Newspaper article THE JOURNAL RECORD

Stocks Finish Narrowly Higher; Dow Industrials Rise 8 Points

Newspaper article THE JOURNAL RECORD

Stocks Finish Narrowly Higher; Dow Industrials Rise 8 Points

Article excerpt


NEW YORK (AP) - The stock market finished narrowly higher in directionless trading Tuesday as investors picked through secondary issues.

The Dow Jones average of 30 industrials advanced 8.16 points to 2,662.62.

Gaining issues outnumbered losing ones by about 6 to 5 in nationwide trading of New York Stock Exchange-listed stocks, with 826 up, 686 down and 482 unchanged.

Volume on the floor of the Big Board came to 155.74 million shares, up from 141.27 million in the previous session.

Nationwide, consolidated volume in NYSE-listed issues, including trades in those stocks on regional exchanges and in the over-the-counter market, totaled 189.45 totaled million shares.

Stock prices opened lower and then seesawed for most of the session. The market remained edgy over the Persian Gulf war but has begun to take a ``more forward-looking approach,'' said Eugene Peroni, an analyst with Janney Montgomery Scott Inc. in Philadelphia.

``The market is not really focusing on the minute-by-minute details from the Middle East,'' he said, though any significant news still has the ability to shove the market in either direction. Traders have begun shifting their attention to corporate earnings reports, which are showing varied results, and to the economy.

Most of the buying interest centered on secondary issues. Many investors who began pulling their money out of stocks when the Middle East crisis began to unfold have ``some concern about being left out'' of the the market's move up, said Hugh Johnson, a senior vice president at First Albany Corp.

The Dow Jones average has advanced more than 150 points over the past two weeks. …

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