DOW CLIMBS 212.73; MERGERS, TECH NEWS FUEL BIG INCREASE.Byline: Bill Barnhart Chicago Tribune Chicago Tribune Daily newspaper published in Chicago. The Tribune is one of the leading U.S. newspapers and long has been the dominant voice of the Midwest. Founded in 1847, it was bought in 1855 by six partners, including Joseph Medill (1823–99), who made the paper Stocks broke out of their recent lethargy Monday as Wall Street applauded several merger announcements and rumors and some prominent computer-technology companies gave upbeat presentations at a brokerage conference. The rally was aided by continued strength in the U.S. dollar against the yen and the euro after world finance ministers, meeting over the weekend, took no action to counter the recent trend. But Wall Street trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. remained moderate and, once again, gains in the major indexes were dominated by a relatively few big-name stocks. The Dow Jones industrial average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. climbed 212.73 points, or 2.3 percent, to 9,552.68. It was the Dow's third-biggest point gain this year and left the index less than 100 points from its all-time high, set in January. New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. volume totaled 716 million shares. The broader Standard & Poor's 500 index rose 32.95 points, or 2.7 percent, to 1,272.14, as winning stocks led losers by nearly a 2-to-1 ratio among NYSE-listed issues. The S&P 500 index stands within 12 points of its all-time high, set Feb. 1. 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 gained 58.41, or 2.6 percent, to 2,342.01, well short of its record high of 2,533.44, also set Feb. 1. Several leading computer-technology companies, included Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. , Cisco Systems and America Online, made presentations Monday to a technology-stock conference sponsored by BancBoston Robertson Stephens. Dell Computer, which plunged earlier this month on worries about the company's sales outlook, led the Nasdaq most-active list most-active list The list of the most-active securities in a specific market during a defined period. The most-active list is viewed with interest by analysts because it includes unusually active stocks frequently accompanied by large price movements. and rose $4.75, to $84.875. CAPTION(S): Photo, Chart PHOTO (Color) Traders work on the floor of the New York Stock Exchange, where indexes posted major gains. Suzanne Plunkett/Associated Press CHART: TRACKING THE DOW Monday's Dow Jones industrial average at 15-minute intervals: Friday's close: 9,339.95 Monday's close: 9,552.68 Change: + 212.73 Source: Associated Press research |
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