Stock Indexes See Sharp Increases

Sat., Aug. 14, 1999

From Staff

Stocks soared Friday as a new government report suggested inflation remains in check, raising hopes that the Federal Reserve need not be aggressive in raising interest rates to cool off the economy.

The Dow Jones industrial average rose 184.26 points, a gain of 1.7 percent. For the week, the blue-chip index gained 259.62 points.

Broader stock indicators were also sharply higher.

The Standard & Poor’s 500 rose 28.34 to 1,326.50, and the Nasdaq composite index rose 87.72 to 2,637.21.

Defying any fears of bad luck on Friday the 13th, stocks rose following a Labor Department report of a modest rise in the Producer Price Index, a measure of inflation pressure before it reaches the consumer.

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Stock Indexes See Sharp Increases

Jesse Tinsley

Jim Meehan

Molly Quinn

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