|
Dow back on record track
|
 |
April 21, 1999: 4:14 p.m. ET
Encouraging earnings push blue chips to a fresh peak, while Nasdaq soars 3 %
|
NEW YORK (CNNfn) - The stock market bounced back from its technology-spawned jitters Wednesday, as a stream of strong corporate earnings beckoned traders to flood back into blue-chip shares.
According to preliminary data, the Dow Jones industrial average gained 122.85 points to end at 10.573.41, its first record close this week. Market breadth remained strongly positive throughout the day, with advances beating declines 1,877 to 1,150 on the New York Stock Exchange on volume of 901 million shares.
Despite the Dow's record finish, the day's biggest net winner was the Nasdaq Composite, which soared 78.15 points, or 3.25 percent, to 2,487.98 as investors dipped back into the battered technology sector. The S&P 500 gained 27.47 points, 2 percent, to 1,333.64.
Bonds endured another lackluster day, drifting up and down with the stock market's moods but finally settling in negative territory. The benchmark 30-year Treasury bond slipped 4/32 of a point in price to yield 5.52 percent.
The dollar surged higher against the yen and kept the euro in retreat after a report on the global economic outlook expressed doubts about the relative growth prospects of Japan and Europe. 
|
|
|
|
|
 |
|
