Wall Street Stocks End Higher
Dec. 15, 1998
NEW YORK (AP) _ Stocks moved to higher ground today, as General Electric pushed the Dow up for the first time in a week.
At the close on Wall Street, the Dow Jones industrial average was up 127.70 at 8,823.30.
The Dow had closed lower for the past five sessions amid growing worries about fourth quarter corporate earnings and the growing realization that President Clinton will be impeached by the House on Thursday. Monday marked the Dow's first close below 8,700 since Oct. 30.
The technology-heavy Nasdaq composite index rose 45.41 to 2,012.22 and broader stock indicators were also generally higher.
Also leading stocks higher was a report from the Labor Department reaffirming that inflation is being held in check. The Consumer Price Index edged up just 0.2 percent in November, matching the October increase.
General Electric rose 6 3/16 at 93 after the company told analysts Monday night that it felt comfortable with earnings estimates for 1999.
But another disappointing earnings report held back further gains in the Dow.
Caterpillar was down 1 9/16 at 44 11/16 after the agricultural machinery concern said it would fail to hit Wall Street earnings estimates for the fourth quarter. overseas force it to heavily discount products and leave more inventories in stock.