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U.S. stocks off slightly ahead of election
Mon, Nov 01, 2004UPI
NEW YORK -- Traders appeared tentative about either buying or selling Monday ahead of an impossible-to-predict presidential vote, leaving stocks down but only slightly.
The Down Jones industrial average fell 16.22 or 0.16 percent to 10,011.25 in mid-morning trading. The Nasdaq composite slipped 4.86 or 0.25 percent to 1,970.13, and the Standard & Poor's 500 declined 2.22 or 0.2 percent to 1,127.98.
Individual stocks were varied. Merck lost 6.6 percent, but PeopleSoft rose 11 percent as Oracle's hostile takeover bid gained European regulatory approval. Tyco International rose on a strong earnings report for the third quarter.
The 10-year Treasury note lost 7/32, or nearly $1.25 for each $1,000 invested, for a 4.03 percent yield.
The dollar traded at 106.21 yen from 105.80 yen, and the euro climbed to $1.277 from $1.2739.
Tokyo's Nikkei 225 declined 36.71 points or 0.3 percent to 10,734.15.
Copyright 2004 by United Press International
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