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Stocks Fall a Bit; Dow Down 36.05

October 15, 1998

NEW YORK (AP) _ Stocks opened slightly lower today as the market held fairly steady for a second session after two weeks of sharp mood swings.

At 10 a.m. on Wall Street, the Dow Jones industrial average was down 36.05 at 7,932.73, quickly giving back Wednesday’s 30-point gain.

Broad-market indicators were mixed, with technology and smaller-company shares outperforming the blue chips.

Stocks rose on Wednesday, led by technology issues, as big names such as Intel, Ford and Pfizer posted third-quarter results that topped Wall Street’s deflated expectations.

Among the leading companies posting their latest results today, Coca-Cola was down 1/2 at 63 7/8 after coming within range of most analyst forecasts.

The Standard & Poor’s 500 index was down 4.31 at 1,001.22, and the technology-heavy Nasdaq composite index was up 7.02 at 1,547.99.

Declining issues outnumbered advancers by a 7-to-6 margin on the New York Stock Exchange, where volume came to 76.59 million shares, almost even with Wednesday’s brisk pace.

The NYSE composite index was down 1.94 at 495.04, and the American Stock Exchange composite index was up 0.14 at 583.15.

Overseas, Tokyo’s Nikkei stock average fell 0.1 percent. In afternoon trading, Frankfurt’s DAX index was up 0.6 percent and London’s FT-SE 100 was down 0.0 percent.

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