posted 12-22-2000 05:40 PM         

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Two days after tumbling to a 22-month low, the Nasdaq surged over 7.5% today, as bargain-hunting investors found battered technology stocks too cheap to ignore. The tech-heavy index jumped out of the gate and saw little fluctuation until the last hour of the session, when it climbed steadily to finish at its session high of 2517, up 177 points on the day. Nearly all tech sectors finished higher, but its worth nothing that networking, internet, and chip issues led the late-session charge. The Dow also posted hefty gains, climbing 148 points to finish at 10635. The blue-chip index was buoyed by strength in big-cap techs and financials, which overcame losses in retail and autos. (source: CNNfn) http://cnnfn.cnn.com/2000/12/22/markets/markets_newyork/ http://www.investorguide.com/cgi-bin/daily.cgi?02968

Dow Jones Industrials: 10635.56 +148.27 +1.41%
Nasdaq Composite: 2517.02 +176.90 +7.56%
S&P 500: 1305.97 +31.11 +2.44%
30-year Treasury Bond: 5.389% -0.016

posted 12-22-2000 08:20 AM         

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It was a crazy day for the Nasdaq. At the open things looked pretty grim, but the market rebounded off of a dip below the 2300-point mark and took off. But the bargain hunting could not sustain the rally and the market traded wildly into the close. In the end, the Nasdaq broke its streak of 7-straight losing days by posting a 7 point gain. AT&T and Lucent, which both made earnings warnings, were major drags. The Dow had a far stronger day, holding onto triple-digit gains for most of the session. The blue-chips closed the day up 168. (source: CNNfn) http://cnnfn.cnn.com/2000/12/21/markets/markets_newyork/

Dow Jones Industrials: 10487.29 +168.36 +1.63%
Nasdaq Composite: 2340.12 +7.34 +0.31%
S&P 500: 1274.86 +10.12 +0.80%
30-year Treasury Bond: 5.405% -0.017

posted 12-19-2000 06:06 PM         

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Investors set themselves up for disappointment today - despite a nearly-unanimous consensus among analysts that the Fed would not cut interest rates, the market rallied ahead of the central bank's announcement in hopes of such an action. And when the Fed did not reduce rates, the market tanked. The Fed made it's announcement at 2:15; between that time and the close, the Nasdaq dropped over 150 points, falling a net 112.81 on the day and setting a new yearly low of 2511.71. The Dow followed a similar pattern, but its net loss was much more moderate: the blue-chip index dropped only 61.05 points to finish at 10584.37. (source: CNNfn) http://cnnfn.cnn.com/2000/12/19/markets/markets_newyork

Dow Jones Industrials: 10584.37 -61.05 -0.57%
Nasdaq Composite: 2511.71 -112.81 -4.30%
S&P 500: 1305.60 -17.14 -1.30%
30-year Treasury Bond: 5.468% +0.034

posted 12-18-2000 05:47 PM         

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Both the Dow and the Nasdaq jumped out of the gates, perhaps anticipating a change in bias from the Fed tomorrow. But, from there the indices moved in opposite directions. The Dow extended those early gains, eventually closing up 210 points, more than 2%. The Nasdaq, meanwhile, gave it all back and then some. At the close, the tech-heavy index was 29 points under par. The big cap tech stocks weighed on the Nasdaq as did the internet sector. Paving the way for the Dow's big gains were the financials, a good sign that this Dow rally was driven by speculation about the Fed's next move. (source: MSNBC) http://www.msnbc.com/news/158521.asp

Dow Jones Industrials: 10645.42 +210.46 +2.02%
Nasdaq Composite: 2624.52 -28.27 -1.08%
S&P 500: 1322.74 +10.59 +0.81%
30-year Treasury Bond: 5.434% +0.018

posted 12-14-2000 04:48 PM         

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The major indices spent the day mired in the red, as bad earnings news in the financial sector plagued the Dow and similar worries hammered the Nasdaq. The tech-heavy index spent most of the day posting only modest losses, but tanked in the last hour of trading to finish down 94 points. The Dow dropped precipitously in morning trading after merger partners Chase Manhattan and JP Morgan jointly warned of lower earnings, and spent the rest of the day trading in a tight range around -100 points. The index finished down 119. (source: MSNBC) http://www.msnbc.com/news/158521.asp

Dow Jones Industrials: 10679.99 -119.45 -1.11%
Nasdaq Composite: 2728.51 -94.26 -3.34%
S&P 500: 1340.93 -19.06 -1.40%
30-year Treasury Bond: 5.446% -0.032

posted 12-13-2000 05:41 PM         

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The presidential election impasse appears to have come to an end; unfortunately, it looks as though that eventuality was priced into stocks long ago. After the US Supreme Court handed out a decision that all but guarantees victory for George W. Bush, the Nasdaq tumbled 108 points, nearly 3.7%, amid the real trouble: the disappointing corporate earnings that have plagued the market for over a month (the latest came last night from Compaq). The Dow managed to fight off similar losses, finishing up 26 points, as drug and tobacco issues provided positive leadership - both sectors that stand to benefit from a Bush administration. (source: CNNfn) http://cnnfn.cnn.com/2000/12/13/markets/markets_newyork/

Dow Jones Industrials: 10794.44 +26.17 +0.24%
Nasdaq Composite: 2822.77 -109.00 -3.72%
S&P 500: 1359.98 -11.20 -0.82%
30-year Treasury Bond: 5.478% -0.050

posted 12-12-2000 05:32 PM         

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The Nasdaq pulled back from the 3000-point mark today, dropping 83 points on the day, about 2.75%. It is hard to point the finger for the losses. AMD and DoubleClick warned on earnings after the close yesterday, but neither was a big surprise and both posted gains on the day (DoubleClick picked up 16%). The markets also seemed to be waiting (in vain) for the Supreme Court to put an end to the election uncertainty. Perhaps, it was simple profit-taking after the nice Nasdaq run up to 3000. The Dow fared better, even though General Motors announced a massive restructuring and an earnings warning. The Dow gained 42 points on the day. (source: CNNfn) http://cnnfn.cnn.com/2000/12/12/markets/markets_newyork/

Dow Jones Industrials: 10768.27 +42.47 +0.40%
Nasdaq Composite: 2931.77 -83.33 -2.76%
S&P 500: 1371.18 -9.02 -0.65%
30-year Treasury Bond: 5.528% -0.010

posted 12-11-2000 05:45 PM         

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The Nasdaq was able to add to Friday's big gains, as follow-through buying was spurred by a belief that earnings warnings may be finally priced into many tech stocks. Semis also helped push the tech sector higher, after Intel announced new, powerful microchip technology (see story below). These factors combined to push the Nasdaq up 97 points on the day, closing above the 3000 watermark at 3014. The Dow's gains were hampered by selling pressure in retail stocks, amid concerns of slow consumer spending this holiday season. At the close, the blue-chip index gained only 13 points. Of course, investors still await the Supreme Court's decision over the recount in Florida, news which could send the market flying in either direction. (source: CNNfn) http://cnnfn.cnn.com/2000/12/11/markets/markets_newyork/

Dow Jones Industrials: 10725.80 +12.89 +0.12%
Nasdaq Composite: 3015.10 +97.67 +3.35%
S&P 500: 1380.19 +10.30 +0.75%
30-year Treasury Bond: 5.538% -0.010

posted 12-08-2000 05:25 PM         

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While the rally wasn't as huge as the one on Tuesday, it was impressive in its own right. The markets experienced a broad-based, high-volume rally today, led by the tech sector. The Nasdaq ended the day up 165 points, nearly 6%. The Dow was not nearly as impressive, picking up 96 points, about .9%. It was an unlikely scenario after the close yesterday when tech bellwether Intel preannounced an earnings miss. But, apparently that news had already been factored in (Intel rose nearly 5% on the day) and when the monthly jobs report showed that new job growth was cooler than expected, the markets took off. The markets also reacted positively to the news that the Florida courts announced would not disallow absentee ballots in two predominantly republican counties, another blow to Al Gore's presidential chances. (source: MSNBC) http://msnbc.com/news/158521.asp

Dow Jones Industrials: 10712.91 +95.55 +0.90%
Nasdaq Composite: 2917.43 +164.77 +5.99%
S&P 500: 1369.08 +25.53 +1.90%
30-year Treasury Bond: 5.548% +0.048

posted 12-07-2000 05:36 PM         

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The Nasdaq fell for the second day in a row after Tuesday's big gains, as the market was unable to gain positive momentum in the face of another round of earnings warnings; National Semiconductor and Motorola were the latest disappointments. Negative analyst comments concerning Microsoft also weighed heavily on the market, as resulting losses in tech blue-chips helped pull the Dow down 47 points before the close. The tech-heavy Nasdaq finished down 43.84 points on the day, with most sectors suffering under selling pressure. (source: MSNBC) http://www.msnbc.com/news/158521.asp

Dow Jones Industrials: 10617.36 -47.02 -0.44%
Nasdaq Composite: 2752.66 -43.84 -1.57%
S&P 500: 1343.54 -7.92 -0.59%
30-year Treasury Bond: 5.500% -0.022

posted 12-06-2000 05:42 PM         

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The battle is joined: has the bull finally managed to stampede the bear, or was yesterday just a temporary setback in a longer bear run? Two columnists state their cases. (source: TheStreet.com)
Bull: http://www.thestreet.com/comment/editorsletter/1201556.html
Bear: http://www.thestreet.com/funds/strategies/1201492.html

In brief:
- Online delivery company Kozmo.com has settled a discrimination charge made by a Washington-based civil rights group and agreed to address racial inequities in its delivery zones.

posted 12-06-2000 05:39 PM         

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Not so fast, bulls. Today, the markets came back down from the high of yesterday's rally. While many felt that the market turned a corner yesterday, companies reminded them that there are still earnings concerns in this slowing economy. Apple did a number on the tech sector when it announced after the close yesterday that it would miss estimates and Bank of America did the same for the financial sector today. At the end of a choppy day of trading, the Nasdaq had given back 93 points, about 3.2%. The Dow spent almost all day in the red and finished with a loss of 234, more than 2%. (source: CNNfn) http://cnnfn.cnn.com/2000/12/06/markets/markets_newyork

Dow Jones Industrials: 10664.38 -234.35 -2.15%
Nasdaq Composite: 2796.50 -93.30 -3.23%
S&P 500: 1351.45 -25.09 -1.82%
30-year Treasury Bond: 5.522% -0.068

All times are EST (US)