Share prices closed slightly higher yesterday in quiet pre-holiday trading, retreating from an early 23 point gain for the Dow Jones industrials on profit taking ahead of the Christmas holiday.
The Dow index gained 4.62 points to finish at 6,489.02, while the broader market was generally lower.
Volume on the New York Stock Exchange was 344.44 million shares, with 1,120 issues higher, 1,377 lower and 804 unchanged.
Bond prices were moderately higher after rising on a weaker than expected University of Michigan consumer sentiment survey.
The yield on the 30 year long bond eased to 6.57 per cent from 6.60 per cent on Friday.
Chevron said it expected 1996 operational earnings to set a record, as it had achieved its highest level of liquid production in a decade.
CSFB analyst, Mr John Greaghty, said Motorola was expected to deliver better share holder returns in 1997, raising his 1997 earnings per share estimate to $2.50 dollars from $2.20.
