Dow Inches Up 3.75 in Quiet Year-End Session
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NEW YORK — Stock prices inched ahead today in a quiet year-end session on Wall Street.
The Dow Jones average of 30 industrials rose 3.75 to 2,166.43.
Advancing issues outnumbered declines by about 4 to 3 on the New York Stock Exchange, with 780 up, 592 down and 582 unchanged.
Big Board volume totaled 110.63 million shares, against 87.49 million in the previous session.
The NYSE’s composite index gained 0.24 to 155.82.
Analysts said some buying was encouraged by the market’s relatively steady showing lately in the face of continued increases in interest rates.
The dollar also gained ground against leading foreign currencies today.
Bond prices fell slightly in early trading today, depressed by disappointing results from a Treasury auction of new debt.
Federal funds were at 9.375%, up from 9.00% late Tuesday. Analysts said traders interpreted the rate’s high level as evidence of tighter credit, which leads to higher interest rates overall and therefore to lower bond prices.
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