Dow Hits Another Record High

Thu., April 22, 1999

From Staff

Stock prices rose sharply Wednesday, lifting the Dow Jones industrial average to a new closing high, as strong earnings reports sent investors back in search of Internet and pharmaceutical issues.

The Dow, which rallied strongly in the final 20 minutes of trading, rose 132.87 to 10,581.42. The blue chips achieved their first close above 10,500, having surpassed the previous high of 10,493.89 set last Friday.

The Standard & Poor’s 500 rose 29.95 to 1,336.12, and the Nasdaq composite index, with its high representation of technology issues, rose 79.44 to 2,489.08.

Even small-company stocks, which have not participated in the market’s advances for some time, were higher, pushing the Russell 2000 index up 11.23, or 2.7 percent, to 426.57.

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Dow Hits Another Record High

Jesse Tinsley

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