Executive Business Briefing 16:35:38 EST

[UPI]

Executive Business Briefing
By United Press International
Here's a look at the hour's top business stories from UPI Financial:

Stocks closed mixed amid profit-taking, as the Dow Jones industrial
average passed the 9000 mark for the first time, then fell back below
the milestone. The Dow closed down 3.23 points at 8983.41. Advances
narrowly led declines in active trading on the New York Stock Exchange.

The Dow broke through the 9000 barrier eight minutes after the
opening bell, as bonds rallied following the release of weaker-than-
expected employment data for March.

The New York Stock Exchange composite index rose 1.04 point to 583.08
and Standard and Poor's 500-stock index gained 2.69 to 1122.70.

Among the most active stocks: Sunbeam, down 10 5/8 to 35; Lucent
Technologies, up 3 3/8 to 72 7/8; Compaq Computer, down 3/16 to 25 3/4;
Telebras, down 4 to 121 7/8; Boeing, down 1/8 to 54 7/8; Bay Networks,
up 1/16 to 25 1/16; CBS, up 5/8 to 36 1/4 and Eli Lilly, down 1 1/4 to
58 1/2.

The Nasdaq composite index rose 2.44 points to 1855.40 and the Amex
composite index inched up 0.16 to 747.19.

-0-

The 30-year Treasury bond was ahead 22/32 to 104 19/32. The issue's
yield, which moves in the opposite direction of its price, was 5.80
percent. It was down from Thursday's 5.84 percent.

-0-

In late New York trading, the dollar fell to 1.8470 German marks from
late Thursday's 1.8545 but rose to 134.90 Japanese yen from 133.68.

-0-

On New York's Comex, a 100-troy-ounce gold futures contract for the
active June delivery rose $5.80 to $310 an ounce. A 5,000-troy-ounce
silver futures contract for the active May delivery rose 3.7 cents to
$6.57.

-0-

The Cleveland Indians Baseball Company has filed a registration
statement with the Securities and Exchange Commission for a proposed
initial public offering of up to 4.6 million Class A Common Shares. The
estimated initial public offering price will be between $14 and $16 per
share. The offering is being handled by a group of underwriters
represented by McDonald & Company.

-0-

Rite Aid reports its March sales increased 9.4 percent from March
1997, with prescription revenue accounting for nearly 55 percent of
total drugstore sales. Same-store sales rose 1.2 percent. East Coast
same-store sales rose 5.8 percent, while West Coast same-store sales at
recently-acquired Thrifty PayLess stores fell 5 percent. Same-pharmacy
sales were up 12.1 percent.

-0-
Market Statistics at close:
DJIA 8983.41 off 3.23
NYSE Composite Index 583.08 up 1.04
S&P 500 Index 1122.70 up 2.69
AMEX Composite Index 747.19 up 0.16
NMS Composite Index 842.47 up 1.13
NASDAQ Composite Index 1855.40 up 2.44
--

Copyright 1998 by United Press International.

All rights reserved.
--

bc-Financial-Update
--------
This article remains the property of United Press International and is not
to be modified or redistributed in any way. It is provided as information
through license arrangement between UPI and Pathlink Technology Corporation.