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Thursday, March 11, 1999 Published at 15:32 GMT


Business: The Markets

Wall Street market report



{ Image 2}Thursday open

An improvement in the values of energy stocks, coupled with a rise by select technology issues, has pushed New York market averages higher in early trading.

Shares of Chevron have gained 1 9/16 to 84 13/16, while Mobil has added 1 1/2 to 92 7/8, stretching its 52-week high, while Texaco increases 1 3/4 to 55 7/8.

The group has continued to rally, even though the lead in crude prices, which sparked a round of gains this week, appears to have eased.

Meanwhile, shares of Micron Technology have advanced 2 1/4 to 57, after the chip maker hinted at a conference that its fiscal second- quarter results may come in stronger than analysts have been anticipating.

At 1523 GMT, the Dow Jones Industrial Average was up 35 points at 9807, improving on the record reached with Wednesday's close of 9772.

The move represents the first time the industrial average has broken through 9800 points, even on an intraday basis.

The Standard & Poor's 500-Stock Index has added 5 points and the New York Stock Exchange Composite Index has gained 3 points.

The Nasdaq Composite Index has forged a 9-point gain, thanks to some modest improvement in technology issues.

NYSE volume totals about 110m shares, which puts it modestly ahead of its usual levels.





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