Newspaper article St Louis Post-Dispatch (MO)

Dow Hits Another Record in Mixed Session

Newspaper article St Louis Post-Dispatch (MO)

Dow Hits Another Record in Mixed Session

Article excerpt

U.S. stocks were mixed Friday as a late burst of computer-driven buy orders tied to the expiration of August option and futures contracts offset a slide among automobile, beverage, drug and health-care issues.

"After setting records for four straight days, the market was due for a break," said James Andrews, head of institutional trading at Janney Montgomery Scott Inc.

The Dow Jones industrial average gained 3.35 to a record 3615.48, as computer-driven buy orders added about 16 points to the average in the final 10 minutes of trading. The Dow industrials ended up 45.83 for the week.

"Stocks that have been doing the best this week did the worst today," Andrews said. For example, PepsiCo Inc. fell 1 to 39 1/8, Bristol-Myers Squibb Co. declined 3/8 to 56 3/8, and Kellogg Co. slid 1 5/8 to 51 1/8.

Automobile stocks plunged after an analyst at Salomon Brothers Inc. cut his earnings estimates for Chrysler Corp. Chrysler Corp. fell 1 3/8 to 41 1/4, General Motors Corp. …

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