http://www.yahoo.com/headlines/current/business/stories/stocks.html (Einblicke ins Internet, 10/1995)
NEW YORK (Reuter) - Wall Street stocks rallied on Friday as signs of economic strength sparked a shopping spree in economically sensitive shares, and as long-term bond interest rates fell on hopes for easier credit.
Trading slowed to a crawl ahead of Monday's U.S. Labor Day holiday, when U.S. stock markets will be closed.
The Dow Jones industrial average rose 36.98 points to 4647.54. Advances outpaced declines 1,332 to 837 on light volume of some 256 million shares on the New York Stock Exchange.
For the week, the Dow rose 46.14 points on volume of 1,466,109,550.
A weak tone in the technology group pushed the tech-heavy Nasdaq Composite index down 0.64 point to 1019.47.
``The markets grasped for positive news for their markets,'' Nie said. Marty Kearney, a trader at PTI Securities, agreed that stocks and bonds were ``looking at two sides of the coin.''
Nie noted economically sensitie issues like autos, rails, energy-related and some retailers were stronger. Shares of the Big Three rose on expectations of strong August U.S. car sales, with Chrysler up 5/8 to 54 1/2 after hitting a 1995 high of 55. Burlington Northern added 2 1/4 to 71 1/8 after hitting a 1995 high of 71 1/2 and Schlumberger was up 2 7/8 to 78 3/8.
Trading was relatively subdued this week ahead of Labor Day, despite a bevy of mergers including Chase Manhattan and Chemical Banking's $10 billion pact and a key appellate court ruling for thrifts and against the government. ``It was so quiet you could hear the salaries falling,'' a trader quipped.
Strength in the rail group helped boost the Dow Jones Transportation Average up 11 to about 1912.
Weaker technology shares included Texas Instruments, off 2 3/8 to 72 1/2, Hewlett-Packard, off 1 5/8 to 78 3/8, and Intel, off 1/2 to 60 7/8.
Microsoft Corp. fell 2 3/4 to 89 3/4. The company said some customers were having problems installing Windows 95 because of virsus on the users' computers.
The Standard & Poor's composite index of 500 stocks rose 1.96 points to 563.84. The American Stock Exchange index rose 1.20 to 535.66.
The NYSE Composite index of all listed common stocks rose 1.23 to 303.23, a record. The average share was up 16 cents.