Dow Gains 14, Ignoring 5th Anniversary of Crash
NEW YORK, Oct. 19ÛÓWall Street avoided the ghosts of the Oct. 19, 1987, stock market crash today and rose moderately by staying focused on corporate earnings.</br></br>The Dow Jones industrial average closed up 14.04 points, at 3188.45. Advancing issues outnumbered declining ones by nearly 3 to 2 on the New York Stock Exchange, with volume an estimated 218.73 million shares, compared with 234.48 million in the previous session.</br></br>Traders said the fifth anniversary of the marketÛªs 508-point plunge, its worst day ever, was a relatively tame event. Investors focused on earnings and on politics ahead of the third and final presidential debate tonight.</br></br>ÛÏWhatever buying that has been done was selective,Û said Alice Sadlo, a first vice president at McDonald & Co. "The market is hanging in here fairly well. The fifth-year anniversary had some people spooked just because of the date. ThereÛªs been a lot of press on it.Û</br></br>Over the past several weeks, the stock market has grown more comfortable with the prospect of a presidential election win by Arkansas Gov. Bill Clinton, analysts said.