Market diary.Stocks soared across the board for the week ended Jan. 11 as the Federal Reserve signaled that interest rates have peaked. The Dew Jones Industrial Average rose 1.5 percent to close at 11,043.40, the first time it has topped the 11,000 mark in more than four years. 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 was up 3 percent to 2331.36; and the S&P 500 was up 1.6 percent to 1,294.18. The LABJ LABJ Los Angeles Business Journal 200 Index of local stocks was 2.4 percent higher at 128.91. Advances led declines 129 to 64 as 32 companies hit new highs and eight fell to new lows. Among the top performing sectors were online, software, communications, miscellaneous services, and construction and engineering. Amexdrug Corp. was the leading gainer for the week, up 45 percent, to $2.90, on news that a subsidiary would be unveiling a skincare product line. Shares of Prospect Medical Holdings Inc. were up 17 percent, to $7, after reporting record annual revenues and a quarterly operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. increase. PeopleSupport Inc. shares rose 14 percent, to $9.94, after the outsource customer care company announced the acquisition of Rapidtext Inc. The insurance, and biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. and pharmaceutical sectors showed the worst performance, with North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Scientific Inc. down 13 percent to $1.90 after reporting a loss in the fourth quarter. |
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