Market Recap: March 10th

Strategic Insights -

The US stock market experienced a mixed day, with the Nikkei Stock Average rising 165.29 points to 15,261.99, while Wall Street saw declines on profit-taking and caution over high-technology sector earnings. The Dow Jones industrial average closed down 33.85 points at 9,693.76, with declines leading advances by 16-13 in heavy trading. The New York Stock Exchange composite index fell 1.17 points to 602.93, while the Standard & Poor's 500-stock index dropped 2.89 to 1,279.84.

Key Takeaways:

  • The Nikkei Stock Average rose 165.29 points to 15,261.99, marking a gain of 1.1% from the previous day.
  • The Dow Jones industrial average closed down 33.85 points at 9,693.76, a decline of 0.35% from the previous day.
  • The New York Stock Exchange composite index fell 1.17 points to 602.93, a decline of 0.19% from the previous day.
  • Declines led advances by 16-13 in heavy trading, with over 796 million shares traded on the New York Stock Exchange.
  • The 30-year Treasury bond closed higher at 95 30/32, up from late Monday's 95 2/32, with the issue's yield down to 5.53% from 5.59%.
  • RJR Nabisco announced plans to sell its international tobacco business to Japan Tobacco for $8 billion, including $200 million in debt.
  • Fluor Corporation plans to cut 5,000 jobs by the end of the year as part of a restructuring.
  • Advanced Micro Devices (AMD) closed down 1 7/16 at 17 1/2 after warning of a "significant loss" in the first quarter.

Statistics:

  • The Nikkei Stock Average rose 165.29 points to 15,261.99, a gain of 1.1% from the previous day.
  • The Dow Jones industrial average closed down 33.85 points at 9,693.76, a decline of 0.35% from the previous day.
  • Over 796 million shares were traded on the New York Stock Exchange, marking heavy trading.
  • The 30-year Treasury bond closed higher at 95 30/32, with the issue's yield down to 5.53% from 5.59%.

Sources:

  • Nikkei Stock Average closing prices on March 10th, COMTEX
  • Dow Jones industrial average closing prices on March 10th, COMTEX
  • New York Stock Exchange composite index closing prices on March 10th, COMTEX
  • 30-year Treasury bond closing prices on March 10th, COMTEX
  • RJR Nabisco press release announcing sale of international tobacco business, RJR Nabisco
  • Fluor Corporation press release announcing restructuring, Fluor Corporation
  • Advanced Micro Devices (AMD) press release warning of first-quarter loss, AMD