Market diary.Stocks were mixed for the week ended Sept. 28. Each of the three major indexes gained ground while the LABJ LABJ Los Angeles Business Journal 200 Index of local stocks declined, led by Amgen Inc.'s 5.4 percent decline. 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 0.9 percent to 10,473.10. 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 rose 0.4 percent to 2,115.40 and the broader S&P 500 Index rose 0.6 percent. The LABJ 200 fell 1 percent. Amgen, with a market capitalization nearly $100 billion, is the most heavily weighted stock in the LABJ 200. Its drop pushed down the LABJ 200's biomedical and pharmaceutical sector by 5.2 percent for the week, while computers and electronics fell by 3.8 percent and financial services fell by 2.2 percent. Internet stocks made up for some of the losses, with a 5.6 percent gain. Among this group, J2 Global Communications j2 Global Communications (Nasdaq:JCOM) is a company based in Hollywood, California that offers messaging and communications services. Its most popular service is called "eFax", which allows users to send and receive faxes via the Internet. j2 was previously called JFAX. Inc. shares rose 9.4 percent to $40.52, Valueclick Inc. shares rose 9.6 percent to $16.99, and Homestore inc. shares hit a 52-week high en route to a 1.5 percent gain to $4.01 a share. Altogether, 116 stocks in the LABJ 200 advanced while 76 declined and eight were unchanged for the week. Among the biggest decliners were Reinhold Industries Inc., down 15.8 percent to $19.45, and SCPIE SCPIE Southern California Physicians Insurance Exchange Holdings Inc., down 10.5 percent to $15.75. |
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