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Friday, December 4, 1998 Published at 21:35 GMT Business: The Markets Wall Street market report ![]()
Stocks ended sharply higher after a bullish employment report reflected continued strength in the US economy. The Dow Jones industrial average ended up 136.46 points, or 1.54%, at 9,016.14. The Nasdaq composite index gained 47.25 points, or 2.42%, to 2,001.58 points. The charge upward in stocks was led by investors buying up technology shares. Leading the charge was Intel Corp., up 6 13/16 at 116 5/16 following a big sell-off on Thursday. Microsoft gained 5 1/4 to 127 3/8. Internet shares were once again on the rise. Online auction company uBid Inc, making its debut, leaped 33 to 48 from its initial public offering price of 15. Yahoo! jumped 6 3/8 to 190 1/8. Compaq Computer added 2 1/4 to 38 9/16 while Lucent technology gained 7 3/8 to 95 3/4. Johnson & Johnson gained 2 1/16 to 81 3/4 after announcing a sweeping restructuring that includes a cut of 4,100 jobs worldwide, a charge of $800m against fourth-quarter earnings and the shutdown of 36 manufacturing facilities. |
The Markets Contents
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