MARKET HITS ANOTHER RECORD

NEW YORK — The raging bull market pushed to new heights Monday as the Dow Jones Industrials soared 98.63 points to 5,683.60, bursting through the previous high of 5,642 set on March 5.
Retail and other fashion stocks were generally strong but with some exceptions.
Dayton Hudson jumped 2 3/8 to 86 1/2 following management projections last week of improved profits ahead. The Gap was up 1 3/8 to 56 3/8; J.C. Penney added 7/8 to 51; The Limited rose 5/8 to 20 1/8; May Department Stores gained 1/2 to 50 7/8, and Mercantile Stores rose 5/8 to 58 3/8.
Kmart topped the New York Stock Exchange’s most-active list, edging up 1/8 to 10 3/8 on a turnover of 14 million shares. Wal-Mart Stores, another active issue rose 5/8 to 24 3/8. It was the NYSE’s fourth-most-active issue as 7.5 million shares changed hands.
Nordstrom was one of the few retail losers, dipping 7/8 to 50 3/4.
St. John Knits fell 1 to 65 5/8 Monday after Rodman & Renshaw lowered the upscale manufacturer’s stock to “neutral” from “buy.” The investment firm said St. John reached its target price of 66. At the same time, Rodman raised Norton McNaughton to “buy” from “neutral.” Rodman noted that the women’s apparel manufacturer has taken the right steps to return the firm to consistent profitability. The stock closed up 1/4 to 9 1/4 in over-the-counter trading.

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