Newspaper article THE JOURNAL RECORD

Stock Markets End Mixed

Newspaper article THE JOURNAL RECORD

Stock Markets End Mixed

Article excerpt

NEW YORK (AP) -- Technology stocks suffered another bout of volatility Wednesday, giving up a major advance to finish with slender gains and proving that the nervousness that sent Wall Street into a tailspin on Tuesday lingers.

Investors were torn between hunting for bargains and waiting for the dust to settle after Tuesday's head-spinning session. Ultimately, the largest, best-known technology names held their gains. Profit-taking continued in both the technology sector and the blue-chip Dow Jones industrials.

"It's not behaving nearly as dramatically as yesterday, but this is still a wild market," said Larry Lawler, manager of equity trading at Dreyfus in New York.

The Nasdaq Composite rose 20.33 to 4,169.22. During the regular trading day, the index fell as much as 139.80 and rose as much as 133.40. The Dow Jones Industrial Average dropped 130.92 to close at 11,033.92 after giving up an early gain. The Standard & Poor's 500 index fell 7.36 to 1,487.37.

The Russell 2000, which has also dropped sharply this week, rose 11.92 to 518.04.

Volume was fairly modest, but volatility remained. Stocks were down at the opening as traders struggled to find their footing after Tuesday's chaotic selloff, during which both the Nasdaq and the Dow fell more than 500 points only to close with modest, double-digit losses.

The wildness on Wall Street rattled most overseas markets, which made it even more difficult for the U.S. market to mount any real advance in morning trading. As the session wore on, however, some bargain-hunting investors stepped in, their confidence boosted by some calming words from major market movers.

Wednesday morning, Abby Joseph Cohen, chief investment strategist at Goldman Sachs, delivered an upbeat message at a White House conference on the "new economy."

"For the past decade, we have been enthusiastic about the outlook for U. …

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