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Stocks Rise; Dow Up 31.88

April 2, 1998

NEW YORK (AP) _ Stocks were higher late this morning as the Dow Jones industrials began another climb toward the 9,000 mark and broader market indexes pulled further into record territory.

At 11 a.m. on Wall Street, the Dow Jones industrial average was up 31.88 at 8,900.20. Broad-market indexes, which all set new highs on Wednesday, were mixed.

Investors are awaiting Friday’s release of March employment numbers, which will set the tone for other economic indicators for the month and give them a sense of where inflation and interest rates might be headed.

Advancing issues outnumbered decliners by a 9-to-7 margin on the New York Stock Exchange, where volume came to 205.28 million shares, up from Wednesday’s pace.

The Standard & Poor’s 500 list was up 4.17 at 1,112.84. The NYSE composite index was up 1.99 at 578.40 and the American Stock Exchange composite index was up 1.33 at 745.48. All advancing further into record terrain.

The Nasdaq composite index was up 5.79 at 1,853.45, adding to Wednesday’s record close.

On Wednesday, stocks mounted strong gains on the back of higher bond prices, as three separate reports indicated the economy is robust but still not inflationary

Overseas today, Tokyo’s Nikkei stock average fell 3.3 percent and Frankfurt’s DAX index rose 0.4 percent. In afternoon trading, London’s FT-SE 100 was up 0.1 percent.

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