Newspaper article St Louis Post-Dispatch (MO)

Stock Prices Mixed despite Microsoft Romp

Newspaper article St Louis Post-Dispatch (MO)

Stock Prices Mixed despite Microsoft Romp

Article excerpt

U.S. stocks closed mixed as a rally in Microsoft Corp. and confidence that inflation is subdued helped offset slumps in telephone and retailing shares.

The Nasdaq Composite index did the best of the three major indexes, rising 5.19 to 868.25, its fourth record in a row. Microsoft led the way, soaring 3 9/16 to 84 7/8 on optimism about the software maker's alliance with General Electric Co.'s NBC television network.

The Russell 2000 Index also stood out, climbing 1.24 to a record 272.17, breaking its previous record close of 271.08 set on March 18, 1994.

The Dow Jones industrial average dipped 2.42 to 4435.05, breaking a string of six consecutive record highs. The Standard & Poor's 500 Index gained 0.45 to 528.19, its fifth straight record.

"The market is acting extremely well, even with the disasters in telecom and retailers," said Jonathan McCann, senior vice president in equity trading at Donaldson, Lufkin & Jenrette Securities Corp.

Phone shares tumbled after Pacific Telesis Group Inc. …

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