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Friday, November 6, 1998 Published at 15:16 GMT Business: The Markets Wall Street market report ![]()
US shares rose again on Friday to end a good week on Wall Street. The Dow Jones index ended up almost 60 points at 8975, after briefly breaching the 9000 barrier. The Dow has now risen more than 1300 points over the last four weeks, roaring back after a sharp fall in early Autumn. The market responded again positively to US Federal Chairman Alan Greenspan's comments that market fears of a global economic crisis might have lessened. But it was a quieter day on Wall Street as some investors chose to take profits. The star performer was Geron. Its shares soared on news that the group had achieved a stunning scientific breakthrough. Geron has rights to a new process that could lead to a limitless supply of human tissue for transplantation. It opens the door to growing from scratch everything from heart muscle to bone marrow and brain tissue. At one point the shares had more than doubled, but later slipped back. That said they ended up $7.5 at $17 3/8 The bond market had another bad day as investors continued to switch into equities. "Consumer confidence looks as if it has been restored," said Bill Allyn, head of trading at Jeffries & Co. "Money is coming out of the bond market into stocks."
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The Markets Contents
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