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Dow Up Sharply in Early Going

December 3, 1999

NEW YORK (AP) _ Stock prices have opened higher on the strength of today’s unemployment report. The Dow industrials are up 121 points. Advancers on the New York Stock Exchange hold a 2-1 lead over decliners. The Nasdaq is up 63 points and the S&P 500 Index is up 19 points.

Analysts were looking for the markets to move sharply higher after the government reported that the jobless rate held steady last month at 4.1 percent.

The report served to ease worries that the Federal Reserve would move quickly to raise interest rates again. But analysts say another rate hike down the road still can’t be ruled out.

In addition, the interest rate picture has improved somewhat this morning. The benchmark 30-year bond has gained more than half a point in early trading. The yield has dropped to 6.27 percent.

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