January 2, 1999

Overseas stocks rebounded sharply in the fourth quarter of 1998, both in developed and emerging markets. But in some emerging markets even 100 percent rallies were not enough to make up for the selloffs that pushed stocks to their lows just as the quarter began. Many of these markets still ended the year with declines. Consider Indonesia. Its stock market surged 120.6 percent in dollar terms in the fourth quarter, according to the emerging-market indexes of the International Finance Corporation, the private sector financing arm of the World Bank. But for the year, the stock market was down 29.3 percent.

Nen O'Gorman finds renewed satisfaction running a one-room Montessori-style preschool in Harlem six months after being ousted by trustees of Children's Storefront School, a Harlem academy he founded and had led since 1966; photo (M)

All United States financial markets, Government offices and banks were closed in observance of New Year's Day.

A day after 11 European countries christened the euro as their new currency, financial institutions across the Continent began the enormous job of reprogramming their electronic networks before markets reopen Monday. Although most institutions are bracing for technical glitches, financial executives say they are cautiously optimistic about a smooth start. And investment experts predict the euro will boost the popularity of European stocks and bonds. Article, page A5.

She knows it would make for a nice, romantic story, but Chamique Holdsclaw cannot tell a lie. She did not grow up dreaming about playing basketball in Madison Square Garden, did not go to Knicks games very often as a child and will not feel jitters, tingles or any other manifestation of awe when she steps onto the famed court for the first time in her career. Although she is excited about playing in the Garden, Holdsclaw has been too many places and done too many things to be overwhelmed by the setting. So the heralded senior from Astoria, Queens, said there will be no pressure to put on a show for the hometown crowd when Tennessee plays Rutgers tomorrow at 2 P.M.