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To: LTK007 who wrote (1131)12/3/1998 9:19:00 AM
From: Mohan Marette  Read Replies (1) of 27722
 
Dow seen opening higher on European rate cut
By Daniel Bases

NEW YORK, Dec 3 (Reuters) - A coordinated interest rate cut by European central banks was expected to boost Wall Street stocks to a higher opening on Thursday.

''The coordinated rate cuts are helping to pull us out of what looked like a negative open. I think we'll open higher here as Europe realizes they have to do something to help save the global economy,'' said Peter Cardillo, chief strategist at Westfalia Investments.

On Wednesday the Dow Jones Industrial Average fell 69 points to 9064.54, led lower by weakness in Boeing Co. (NYSE:BA - news).

December S&P futures rebounded from early losses and were up 2.70 points at 0825 EST/1325 GMT following the European rate cut.

The U.S. dollar climbed higher against the mark, to 1.6831 from about around 1.6760.

(Note: this article is ''in progress''; there will likely be an update soon.)

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