Market diary.The major market indices all finished the week ended April 27 making small gains after a string of upbeat economic news, including a drop in oil prices and a higher-than-expected rise in housing starts. 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. rose 1.9 percent to 10,198.80; the broader Standard & Poor's 500 Index gained 1.7 percent to 1156.38; 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 inched up 0.9 percent to 1930.43. Locally, the LABJ LABJ Los Angeles Business Journal 200 index of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. companies rose an even 1 percent to 112.11. Declines led advances 108 to 82, with 16 stocks hitting new lows and only seven reaching new highs. The financial services sector rose 7.3 percent; real and construction/engineering were up more than 3 percent. Hurt by the troubles of domestic car makers, the automotive/plastics/metals sector fell 5.1 percent. Among leading gainers, Overhill Farms Inc., a Los Angeles-based supplier of frozen foods, rose 26.9 percent to $2.50 a share after reporting strong earnings and sales. Stamps.com Inc. was up 24.5 percent to $19.91 the U.S. Postal Service The U.S. Postal Service (USPS) processes and delivers mail to individuals and businesses within the United States. The service seeks to improve its performance through the development of efficient mail-handling systems and operates its own planning and engineering programs. brought back its personalized stamp service. Among the biggest losers was Arrowhead Research Corp., which dropped 17.9 percent to $2.80 after announcing a warrant redemption program. Superior Industries International, a manufacturer of aluminum wheels to automakers, continued its slide losing, 12.2 percent to $21.04. |
|
||||||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion