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To: zwing_88 who wrote (3842)	12/23/1998 5:47:00 PM
From: waldo	Respond to of 37507

America Online's stock soars as it joins S&P 500 By Emily Church, CBS MarketWatch Last Update: 4:26 PM ET Dec 23, 1998Also: Internet Daily NEW YORK (CBS.MW) -- America Online's elevation to the S&P 500 group of stocks Wednesday lifted the Internet sector, with AOL alone climbing more than 18 points on the momentous event. Breaking NewsCyber-Santa powers stocksReport suggests Fed to sit on sidelineTech issues extend rallyNovember durable goods climb 1%View from the bunker: Agency bondsMore top stories...CBS MarketWatch ColumnsUpdated: 12/23/98 4:03:02 PM ET The Amex Internet Index rose 3.9 percent, leading the advance in the broader technology sector. See Silicon Stocks. The Goldman Sachs Internet Index jumped 7 percent. The tech-heavy Nasdaq rose 51.58 points to 2,172.56, a new record. cbs.marketwatch.com W

To: zwing_88 who wrote (3842)	12/23/1998 5:50:00 PM
From: waldo	Respond to of 37507

Wednesday December 23, 5:07 pm Eastern Time Short covering propels Nasdaq to record close NEW YORK, Dec 23 (Reuters) - The Nasdaq stock market streaked to a record close Wednesday as traders began squaring positions ahead of the Christmas holiday period. Traders said the Internet stocks in particular were susceptible to short covering because the stocks are heavily traded and often make big moves up and down. With an abbreviated session scheduled Thursday prior to a three-day Christmas break, players who had been on the short side did not want to take any chances. The Nasdaq composite rose 2.43 percent or 51.56 to a record close of 2172.54 on unofficial volume of more than 964 million shares. Advancing issues led declines about 2161 to 1868. Online auction company uBid Inc (Nasdaq:UBID - news) soared 53-1/2 to 188. Netscape Communications Corp (Nasdaq:NSCP - news) jumped 8-7/16 to 59-9/16. Traders linked the move to Tuesday's sharp rise in America Online Inc (NYSE:AOL - news) which will join the Standard & Poor's 500. Netscape has agreed to be acquired by American Online. Intel Corp (Nasdaq:INTC - news) rose 5-15/16 to 125 after positive comments from Merrill Lynch including an upgraded rating. biz.yahoo.com W