Copyright 1999 Chicago Sun-Times, Inc.
Chicago
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April 16, 1999, FRIDAY, Late Sports
Final Edition
SECTION: FINANCIAL; BREAKFAST
BRIEFING; NATION WORLD; Pg. 65
LENGTH: 420
words
BODY:
4th-straight record for Dow In trading
Thursday:
Stock prices closed mostly higher in a turbulent session that
saw the Dow Jones industrial average change direction several times but still
make its fourth-straight record close. The average closed up 51.06 at 10,462.72.
Trading was active, with 1.3 billion shares changing hands. The Standard &
Poor's 500 index ended 5.59 lower at 1,322.85. The Nasdaq composite index rose
14.49 to 2,521.77. Long-term Treasury bond prices fell for a third straight
session as investors continued taking advantage of more lucrative corporate
bonds. The yield on the benchmark 30-year bond edged up to 5.52 percent from
5.51 percent Wednesday.
The dollar gained against the euro and yen.
In Chicago, grain and soybean futures prices were higher while livestock
and pork futures fell. On other markets, crude oil was higher, while orange
juice dropped sharply.
AltaVista will showcase ads NEW
YORK -- In a first among the major Internet search engines,
AltaVista.com will begin offering advertisers the chance to have their Web sites
listed at the top of search results, causing concern that a tool to sift through
the Web could be compromised by commercial pressures. The paid links are
expected to begin Monday.
Bankruptcy proposal tied up
WASHINGTON -- A dispute over abortion threatened to
scuttle a Senate bill to rewrite the bankruptcy laws. A
proposal by Sen. Charles Schumer (D-N.Y.) would require bankrupt people found to
have violated laws protecting abortion clinics to pay those penalties. He cited
the case of abortion opponent Randall Terry, who filed for
bankruptcy protection in November. Terry said suits filed by
clinics and women's groups forced him into bankruptcy.
Fixed-rate
mortgages drop WASHINGTON -- The average interest rate on 30-year
fixed-rate mortgages fell this week to the lowest level since mid-February. The
average was 6.87 percent, Freddie Mac, the mortgage company, said Thursday.
Fifteen-year mortgages averaged 6.47 percent this week. The rates do not include
add-on fees known as points.
Cadbury Schweppes gets 'Punchy'
LONDON -- Cadbury Schweppes PLC has agreed to buy Hawaiian Punch,
America's leading brand of fruit punch, from Procter & Gamble Co. for $ 203
million in cash.
Huntsman seals $ 2.8 billion deal SALT LAKE
CITY -- Huntsman Corp. became the largest private chemical company in
the world Thursday with its $ 2.8 billion purchase of four chemical businesses
from Imperial Chemical Industries of London.
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April 16, 1999 
