Ramsey
02-09-2002, Mon 9:34 AM
عن دواوجونز نيوزواير
US SUMMARY: Bad News And Investors Take A Holiday
DJIA 8663.50 loss 7.50 dn 0.1%
NASDAQ 1314.85 loss 20.92 dn 1.6%
S&P 500 916.07 loss 1.73 dn 0.2%
Dow Future 8635.00 loss 20.00 dn 0.2%
NASDAQ Future 938.00 loss 5.50 dn 0.6%
S&P Future 910.60 loss 5.50 dn 0.6%
10-Yr US Treasury: 4.13% unchanged
NEW YORK (Dow Jones)--Wall Street bumped through a quiet session Friday, with blue chips rising on some upbeat economic news and then dropping back as investors played it safe before the Labor Day weekend. Treasury bond prices ended mixed.
STOCKS: Analysts shrugged off Friday's trading, which came amid very light volume ahead of the holiday. The session capped a lackluster week that was notable mostly for profit-taking from five weeks of advances. It also ended a month in which the stock market started showing some meaningful signs of health after its prolonged slump.
"We are really going to start over after Labor Day and sink our teeth into good trading. Will it be the result of economic news? We don't know," said Stephen Carl, principal and head of equity trading at The Williams Capital Group. "We have to have strong economic numbers and strong earnings numbers."
Among the economic reports Friday, analysts said investors were heartened by news that manufacturing activity increased in the Midwest as the Purchasing Management Association of Chicago index of area business activity rose to 54.9 in August. The index is considered a harbinger of the Institute for Supply Management's national survey on manufacturing, due to be released Tuesday.
The University of Michigan's consumer sentiment index slipped to 87.6 in its August survey, a weaker reading than analysts were expecting.
Technology suffered the brunt of Friday's selling, tumbling on negative developments among wireless, chip and networking companies.
BONDS: U.S. Treasury bond prices were mixed Friday, after being pushed from their highs following a sharp rise in the Chicago Purchasing Management August manufacturing index.
In addition to the data, the market was treated to an address by Federal Reserve Chairman Alan Greenspan, who defended the Fed's actions during the stock bubble of the late 1990's.
US SUMMARY: Bad News And Investors Take A Holiday
DJIA 8663.50 loss 7.50 dn 0.1%
NASDAQ 1314.85 loss 20.92 dn 1.6%
S&P 500 916.07 loss 1.73 dn 0.2%
Dow Future 8635.00 loss 20.00 dn 0.2%
NASDAQ Future 938.00 loss 5.50 dn 0.6%
S&P Future 910.60 loss 5.50 dn 0.6%
10-Yr US Treasury: 4.13% unchanged
NEW YORK (Dow Jones)--Wall Street bumped through a quiet session Friday, with blue chips rising on some upbeat economic news and then dropping back as investors played it safe before the Labor Day weekend. Treasury bond prices ended mixed.
STOCKS: Analysts shrugged off Friday's trading, which came amid very light volume ahead of the holiday. The session capped a lackluster week that was notable mostly for profit-taking from five weeks of advances. It also ended a month in which the stock market started showing some meaningful signs of health after its prolonged slump.
"We are really going to start over after Labor Day and sink our teeth into good trading. Will it be the result of economic news? We don't know," said Stephen Carl, principal and head of equity trading at The Williams Capital Group. "We have to have strong economic numbers and strong earnings numbers."
Among the economic reports Friday, analysts said investors were heartened by news that manufacturing activity increased in the Midwest as the Purchasing Management Association of Chicago index of area business activity rose to 54.9 in August. The index is considered a harbinger of the Institute for Supply Management's national survey on manufacturing, due to be released Tuesday.
The University of Michigan's consumer sentiment index slipped to 87.6 in its August survey, a weaker reading than analysts were expecting.
Technology suffered the brunt of Friday's selling, tumbling on negative developments among wireless, chip and networking companies.
BONDS: U.S. Treasury bond prices were mixed Friday, after being pushed from their highs following a sharp rise in the Chicago Purchasing Management August manufacturing index.
In addition to the data, the market was treated to an address by Federal Reserve Chairman Alan Greenspan, who defended the Fed's actions during the stock bubble of the late 1990's.