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The Dow Jones Industrial Average ended at the day's high and the Nasdaq Composite Index fluttered up just over the flatline, ending a tumultuous week.

The Dow got the most support from

J.P. Morgan


, the banking giant that is merging with

Chase Manhattan Bank


. Morgan, up 7.7%, climbed back in the past week or so from am early September selloff. It was moving higher on general strength in financial stocks today.

Hey, if you're buying, why not pick up a cheap one? Chase also jumped, 6.7% higher. The two financials have been moving in sync with each other since they announced their marriage plans.

The market was being fueled by enthusiasm left over from yesterday's rally, seeing darn good numbers from fiber-optics leader

JDS Uniphase



gross domestic product

figures that indicate a slowing economy.

JDS, which was bullish outlook for coming quarters in its third-quarter

earnings report, gained 3.8%. And while the company's earnings news was good, some analysts are skeptical of the mismatch between the numbers for



and JDS. (

earlier wrote about

Nortel's earnings, which showed disappointing revenue.) Nortel ended down 6.2% to $42.56.

But the fun in fiber optics was being challenged by negativity in biotech on news that



lowered its

sales projections and earnings forecast.

Back in the Dow,






contributed to the index's upside, with a total of more than 26 points to the positive. Microsoft was the victim of a hack attack on Thursday, which

covered in

in a separate story.

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Sector Watch

Oil stocks felt pressured again. The poor things haven't known which way to go all week. The

American Stock Exchange Oil & Gas Index

was down 1.4%, while the

Philadelphia Stock Exchange Oil Service Index

fell 5%. This morning,

Goldman Sachs

cut oil service stock

Cooper Cameron's


2000 and 2001 earnings estimates. The stock was 9.6% lower.

An increase in optimism was putting financials on the upside. The

American Stock Exchange Broker/Dealer Index

was 1.8% higher.

Merrill Lynch



Lehman Brothers


were two of the sector's strongest components. The

Philadelphia Stock Exchange/KBW Bank Index

lately was up 2.8%, and the

S&P Insurance Index

was jumping 1.5%.

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Bonds initially rallied after the GDP numbers were released, but then fell back.

The benchmark 10-year

Treasury note was down 1/32 to 100 5/32 to yield 5.728%.

The 30-year

Treasury bond was down at 107 6/32, yielding 5.742%.

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