Market Report - New York

Blue chip stocks dipped yesterday as investors cashed in their profits in this week's bullish market, traders said.

The Dow Jones Industrial Average fell 66.52 points (0.83 per cent) to 7,906.50. Volume was 613 million shares, with 1,448 higher, 1,458 lower and 519 unchanged. The average yield on 30-year Treasury bonds fell to 5.805 per cent from 5.84 per cent Thursday.

The market did not react to the publication of a 4.3 per cent growth rate for the US economy for the fourth quarter, though analysts had forecast a 3.8 per cent rise.