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Dow at a high, S&P 500 too
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March 10, 1999: 4:14 p.m. ET
Surging oil stocks help blue chip sector while broader market lingers
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NEW YORK (CNNfn) - Strength in the oil sector helped push the Dow industrials to a new record Wednesday and a small step closer to 10,000.
The rest of Wall Street sought direction and moved within a narrow range, eventually finishing with small gains, enough to push the S&P 500 also to an all-time high.
According to preliminary data, the Dow Jones industrial average closed 79.08 points higher at an all-time high of 9,.772.84.
Gainers outpaced losers throughout the day with trading volume on the New York Stock Exchange reaching 838 million shares.
The Nasdaq Composite spent the day caught in a limited range, finishing 13.06 points up at 2,406.00. In a similar fashion, the S&P 500 index closed up 7 points at 1,286.84, also a new record high.
Bonds fell, hurt by a weaker dollar and impending corporate debt supply. The benchmark 30-year Treasury bond lost 12/32 of a point in price, for a yield of 5.55 percent.
The dollar fell against both the yen and the euro, absorbing a wave of profit taking after weeks of strength. 
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