Dow Gains 21; Nasdaq Is Up 3
Jun. 05, 1998
NEW YORK (AP) _ Stock prices are higher in active trading. The Dow Jones industrial average is up 21 points in today's early going. Gainers on the New York Stock Exchange hold a 3-2 lead over losers.
The Nasdaq Composite Index has gained nearly three points and the Standard & Poor's 500 Stock Index is ahead two points.
Wall Street begins its final session of the week fresh news of a strong economy and disappointing corporate earnings.
The Labor Department reported that the jobless rate held to a 28-year-low in May, a slightly stronger showing than had been expected.
And high-tech bellwether Motorola said it would speed up changes aimed at reversing it declining fortunes. In addition, the company said second-quarter earnings would be disappointing.
But some market-watchers are optimistic. The bond market has moved slightly higher despite the strong employment report.
And given recent declines already in the high-tech sector, they reason there may be little need to move much lower from here.