Newspaper article St Louis Post-Dispatch (MO)

`Window Dressing' Made for Erratic Week

Newspaper article St Louis Post-Dispatch (MO)

`Window Dressing' Made for Erratic Week

Article excerpt

The stock market ended a jittery week Friday the way it began: erratically.

The market rallied in the morning, with the help of falling interest rates. In the late afternoon, however, a selloff erased most of those gains.

The Dow Jones industrial average, up nearly 117 points at 2:13 p.m., ended the day with a gain of just 33.47 points, at 7,687.72. For the week, the Dow lost 108.79 points, or 1.4 percent. "It was almost as if someone flipped off a switch at 2 p.m.," said Art Hogan, an equity trader at Morgan Stanley, referring to the late afternoon selloff. "We gave it a run, but there were just no players in the last couple of hours." Broader indexes also held onto slim gains. The Standard & Poor's 500-stock index rose 3.62 points, to 887.30, and the Nasdaq composite gained 1.77 points, to 1,438.15. Considering how the week began, though, the market finished with just minimal losses. Monday, the Dow fell 192 points in its worst loss of the year after reports that the Bank of Japan was considering large sales of American Treasury securities. …

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