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Around the World's Markets: NEW YORK

Wednesday 19 May 1999 18:02 EDT
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SHARES STRUGGLED to hold on to gains all day before rallying into the close, as the market continued to digest the Federal Open Market Committee's decision yesterday to move to a rate-tightening bias.

The Dow Jones closed up 50.44 points at 10,887.39, with the Nasdaq up 19.04 at 2,577.40, while the S&P 500 index was up 10.90 at 1,344.20. Dealers said yesterday's statement suggested the policy-making arm of the Fed remains vigilant and is prepared to act against any signs of rising inflation in the US economy.

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