Market diary.U.S. stocks closed higher for the week ended July 5, though investors were unnerved by North Korea's missile tests and rising employment that could signal an uptick in inflation. 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 1.6 percent to 11,151.80, while the Standard & Poor's 500 Index gained 2 percent to 1,270.91. 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 also rose 2 percent to 2,153.34 while the LABJ LABJ Los Angeles Business Journal 200 Index gained 2.6 percent to 130.48. Advances outpaced declines by 135 to 56 with nine issues unchanged. Seven stocks in the LABJ 200 Index hit new highs while seven hit new lows. The automotive, real estate and manufacturing sectors showed the strongest gains up 8 percent, 6 percent and 4 percent, respectively. Energy drink maker Hansen Natural Corp. continued its stratospheric strat·o·spher·ic adj. 1. Of, relating to, or characteristic of the stratosphere. 2. Extremely or unreasonably high: "money borrowed at today's stratospheric rates of interest" rise, up 22 percent to $205.35, a new 52-week high. Salem Communications Salem Communications (NASDAQ: SALM) is a media company specializing in religious and conservative talk radio which operates in the United States, with 99 U.S. commercial radio stations (pending acquisitions) that are primarily concentrated in the nation's biggest markets, Corp. shares rose 18 percent to $13.80 a share after its conservative radio station WITH-AM in Baltimore launched a Web site promoting political activism. Personalized postage issuer Stamps.com fell 11 percent to $24.41 a share after an analyst downgraded the company citing heavier competition. Industrial piping and construction supply company Ameron International Corp. rose 9 percent to $62.30 a share after announcing the sale of a coatings units for $115 million to PPG Industries Inc. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion