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Techs sigh but Dow hits high
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April 13, 1999: 4:10 p.m. ET
Profit jitters keep Nasdaq under wraps, but blue chips still climb to new record
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NEW YORK (CNNfn) - Lingering concerns over the profit outlook in the technology sector held Wall Street back Tuesday, although the blue chips blithely ignored the jitters to touch yet another fresh record peak.
According to preliminary data, the Dow Jones industrial average gained 55.50 points to close at 10,395.01, its fifth record close in a row. Market breadth was narrowly positive on the New York Stock Exchange, with gainers outpacing losers 1,540 to 1,486 on volume of 814 million shares.
However, the other major indexes did not share the Dow's gains. Nervousness ahead of a quarterly earnings report from technology giant Intel (INTC) helped drive the technology-rich Nasdaq Composite down 15.33 points to 2,583.48, while the S&P 500 index slipped 8.80 to 1,349.83.
Support for Treasury bonds crumbled as investors salivated at a flood of competing debt from corporate issuers, largely ignoring the threat of widening conflict in the Balkans as Yugoslav troops briefly crossed into neighboring Albania. The benchmark 30-year Treasury bond fell 21/32 of a point in price, driving the yield up to 5.49 percent.
The Balkan fears helped the dollar to climb against the euro, but the jitters offered the dollar little support against a rising yen. 
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