Blue-Chip Stocks Decline a Bit; Firstar, IBM, J.P. Morgan Shine
NEW YORK -- Blue-chip stocks were moderately lower on Wednesday, while the broad market edged higher in choppy preholiday trading.</br></br>While trading activity was lighter than usual, "it was good volume for the day before Thanksgiving," said James Herrick, managing director of trading at Robert W. Baird. After being closed yesterday for Thanksgiving, the stock market will shut early today, at 1 p.m. EST.</br></br>The Dow Jones Industrial Average fell 14.17, or 0.18%, to 7794.78. Standard & Poor's 500-stock index rose 0.82, or 0.09%, to 951.64.</br></br>Banks were among the day's biggest winners. Bank of New York rose 1 1/8 to 53 1/8, BankBoston gained 1 13/16 to 88 3/4, and Firstar jumped 2 3/16 to 39 9/16.</br></br>However, First Chicago NBD, which Tuesday was sharply higher on takeover speculation, said it isn't in talks with Banc One, which was named as its suitor, and its stock slid 15/16 to 78 1/8. Banc One was down 3/16 to 51 5/16.