Nasdaq stages turnaround

Published: 4 August 2000 y., Friday
A wave of bargain hunting lifted the Nasdaq composite index from a 137-point hole at mid-afternoon Thursday as investors returned to Cisco Systems, Sun Microsystems and Oracle -- all battered over the last two weeks. In a comeback showing how fast Wall Street sentiment can shift, technology stocks, which only hours ago were shunned, drew buyers. The turnaround comes hours ahead of Friday's closely watched report on July payrolls. But Ken Sheinberg, head of listed trading for S.G. Cowen, said both the afternoon gains and the morning losses signify little in a market concerned about how much earnings growth will slow in the months ahead. Just before 1:30 p.m. ET, the Nasdaq rose 21.45 to 3,679.91 after falling as low as 3,521.14. The index hasn't closed below 3,600 since May. The Dow Jones industrial average rose 4.77 to 10,692.66, after rising three straight winning sessions. The S&P 500 gained 4.46 to 1,432.02. Still, more stocks fell than rose in moderate to heavy trading. Declining issues on the New York Stock Exchange topped advancing ones 1,566 to 1,132 on volume of 630 million shares. Nasdaq losers beat winners 2,341 to 1,350 as more than 1.1 billion shares changed hands.
Šaltinis: CNNfn
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

FDI in Lithuania Grew by 5 % and Lithuania’s Investment Abroad Increased by 14 %

Statistics Lithuania has calculated that, based on provisional data, FDI in Lithuania in 2009 amounted by 5.3 % more than in 2008. Also, direct investment of Lithuanian enterprises abroad grew by 13.9 % in 2009. more »

Fish industry voices concern over foreign fish and falling prices

Concerns about foreign fish being sold in Europe and what to do about the future of Europe's fisheries industry were aired in a hearing held by the Fisheries Committee on 8 April. more »

Future of European agriculture - have your say

EU opens public debate on its agricultural policy, the prelude to a major reform in 2013. more »

Commission launches €35 million call for projects that turn environmental challenges into business opportunities

The European Commission today launched a €35 million call for eco-innovation projects to be funded under the Competitiveness and Innovation Programme. more »

Bank SNORAS group consolidates the activity of the Baltic investment companies

Bank SNORAS group company Finasta Holding recruits all funds management and investment companies of the group in the Baltic States. more »

European Central Bank and European Commission hold joint conference on "financial integration and stability: the legacy of the crisis"

The European Central Bank (ECB) and the European Commission are jointly holding a high-level conference on financial integration and stability at the ECB’s premises in Frankfurt am Main. more »

12 April 2010 - ECB signals a gradual recovery of the European financial integration process

Today, the European Central Bank (ECB) is publishing its fourth Report on Financial Integration in Europe, which notes the return towards integration in the European financial markets. more »

World Bank Group: Record US$100 Billion Response Lays Foundation for Recovery from Global Economic Crisis

World Bank Group financial commitments since July 2008, just before the full fury of the financial crisis hit, reached US$ 100 billion today as the institution helped countries respond to and recover from the global downturn. more »

IMF Executive Board Concludes 2010 Article IV Consultation with Serbia

On March 31, 2010, the Executive Board of the International Monetary Fund concluded the Article IV consultation with Serbia. more »

United Kingdom Contributes US$7.5 Million to Support IMF Technical Assistance in Statistics in Africa

The International Monetary Fund and the United Kingdom’s Department for International Development have launched a new project to improve macroeconomic statistics in 23 African countries. DFID will provide US$7.5 million over the next five years to support the project. more »