European Stars And Stripes (Newspaper) - December 25, 1988, Darmstadt, Hesse Page 20 the e stars and stripes sunday december 25,1988 business news Market advances despite midweek losses new York. Up the Stock mar Ket advanced on the week Afler Price gains on monday and Friday exceeded midweek losses tied to investors concern about inflation. The Dow Jone Industrial average which Rose 8.57 Friday closed the week at 2i6b.93. The Blue Chip Index gained 18.22 on the week broader Market indicators also advanced. The new York Slock Exchange composite Index Rose 0.901o 56.06 an Standard &. Poor s 500-Stock Index added 2,58 to close the week at 321,28. Advances led declines 993-885 Amon the 2,177 issues traded. Big Board Voi urn totalled 702,886,460 shares com pared with 722,205,1 00 the previous week and 666,394,470 a year ago. The Wick began with an Extension of Friday s Sharp gains when the Dow give Bush credit for Buck s gain by Randy Eccl install writer perhaps George Bush can finally breathe a sigh of Relief this Christmas. The reasons Aren t exactly Clear but 1988 appears to be ending with a slightly h higher Dollar against foreign currencies. That has to give president elect George Bush now less than a month away from taking office the urge to say i told you so it s not so much that Bush is directly responsible Tor the Dollar lip toeing higher in the past two s just that the nation s soon to be 41st president took much of far the Dollar falling after his nov. 8 election and now it seems Only fair that he get some of the cred it for the trend being reversed. Currency traders drove the Bucktown under the theory that Bush does t have much of a plan for putting the United slates Man Cial House in order. Bush s ill has t told exactly How he intends to Deal with America s budget and. Trade deficits but the Buck has bounced Back anyway. On the monday before Bush s Vic tory the military Exchange rate incest Germany was 1.76 Marks to the Dollar h tumbled As Low As 1.70 within 10 Days but now is Back to1.76. Some currency analysts think it May even Edge up another pfennig or two before Topping out what s behind the Dollar s mod est rally. -. The Best guess is that rising interest Rales in the United states arc lending enough support to the Bucklo offset Central Bank interest rate increases i Europe earlier this month. A word of Caulion. Though. On american banker in Frankfurt who spoke on the condition that his name not be used said most Large traders have already closed up shop for the year and trading volume is thin on currency markets. That mean swings in the Dollar s value right now won t necessarily reflect accurate Long term trends. The Market has no Clear idea about the Dollar s direction at pre sent the banker said. But no too Many people share the View that the Dollar will Rise after theirs of the ,. Belter enjoy this while it lasts. Added 21,97 to Advance the previous Fri Day s 17.7 Point gain. Analysis said the Market showed signs of continuing a year end rally which began to Lake shape i n november. The surge in prices ended abruptly tues Day however when a Sharp increase in the prices of january etude Oil futures sparked investors concern about inflation enough to cause a sell off late in he session. Oil prices Are considered a. Key Compo nent of inflation therefore sharply Ris ing Oil prices can have a profound effector the mock Market. Higher inflation Means higher interest rates which make stocks less attractive to investors. No meaningful economic news came wednesday or thursday to ease those inflation concerns the Commerce department thursday said durable Good orders in november Rose a sluggish 0.1 percent but the report was in Tine with Wall Street s expectations. There was Little reaction in the Stock Market to Drexel Burnham Lambert no s announcement wednesday that Thad reached an agreement with the . Government to plead guilty to six felony counts and pay s6sq million in penalties and fines in connection with Wall Street s broadest insider trading Case. Stock prices recovered Friday in the second slowest trading session of the year As investors took advantage of the Market s midweek slump logo shopping for pc Christmas bargains. Volume Friday totalled 81,7 50,000.the slowest session of the year was on nov. 2s, when volume totaled72,090,000 shares Myse trading floor activity was dominated by issues involved with significant dividend payments or takeover activity. . Morgan was the most Active Issue off 1 to 34%, the mock traded in dividend on tuesday. At to which traded sex dividend Fri Day followed unchanged at 29 i. Among Blue chips ism Rose 2 tou3k, scats Rose 1 to 41 i and Boeing fell toss. In the Oil sector Mobil Rose a to 46exxon fell Vilo 45, Texaco fell it to soft. Phillips Petroleum fell to 19%. On the american Stock Exchange Thea Max Market value Index Rose 1.8 to close the week at 302.22, while the National association of securities dealers Index Rose 1.54 to end at 377,34. Advances led declines 436-387 among1,052 issues traded on the amex. Vol ume totalled 53.877,120 shares com pared with 49,186.730 the week before. Rise in computer Chip Stock prices predicted new York not the stocks of computer Chip manufacturers have reached historic lows and have nowhere to go but up. A growing number of analysts say. They be hit Bottom said Thomas p. Kurlak an influential anal stat Merrill Lynch & co. Kurlak who was considered the big Gest Bear on the semiconductor stocks turned positive about 10 Days ago help ing move the stocks upward last week. Millard h. Phelps an analyst at Ham Brachl & Quill inc. In san Francisco added we have More positive technology stocks in general and sem fund prices from Page 19 go poll of Floe High Ihrl Mil uq4 unlit Wudl Mil mall us Ftp or filmy mud i Cut. Ctn gym Der inc0%lg we inn withi72 29 lit .02 191 155 a 1199 11.99. .01.12-1 1mj. .01 1204 l0 4 a is. To 14 19 no. Mun 1103. .01 1311 i. .124 i. .02 3271 i 02 1ss no jt2ijll a i 10 h no 11 1102 m. Or1001 Al. 1093 h .io.j7 a so. .04 749 7is 477 ill .01i 9.w 374 i6 129 6h .02 1j54 1394 of 111 until Mil 077 k t j591 021173 n rat 0 in ioj1 17 193 m7 014b 4.� it Mot 1114 .01 774 113 jul in 714 jul jul 761, .11 7� us .02 conductor stocks in particular Plum meted this fall As companies announced disappointing earnings. Two big semiconductor companies advanced Micro devices inc. And the National semiconductor corp., have been losing Money and have experienced a drop in orders. The Intel corp. 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