Dow Establishes New High Mark

Thu., Aug. 26, 1999

Stocks moved higher Wednesday, carrying the Dow Jones industrials to a new closing high as investors grew more confident that the latest interest rate increase will enable the economy to grow without runaway inflation.

The Dow was up 42.74 at 11,326.04, topping its previous record close of 11,299.76, set Monday.

Crude oil and gasoline futures nose-dived Wednesday on the New York Mercantile Exchange after weekly inventory figures showed unexpectedly weak gasoline consumption as the peak season winds down.

On other markets, pork bellies fell sharply, while grain and soybean futures advanced.

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Dow Establishes New High Mark

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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