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Creeping up toward 10,000
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March 11, 1999: 4:11 p.m. ET
The Dow rallies, but investors get spooked at the highs; S&P 500 sets record
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NEW YORK (CNNfn) - A powerful rally, which at one point lifted the Dow to within 70 points of 10,000, ended off its highs on Wall Street but left market bulls unfazed and likely ready to attack the milestone within days again.
According to preliminary data, the Dow Jones industrial average closed 124.33 points, or 1.3 percent, higher at 9,897.17, a record high. The index rallied to within 70 points of 10,000 before retracing its steps late in the day.
On the New York Stock Exchange, advances outnumbered declines, 1,675 to 1,321 as 909 million shares changed hands.
The Nasdaq Composite, which also rallied in the morning, closed 6.12 points higher at 2,412.24. The S&P 500 index scored a gain of 10.75 points to close at 1,297.59, also an all-time high.
The bond market fell, pressured by weakness in the dollar and the boisterous performance of stocks. The bellwether 30-year Treasury bond lost 4/32 of a point in price, for a yield of 5.56 percent.
The dollar tumbled against the euro, hurt by the sudden resignation of German Finance Minister Oscar Lafontaine. The dollar also lost some ground against the yen. 
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