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Monday, January 4, 1999 Published at 15:18 GMT
Business: The Markets
Wall Street market report
![[ image: ]](/olmedia/95000/images/_98167_usre150.gif) |
Shares saw a strong start to the New Year as Wall Street joined European markets in the celebration of the launch of Europe's single currency.
Around 1000 local time (1400 GMT), the Dow Jones industrial average was up 69 points, or 0.75%, at 9,250.43.
The technology-laden Nasdaq average was up 19.87 points, or 0.91%, at 2,212.56.
European stock markets rose as Europe's new currency, the euro, jumped on its first day of trading.
"All eyes are on the launch of the euro," said Peter Cardillo, director of research at Westfalia Investments. "It looks as though the euro is getting off to a fairly good start."
Barry Hyman, market strategist at Ehrenkrantz, King & Nussbaum that the rally on Wall Street also had to do with "a little bit of excitement at the beginning of the new year."
Bell Atlantic edged up 1/16 to 53 1/16 after the nation's largest local phone company said it was in talks to acquire wireless giant AirTouch Communications in a $45bn stock-swap deal. AirTouch was off 1 1/4 at 70 7/8.
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