THE GULF WAR : Market Update

OIL: Oil prices dropped for first time this week. Crude closed with a loss of 33 cents at $21.71 a barrel.

DOW INDUSTRIALS: The industrial average turned in a strong showing, rising 24.01 to 2,643.07 amid revived optimism about the outlook for interest rates and progress in the war against Iraq.

CREDIT MARKETS: Higher unemployment figures and an optimistic report by American generals on the war helped send bond prices slightly higher.

METALS: Gold fell $5.40 an ounce to $373.00 on the in New York while silver plunged 14.7 cents an ounce to $3.761.

CURRENCY: The dollar held its ground amid a lack of significant war and economic developments.