DOW BACK ON HIGH GROUND; INDEX BREAKS 10,800 FOR FIRST TIME.Byline: Patricia Lamiell Associate Press Stocks ended mixed Tuesday, as the Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance industrials moved to record highs amid a return to manufacturing and basic materials stocks, but the Nasdaq composite The Nasdaq Composite is a stock market index of all of the common stocks and similar securities (e.g. ADRs, tracking stocks, limited partnership interests) listed on the NASDAQ stock market, meaning that it has over 3,000 components. It is highly followed in the U.S. sank on profit-taking in some technology shares. The Dow climbed 113.12 to 10,831.71, breaking 10,800 for the first time and topping its previous record, set Thursday, of 10,727.18. The Standard & Poor's 500 index added 2.76 to 1,362.80, enough to beat Monday's record close and reach its second consecutive new high. But the Nasdaq composite index Nasdaq Composite Index An index that indicates price movements of securities in the over-the-counter market. It includes all domestic common stocks in the Nasdaq System (approximately 5,000 stocks) and is weighted according to the market value of each listed , which climbed to a new high Monday, lost 49.64 to 2,602.41. Traders said DuPont's earnings, released early Tuesday, helped encourage investors to replay last week's move into the economically sensitive, or cyclical, stocks on the belief that the world economy is improving. ``DuPont's earnings and some positive comments from them helped the whole cyclical case here,'' said Joseph Battipaglia, chief investment strategist at Gruntal & Co. ``Investors believe in the bull story, and they're looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. growth at a reasonable price, and for the time being, they can find it in cyclical issues.'' Technology stocks, meanwhile, were subjected to ``a little light, uninformed profit-taking,'' said Arthur Hogan, chief market analyst at Jefferies & Co. in Boston. ``There is no fundamental news in that area; it's just that the prices got to such a raucous level.'' Bob Gasser Gas·ser , Herbert Spencer 1888-1963. American physiologist. He shared a 1944 Nobel Prize for research on the functions of nerve fibers. , head of block trading at J.P. Morgan & Co., said the Nasdaq was slowing down after hitting a new closing high Monday and ahead of some key earnings releases. He said investors were ``waiting on bated bate 1 tr.v. bat·ed, bat·ing, bates 1. To lessen the force or intensity of; moderate: "To his dying day he bated his breath a little when he told the story" breath'' for earnings from Internet companies America Online and Amazon.com., due out later Tuesday and today, respectively. AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. shares skidded 9 points to 153 on the Big Board, despite a growing consensus that the company's earnings, scheduled for release after the close of trading Tuesday, would beat expectations of 9 cents. Indeed, the largest online service provider did surpass analysts' forecasts, reporting third-quarter earnings tripled to $117 million, or 11 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . Shares of Amazon.com, meanwhile, fell 1.3125 to 205.875. The Dow was boosted early in the day by earnings reports. DuPont, a Dow component, reported earnings from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of 66 cents a share, down from 68 cents a year earlier but soundly beating analysts' expected 60 cents. DuPont rose 2.375 to 69.125. DuPont's strong results encouraged investors to buy other industrial shares, including other Dow stocks - Alcoa was up 2.125 to 55.375, Caterpillar gained 1.5625 to 63.5625, Union Carbide rose 1.375 to 49.625, and United Technologies was up 4.6875 to 143.875. The mood on Wall Street was helped by a report from the Conference Board that its index of consumer confidence rose for the sixth straight month in April, to 134.9 from a revised 134 in March. The index is a key indicator of future economic activity. |
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