Market diary.Soaring oil prices and rising interest rates were the dominant themes in a week that saw Chevron Corp. complete its takeover of El Segundo-based Unocal Corp. and Whirlpool Corp. up its bid for Maytag Corp. For the week ended Aug. 10, 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. fell 1 percent to 10,594.40; 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 fell 2.7 percent to 2157.81 and the S&P 500 dropped 1.3 percent to 1229.13. The LABJ LABJ Los Angeles Business Journal 200 Index of local stocks fared worse, falling 2.8 percent to 126.44, with 61 stocks advancing, 127 declining and 12 remaining unchanged. Despite the down week, 14 stocks hit new highs and just two hit new lows. The index was dragged down by the real estate sector, which fell 6.8 percent, and construction/engineering dropped 5.7 percent. Automotive/plastics/metals was on of the few bright spots, rising 0.8 percent, while Internet stocks nudged up 0.2 percent. On the upside, Homestore Inc. rose 55.6 percent, to $4.03, after reporting positive earnings and beating analyst expectations. Fuel-cell maker Enova Systems Inc. rose 17.6 percent after raising $18 million in a listing on London's AIM exchange. But shares of digital video surveillance company Global e-Point Inc. fell 26.2 percent to $5.22 as merger talks with X-ray screener Astrophysics Inc. stalled, and WPT WPT World Poker Tour WPT Waypoint WPT Wisconsin Public Television WPT Watson Poker Tour WPT Wonderlic Personnel Test WPT Wavelet Packet Transform WPT Wireless Power Transmission WPT Windfall Profit WPT Wireless Personal Terminal WPT Word Processing Technician Enterprises Inc. fell 16.6 percent to $16.98 on continuing disillusionment Disillusionment Adams, Nick loses innocence through WWI experience. [Am. Lit.: “The Killers”] Angry Young Men disillusioned postwar writers of Britain, such as Osborne and Amis. [Br. Lit. with gaming stocks. |
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