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Friday, October 23, 1998 Published at 20:32 GMT 21:32 UK
Business: The Markets
Wall Street market report
![[ image: ]](/olmedia/95000/images/_98167_usre150.gif) |
The Dow snapped its seven session winning streak Friday as blue chips finally succumbed to profit-taking, but the pullback was orderly in light trade. "It's a little bit of a retracement from a very nice move up in a very short time, so it's not unexpected," said Guy Truicko, portfolio manager at Unity Management. "With the Fed looking like it might ease again in November, we are in a very favourable mode right now for equities, and buying on the dips is probably the right strategy," he added. The Dow closed unofficially off 80.85 points at 8452.29. REUTER 232021 GMT oct 98
Blue-chip stocks closed lower on Friday, in a modest pullback after seven consecutive sessions of gains. he Dow Jones industrial average ended down 80.85, or almost 1 percent, at 8,452.29. In the broader market, declining issues led advances 16 to 12 on volume of 636 million shares on the New York Stock Exchange. The technology-laced Nasdaq composite index ended down 8.79 points at 1,693.85.
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