Most stocks fell today in sleepy holiday-season trading, although it was business as usual in the red-hot Internet group, which drove the Nasdaq market to another new high.
The Dow Jones industrial average barely finished higher, rising 8.76 points to 9,226.75, but extended its winning streak to seven sessions. The Dow has gained 436 points in that time, and now sits 150 points from the November 23 record of 9,374.27.
Decliners outnumbered advancers in the lifeless session as many investors stayed home for an extended holiday break.
The year has had a surprisingly happy ending. Less than three months ago, the Dow was trading in the 7,000s and showing a loss for the year. Now, the Dow is up 16.7 per cent in 1998, the Standard and Poor 500 is up 26.3 per cent and the Nasdaq composite index is up 38.8 per cent.
The Standard and Poor's 500 fell 0.78 to 1,225.49, edging lower for a second session. from Wednesday's record high.
The technology-heavy Nasdaq composite index rose 17.27 to a record 2,180.30.
