By Stewart Lewis
(May 26 – 17:30 ET) – Markets in the U.S. finished off the week, heading into the Memorial Day weekend with slim losses. The Dow Jones industrial average fell 24.68 to 10,299.24. The NASDAQ composite index slipped 0.24 to 3,205.11.
Microsoft stocks fell after the Justice Department renewed efforts to have software giant Microsoft split into two companies.
Financial stocks fell again today. Salomon Smith Barney added its concerns to Merrill Lynch’s that Goldman Sachs isn’t likely to make its second-quarter earnings estimates. Merrill Lynch stock fell, dragging down fellow full-service broker, Morgan Stanley Dean Witter.
In Canada, Merrill Lynch stock continued to take a bashing today, too. The stock completed the day, down $7.05 to $140.
The TSE 300 composite index, itself, finished dowm slightly. It finished down 22.82 to 9020.88. At least it stayed above the 9000 mark, having dropped below it on Wednesday. Today, declining issues edged out advancers by 576 to 516. Unchnaged issues numbered 272. Eight of the TSE 300’s sub-indices were lower at the close.
The CDNX also slipped slightly. It fell 13.52 to 3192.45. Decliners outpaced advancing issues 321 to 272, with 501 issues remaining unchanged.
The Canadian dollar had a volatile day, ending the day on a flat note. It closed at US66.51¢ after closing at US66.50¢ yesterday.