Market diary.U.S. stocks eked out minor gains during the week ended July 26 as investors tried to keep hope alive that the Federal Reserve will stop raising interest rates to slow the economy. 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 0.8 percent to 11,102.50, while the Standard & Poor's 500 Index rose 0.7 percent to 1,268.40. 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 continues to struggle, falling 0.5 percent to 2,070.46. The eclectic small cap LABJ LABJ Los Angeles Business Journal 200 Index outperformed the rest, rising 1.6 percent to 130.63. Declines outpaced advances, 103 to 90, with seven issues unchanged. Locally, 27 stocks hit new lows and seven reached new highs. An 8 percent jump in Amgen Inc.'s stock to $69.61 per share helped lift the ailing biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. sector 7 percent, the biggest sector gain of the week. Shares of Occidental Petroleum rose 5.6 percent to $106.57, while Edison International notched up 4.5 percent to $41.34 a share, bolstering the energy and utilities sector. Internet stocks were dragged down as shares of Digital Insight Corp. tanked, falling 32 percent to $22.11 a share. The online banking services firm matched second-quarter earnings estimates but only signed half the number of clients as in previous quarters. A recent high-flier high·fli·er also high-fli·er n. 1. One who is extravagant or extreme in manner or opinions. 2. A stock that sells well above its original value. , Hi-Shear Technology Corp., fell 12 percent to $13.89 a share on profit-taking, though the aerospace firm's stock is up 250 percent in the past year. |
|
||||||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion