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Stocks Mixed in Morning Trading

April 2, 1998

NEW YORK (AP) _ Stocks opened marginally mixed this morning as investors failed to follow through on a strong rally the previous session as they await a key report on employment that should shape sentiment about the economy.

At 10 a.m. on Wall Street, the Dow Jones industrial average was down 1.00 at 8,867.32. Broad-market indexes, which all set new highs on Wednesday, were mixed.

Investors are awaiting Friday’s release of March employment numbers, which will set the tone for other economic indicators for the month and give them a sense of where inflation and interest rates might be headed.

Declining issues outnumbered advancers by a slim margin on the New York Stock Exchange, where volume came to 74.80 million shares, down from Wednesday’s early pace.

The Standard & Poor’s 500 list was up 0.19 at 1,108.34. The NYSE composite index was up 0.25 at 576.66 and the American Stock Exchange composite index was up 1.26 at 745.41. All advancing further into record terrain.

The Nasdaq composite index was down 0.12 at 1,847.54, retreating slightly from Thursday’s record close.

On Wednesday, stocks mounted strong gains on the back of higher bond prices, as three separate reports indicated the economy is robust but still not inflationary

Overseas today, Tokyo’s Nikkei stock average fell 3.3 percent. In afternoon trading, Frankfurt’s DAX index was up 0.4 percent and London’s FT-SE 100 was up 0.1 percent.

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