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Publication: European Stars and Stripes Sunday, May 19, 1991

You are currently viewing page 17 of: European Stars and Stripes Sunday, May 19, 1991

    European Stars and Stripes (Newspaper) - May 19, 1991, Darmstadt, Hesse                                Sunday. May 19, 1991 the stars and stripes a Page 17 new York up a a combination of worries in chilling a prediction of reduced profits at Compaq computer corp., sent the Stock Market stumbling last week to another loss. Concerns Over anticipated lower profits at Compaq renewed inflation and interest rates pushed the Market into another losing week. Traders disappointed Over the bad news sold and forced the Market Down again. A the Market declined three Days and Rose two. The mar act suffered notable losses tuesday and wednesday and a smaller loss Friday while scoring a Small Advance monday and a Nice sized gain thursday. The Dow industrials fell 7.38 Friday to end the week at 2886.63. For the week the Dow fell 33.54, or 1 percent. The Dow Jones Industrial averages loss the prior week was 18.69. ,. Broader Market indexes like the new York Stock Exchange composite Index and Standard amp poor a 500 Index also dropped last  funds the a amp a 500 declined 3.35 to end the week at 372.39,. And the nose composite dropped 1.72 to end the week at 204.15. A. Declines led advances 1,139-606 among the 2,078 nose issues traded this week. Weekly big Board volume totalled 1,030,944,060, compared with 971,612,310 the prior week and with 1,072,600,890 a year ago. Compaq predicted wednesday reduced profits and both Compaq and the Market plunged. A technology stocks have beep one of the. Leaders in the Market rally a a Market analyst said. Vaif a Leader stumbles the Market Falls. Tom Gallagher managing director in charge of capital commitment at Oppenheimer amp co. Inc. Added a we. Had a volatile week. At this juncture there is Little   such As insurance companies and Mutual funds Are not investing in the Market Gallagher said. Since institutions Are the major investors that leaves the Market to the futures players like those who Deal in instruments based on such indices As the a amp a 500 Ort the Chicago mercantile Exchange he said. On the trading floor last week us Marathon was popping id airlines apparently sold his entire iding be or 1% to 25%. Carl Icahn chair the most Active Dror Man of trans work stake in us for More than so billion. Compaq was second closing at 35vr, Down 15. In an attempt to Stem the sell off in Quot its Stock Compaq said it planned to buy Back up to 10 million shares or 11 percent. Anie rican express was third off to 23vi. On the american Stock Exchange the Annex Market value Index dropped 6.01 to close Friday at 358.01, up 0.46 for the week declines led advances 491-281 among the 950 issues traded for the week. Fruit of the loom was the most Active among Macx issues falling 114 to 13%. 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