Market diary.The major market indices rose in the week ended Aug. 3 despite record-high oil prices that followed the death of Saudi King Fahd. 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 0.6 percent to 10697.6, 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 1.4 percent to 2216.81 and the S&P 500 0.7 percent to 1245.04. The LABJ LABJ Los Angeles Business Journal 200 index of local stocks was 1.1 percent higher at 130.1, with advances leading declines 110 to 82, while 41 companies reached new highs and four hit new lows. Leading sectors included healthcare, up 8 percent, driven by a deal between Protein Design Labs and Biogen Idec that could be worth $660 million. Communications was up 4.1 percent following an FCC report that might enable Baby Bells to expand broadband networks. Computers, peripherals and electronics were down 4.3 percent after Analog Devices lowered its third quarter revenue forecast. Among local gainers, Capstone Turbine Corp. was up 46.7 percent to $2.70 after New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. said it would allow its products to be installed without permits. MannKind Corp. was up 28 percent to $11.43 after it raised $175 million to enable it to complete clinical trials of its lead product. On the downside On the Downside is an EP by the San Diego, California band Counterfit, released by Alphabet Records in 2000. It was the band's first EP, recorded shortly after the members had relocated to San Diego from Fairfield County, Connecticut. , International Rectifier Corp. was down 14.9 percent to $46.68 after reporting a 16 percent decline in fourth quarter profit. |
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