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Nasdaq Jumps 100 in Early Trading

January 3, 2000

NEW YORK (AP) _ The Nasdaq Composite Index is up more than 100 points in early trading.

The Dow Jones industrial average is down 17 and the Standard & Poor’s 500 Stock Index is up 5.

Analysts expected stocks would move higher after the Asian markets experienced no major problems on the first trading day of year 2000.

S&P futures were sharply higher the whole morning.

Traders are expecting a routine trading day. Weekend testing of the trading systems uncovered no Y2K problems.

Bonds have opened sharply lower. The long bond is down a full point. Its yield has climbed to a two-year high of 6.57 percent.

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