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To: Rich Young who wrote (84233)	12/8/1998 2:32:00 PM
From: Kayaker	Read Replies (1) \| Respond to of 176387

All I can find... just out... please post anything you can find... am looking for reentry point... NEW YORK (AP) - Blue-chip stocks turned lower again today, with Associated Press DataStream - December 08, 1998 14:24 the technology group giving back sizable gains that would have padded Monday's record-setting rally. At 2 p.m. on Wall Street, the Dow Jones industrial average was down 48.41 at 9,022.06 after swinging from an early 54-point loss to an 18-point gain. The Dow gained 190 points the past two sessions, but remains more than 300 points below the record of 9,374.27 set Nov. 23. Broader stock indicators were posting modest losses too. The Nasdaq composite index, which gained 37 points on Monday, was down 13.18 at 2,027.46 after shedding a 20-point gain. But Intel was up 2 1/16 at 121, working on another record high after Morgan Stanley Dean Witter raised its price target for the stock and seven other semiconductor issues. For the second day in a row, there was no far-reaching news to steer the market, which has been struggling to regain its momentum after rallying nearly nonstop for six weeks. Adding to the concern about whether the recovery has been too enthusiastic was another warning from a major company about the continuing economic weakness in Asia. Union Carbide was down 1 5/8 at 42 3/8 as one of the Dow's weaker components after the chemical maker cautioned that it won't meet Wall Street expectations for the current quarter. Meanwhile, a U.S. diplomat warned today that recent market optimism in Asia was unjustified and urged governments in the region to continue making economic and political reforms. "I see no fundamental change in Asia over the past 90 days to justify a sustained rally in the financial markets, much less to sustain economic growth," U.S. Ambassador to Singapore Steven Green told a gathering of businessmen. Declining issues outnumbered advancers by a 7-to-6 margin on the New York Stock Exchange, while Nasdaq decliners led by an 8-to-7 ratio. NYSE volume came to 487.09 million shares, up from 424.82 million at the same time Monday. The Standard & Poor's 500 index was down 3.59 at 1,184.11, the NYSE composite index was down 1.31 at 576.02, and the American Stock Exchange composite index was up 2.34 at 666.68. Overseas, Japan's Nikkei stock average rose 0.6 percent. Germany's DAX index fell 0.3 percent, Britain's FT-SE 100 rose 0.7 percent, and France's CAC-40 fell 0.2 percent.