Buyers returned to Wall Street in earnest on Friday, lured by Microsoft's upbeat outlook and lower prices after three days of declines. Investors sent stocks sharply higher, pushing the Dow Jones industrials up nearly 140 points. The Dow closed up 137.33. or 1.5 percent, at 9,188.15. more than wiping out the 126.33-point loss from the previous three sessions. The broader market also rallied after three straight declines. The Nasdaq composite index rose 10.48, or 0.6 percent, to 1.708.50, having dropped 49.95 points on Thursday — the biggest one-day loss in four months. The Standard & Poor's 500 index advanced 11.59, or 1.2 percent, to 993.32. Still. Friday's advancs weren't enough to make it a winning week on Wall Street.penny stocks
The market's major gauges ended mixed. While the Dow rose 0.8 percent, the Nasdaq fell 1.5 percent and the S&P forfeited 0.5 percent. Friday's rally was owed largely to Microsoft Although the software maker missed quarterly earnings expectations by a penny late Thursday, it announced that it was raising its outlook for fiscal year 2004. That was just the kind of news investors were craving. On Friday. Microsoft rose 39 cents to S27.08. "'Microsoft is setting the tone. People were looking for that big giant to say something good, and they did." said Todd Clark, head of listed equity trading at Wells Fargo Securities. The Nasdaq has had the largest advance from the market's March 11 lows and was up 34.4 percent at the end of Friday's session. The Dow has risen 22.1 percent since March 11, whi le the S&P has gained 24.1 percent Advancing issues outnumbered decliners more than 2 to 1 on the New York Stock Exchange. Consolidated volume was l ight at 1.67 billion shares, down from Thursday's 2.06 billion shares. The Russell 2000 index, the barometer of smaller company stocks, rose 4.83, or 1.1 percent, to 464.76. Japan's Nikkei stock average finished Friday up 0.3 percent In Europe, France's CAC-40 ended Friday essentially flat, slipping 0.01 percent Britain's FTSE 100 advanced 0.4 percent and Germany's DAX index gained 1.1 percent Bonds The price of the benchmark 10-year Treasury note declined Vi point or $5.00 per SI.000 in face value. Its >ield, which moves in the opposite direction, rose to 4.01, up from 3.94 percent late Thursday Stocks in the news NYSE Lear Corp. was up $2 24 at $51.94 Prudential Securities raised its recommendation on the company, which makes autorr.otr.-a interiors. KeyCorp was up 73 cents at $26 24. The banking company posted second-quarter earnings a penny a share higher than Wall Street's estimate. Mattel Inc. was down 10 cents at S19.75. The toy maker's quarterly earnings missed analysts' forecast by 2 cents a share Nasdaq Xilinx Inc. was down 19 cents at S26 69. UBS Warburg upgraded Xilinx, maker of integrated circuits. Landstar System Inc was down Si.31 at $61.20. penny stocks
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The market's major gauges ended mixed. While the Dow rose 0.8 percent, the Nasdaq fell 1.5 percent and the S&P forfeited 0.5 percent. Friday's rally was owed largely to Microsoft Although the software maker missed quarterly earnings expectations by a penny late Thursday, it announced that it was raising its outlook for fiscal year 2004. That was just the kind of news investors were craving. On Friday. Microsoft rose 39 cents to S27.08. "'Microsoft is setting the tone. People were looking for that big giant to say something good, and they did." said Todd Clark, head of listed equity trading at Wells Fargo Securities. The Nasdaq has had the largest advance from the market's March 11 lows and was up 34.4 percent at the end of Friday's session. The Dow has risen 22.1 percent since March 11, whi le the S&P has gained 24.1 percent Advancing issues outnumbered decliners more than 2 to 1 on the New York Stock Exchange. Consolidated volume was l ight at 1.67 billion shares, down from Thursday's 2.06 billion shares. The Russell 2000 index, the barometer of smaller company stocks, rose 4.83, or 1.1 percent, to 464.76. Japan's Nikkei stock average finished Friday up 0.3 percent In Europe, France's CAC-40 ended Friday essentially flat, slipping 0.01 percent Britain's FTSE 100 advanced 0.4 percent and Germany's DAX index gained 1.1 percent Bonds The price of the benchmark 10-year Treasury note declined Vi point or $5.00 per SI.000 in face value. Its >ield, which moves in the opposite direction, rose to 4.01, up from 3.94 percent late Thursday Stocks in the news NYSE Lear Corp. was up $2 24 at $51.94 Prudential Securities raised its recommendation on the company, which makes autorr.otr.-a interiors. KeyCorp was up 73 cents at $26 24. The banking company posted second-quarter earnings a penny a share higher than Wall Street's estimate. Mattel Inc. was down 10 cents at S19.75. The toy maker's quarterly earnings missed analysts' forecast by 2 cents a share Nasdaq Xilinx Inc. was down 19 cents at S26 69. UBS Warburg upgraded Xilinx, maker of integrated circuits. Landstar System Inc was down Si.31 at $61.20. penny stocks
Related Posts :
Takeover news draws Dow closer,but not over magic 10,000 mark
Miners' demise hits like a ton of coal
After three down days, Dow regains 137 points
SEC chairman doubts value of decimal system
Hue-chip stocks bow to profit taking
Increasingly, franchisees get a life
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