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Technology Stocks : Intel Corporation (INTC)

INTC 47.76

-4.9%

12:56 PM EST

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To: Brian Malloy who wrote (33757)	10/3/1997 3:44:00 PM
From: vinod Khurana	of 186894

Dow firmer, gains pared on bond, Mid-East jitters NEW YORK, Oct 3 (Reuter) - The Dow remained firmer but below earlier highs, as the long bond shed much of its day's gains also due to jitters over rising tension in the Middle East. The broader stock market was much steadier than the Dow industrials, analysts said. ``There is a little bit of nervousness about that (Middle East tension), but the bonds got real ahead of themselves and needed to back and fill a little bit,'' said Dan Ascani, president and director of research at Global Market Strategists. The Dow was up 47.64 points at 8075.17. The United States said on Friday it will vigorously enforce no-fly zones over Iraq and the U.S. Nimitz aircraft carrier is headed for the Gulf. This follows Iranian raids on bases of the Mujahideen Khalq, the main Iranian opposition groups. Ascani said it was crucial that the Dow closed above 8040 and the bond yield at 6.25 percent or below to keep the market positive. The Nasdaq was up 17.97 points at 1720.38 points. The broad market S&P500 index was up 8.67 points at 969.13. The American Stock Exchange's index of oil stocks notched a new lifetime high of 493.41 points. Middle-East tensions prompted benchmark Brent crude to break out of its $17 to $21 trading range where it has been for most of this year, to a high of about $21.50.

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