THE GULF WAR: The Diplomatic Front : Market Update
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Oil: Traders braced for a second week of war. Crude prices rose 16 cents to $22.04 a barrel after having been up as much as $1.62 during the trading day.
Dow Industrials: The industrial average rose 15.84 to 2,619.06 as traders cautiously monitored developments in the gulf.
Credit Markets: The expectation of further interest rate cuts sent bond prices higher during cautious trading.
Metals: Gold futures ended between $1 and $1.40 an ounce lower, with the spot contract in New York at $378.40.
Currency: The dollar fell amid a growing sense among traders that the Federal Reserve will continue to lower rates. It dropped to 131.72 yen from 132.68 Tuesday.
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