds and a series of computer-guided "sell" orders derailed the rally for a few hours during the afternoon.
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BUSINESS
By BLOOMBERG NEWS | May 31, 1997
NEW YORK -- U.S. stocks rallied yesterday as investors took advantage of a morning rout in computer issues to snap up discounted shares.A second straight rise in bonds sent bank, telephone, beverage and drug shares higher. The Dow Jones industrial average managed a 0.86-point gain after an 88-point drop in the first hour of trading. The average closed at 7,331.04. The broader Standard & Poor's 500 index rose 4.20 to 848.28.The gains masked carnage in Intel Corp., which plunged after the top maker of microprocessors said its sales were surprisingly weak in the second quarter.
BUSINESS
By BLOOMBERG NEWS | June 6, 1997
NEW YORK -- U.S. stocks rose yesterday as investors snapped up shares of the computer-related companies that led the market's recent drop.Microsoft Corp., Lattice Semiconductor Corp. and Dell Computer Corp. paced the rise, amid renewed optimism that key companies in the computer industry will report strong second-quarter profits.The Dow Jones industrial average rose 35.63 to 7,305.29, only its second gain in seven sessions. The 30-stock average gave up about half of its early afternoon gain and is about 80 points shy of its all-time high of May 27.The advance came a day before the Labor Department's release of the monthly employment report, a gauge of economic strength that analysts use to speculate about the direction of interest rates.
BUSINESS
By BLOOMBERG NEWS | September 3, 1997
NEW YORK -- Although overshadowed by the rampage of the Dow Jones industrial average, other major stock indexes posted substantial gains yesterday.While the Dow jumped 257.36 to 7,879.78, the Standard & Poor's 500-stock index rose 28.11 points, or 3.13 percent, to close at 927.58 points. The Nasdaq composite index, home to many small companies and well-known high-technology and health care concerns, was up 30.77 points, or 1.94 percent, to close at 1,618.09.Small stocks continued their roll as the Russell 2,000 index rose 4.62 points to close at a record 428.05, up 1.09 percent.
BUSINESS
By BLOOMBERG NEWS | September 10, 1997
NEW YORK -- U.S. stocks rose after government reports showed unexpectedly strong productivity gains and the smallest labor cost rise in three years, signaling that strong profits are on tap.Intel Corp. rose $1.8125 to $97.75 and was among the leaders after it introduced a product to link computers that improves efficiency by 30 percent.The Dow Jones industrial average rose 16.73 points, or 0.2 percent, to 7,851.91; the Standard & Poor's 500 index rose 2.42, or 0.3 percent, to 933.62; and the Nasdaq composite index gained 10.87, or 0.7 percent, to 1,656.
BUSINESS
By BLOOMBERG NEWS | October 3, 1997
NEW YORK -- U.S. stocks rose yesterday for the fourth time in five days as lower interest rates spurred gains in BankAmerica Corp. and other financial shares. A dour profit forecast from insurer Cigna Corp. limited the market's advance.The Dow Jones industrial average rose 12.03 to 8,027.53, its highest close since Aug. 11. The 30-stock average swung in a 49.61-point range -- its narrowest in almost two months.Broad market indexes set records. The Standard & Poor's 500 index rose 5.05 to 960.46; the Nasdaq composite index gained 12.11 to 1,702.
BUSINESS
By BLOOMBERG NEWS | February 4, 1998
NEW YORK -- U.S. stocks rose for a second day yesterday, led by bank and semiconductor shares on expectations that their profits will weather an economic slowdown in Asia.Intel Corp. and J. P. Morgan & Co., which slumped in recent months, led the day's advance.The Dow Jones industrial average rose 52.57 to 8,160.35, more than erasing a 50-point drop at the start of trading. The Dow is now within 100 points of its Aug. 6 record.The Standard & Poor's 500 index rose 4.72 to 1,005.99, its second straight record.
BUSINESS
By BLOOMBERG NEWS | July 28, 1998
NEW YORK -- U.S. stocks finished mixed yesterday after a late-day surge led by computer companies and American Express Co., which reported better-than-expected earnings.The Dow Jones industrial average rose 90.88, or 1 percent, to 9,028.24, after having been down 81 points.The Standard & Poor's 500 index rose 6.47 to 1,147.27, and the Nasdaq composite index rose 2.27 to 1,933.26, snapping back from a 43-point loss.The rally was narrow. Decliners outnumbered advancers by a 2-to-1 ratio on the New York Stock Exchange.
BUSINESS
By BLOOMBERG NEWS | August 25, 1998
NEW YORK -- U.S. stocks were mixed yesterday as Texaco Inc. and other companies that depend on economic growth to increase profits fell, while drugmakers such as American Home Products Corp. gained.The Dow Jones industrial average rose 32.96 to 8,566.61.The Standard & Poor's 500 index gained 6.96 to 1,088.14 but the Nasdaq composite index declined 6.79 to 1,790.82.Among other broad indexes, the Russell 2,000 index of small capitalization stocks slid 1.94 to 393.70; the Wilshire 5,000 index gained 38.66 to 10,035.
BUSINESS
By BLOOMBERG NEWS | September 23, 1998
NEW YORK -- U.S. stocks were mixed yesterday as investors bought drugmakers such as Pfizer Inc. as havens from slowing )) economies worldwide.Coca-Cola Co., which gets 85 percent of its revenue abroad, dragged down the Dow Jones industrial average. The Dow fell 36.05 to 7,897.20, with Coke accounting for almost one-third of the drop.The Standard & Poor's 500 index rose 5.74 to 1,029.63. The Nasdaq composite index climbed 17.37 to 1697.80.Among other broad indexes, the Russell 2000 index of small companies outperformed the Dow, S&P 500 and Nasdaq, rising 5.60, or 1.5 percent, to 368.24; the Wilshire 5,000 index gained 71.12 to 9,452.
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