Market diary.Stocks stabilized last week, rising to their highest levels in more than two months, mainly due to a pullback in crude oil prices and an unexpected rise in U.S. crude oil inventories. 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 percent for the week ended June 23, the Nasdaq composite The Nasdaq Composite is a stock market index of all of the common stocks and similar securities (e.g. ADRs, tracking stocks, limited partnership interests) listed on the NASDAQ stock market, meaning that it has over 3,000 components. It is highly followed in the U.S. rose 1.1 percent and the S&P 500 gained 0.9 percent. The LABJ LABJ Los Angeles Business Journal 200 Index of local stocks rose 0.7 percent with gainers outnumbering decliners 106 to 84. The best performing industry group was energy and utilities, rising 5.5 percent, followed by construction and engineering, up 3.7 percent. The software sector performed the worst, dropping 2.8 percent, followed by insurance firms (down 1.9 percent). Among the week's best performing stocks were PC Mall Inc., which rose 18.7 percent to $19.37 a share, and Arrowhead arrowhead, any plant of the genus Sagittaria, widely distributed marsh or aquatic herbs of the primitive family Alismataceae (water-plantain family). The name derives from the arrowhead-shaped leaves of many species. Research, up 11.3 percent to $6.01. Losers included Fremont General Corp., off 16 percent to $17.68, and JB Oxford Holdings Inc., down 21.7 percent to $2.20. Among the most active stocks in the LABJ 200 was Gemstar-TV Guide International Gemstar-TV Guide International, Inc. is a media company that licenses interactive program guide technology to multichannel operators, such as cable and satellite television providers, and consumer electronics manufacturers, video recorder scheduling code under brands such as VCR Inc., which settled a suit brought by the Securities and Exchange Commission for $10 million. Its stock gained 5 percent to $4.82. |
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