BLUE chip stocks ended lower yesterday as a surprisingly strong July durable goods report sent Treasury bond yields soaring to the highest level in more than three weeks.
The Dow Jones industrial average lost 10.73 points to 5,722.74. For the week, it was up 33.29 points.
In the broader market, declining issues led advances 1,266 to 1,001 on moderate volume of 308 million shares on the New York Stock Exchange.
The benchmark 30 year Treasury bond lost more than 1 1/4 points.
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Inflation sensitive bonds were sent reeling by news that July durable goods orders rose 1.6 per cent.
