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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: William H Huebl who wrote (14002)	2/10/1998 5:12:00 PM
From: Ibexx	Read Replies (2) \| Respond to of 94695

Bill and Kahuna wishers, From NY Times after market close: 4:54 P.M. Update Tuesday, February 10, 1998 Dow Closes at 8,295.61 to Set Record; First New High in Six Months The Dow Jones industrial average closed at a record high Tuesday, nearly four months after its biggest one-day point drop and six months after hitting its last peak. The Dow, at one point up 139.51 to its highest level ever, closed with a gain of 1.4 percent, or 115.09, at 8,295.61. The old intraday record of 8,299.49 was reached on Aug. 7, one day after the Dow made its record close of 8,259.31. It was during last summer's heady days for the market that the earliest whiffs emerged of economc turmoil in Asia. World markets went into a tailspin by late October, chopping a single-day record 554 points off the Dow on Oct. 27. Advancing issues outnumbered decliners by a 9-to-5 margin on the New York Stock Exchange, with 1,850 up, 1,013 down and 589 unchanged. NYSE volume totaled 641.50 million shares as of 4 p.m., vs. 524.08 million in the previous session. Markets at a Glance TUESDAY CLOSE Dow Industrials 8295.61 +115.09 Nasdaq 1709.04 +18.61 AMEX 686.04 +5.62 NYSE 529.96 +3.99 S&P 500 1019.01 +8.27 In economic news, the Labor Department said Tuesday that American business productivity grew briskly in the final three months of 1997 but slowed from its sizzling rate earlier in the year, Reuters reported. Productivity, or output per worker hour, for businesses outside the farm sector rose at a seasonally adjusted annual rate of 2.0 percent in the fourth quarter, slower than the stellar 3.6 percent rate recorded in the third quarter. The Commerce Department said inventories of unsold goods on wholesalers' shelves rose modestly in December, while sales pulled out of a two-month slump. Total wholesale inventories rose 0.9 percent in December to a seasonally adjusted $272.49 billion, a gain of 6.4 percent from December 1996. Inventories rose 0.7 percent in November and were flat in October. Earlier, President Clinton said the economy is strong enough to withstand the crisis in Asia and well-equipped to handle any further troubles from the region. Asian stock markets closed generally mixed Tuesday, with the key index in Seoul tumbling 2.2 percent after a militant labor group called for a nationwide strike in South Korea. On the Seoul Stock Exchange, the Composite Stock Price Index fell 12.47 points to 541.77. The South Korean currency, the won, also closed lower because of worries over possible labor unrest. It was quoted at 1,584 won to the dollar, compared with Monday's close of 1,558. Singapore shares surged 3.8 percent as players snapped up several blue-chip stocks. The Straits Times Industrials Index rose 59.25 points to close at 1,602.97, boosted largely by sharp gains in the local shares of media and property group Singapore Press Holdings as well as national carrier Singapore Airlines Ltd. In Tokyo, share prices closed higher for a fourth consecutive trading day amid continued expectations that additional economic stimulus measures may boost demand in Japan. The benchmark 225-issue Nikkei Stock Average edged up 0.09 points, or 0.01 percent, closing at 17,205.09. The average now has gained a total of 322.47 points in the last four trading days. Meanwhile, the dollar was trading at 123.54 yen, down 1.18 yen from late Monday and also below its overnight New York rate of 124.04 yen. Indonesia share prices closed higher on heavy trading but the index finished lower on arbitrage selling in telecommunications stocks. The Jakarta Stock Exchange's Composite Index fell 11.553 points, or 2.2 percent, to 517.701. Leading European share markets were mixed on Tuesday, as London posted a mild rise and the Paris Bourse hit a record high close, but the Frankfurt market fell by 0.87 percent, Agence France-Presse reported. Ibexx