Oct 30, 2003 (12:10 PM EST)
Tech Stocks: GDP Jumps, But Stocks Lay Down
Read the Original Article at InformationWeek
Our indexes closed little changed Thursday despite some great economic news. The U.S. Department of Commerce announced that the gross domestic product grew 7.2% in the third quarter, more than double the rate in the second quarter and the fastest rate in 20 years. That news spurred an early burst of trading, but not much else.
Tech stocks were mixed. Microsoft fell 2.3%, or 62 cents, to $26.12; Motorola fell .9%, or 12 cents, to $13.75; Intel rose .3%, or 9 cents, to $32.89; and Oracle rose 2.5%, or 30 cents, to $12.19. The Nasdaq-100 tracking stock fell .2%, or 7 cents, to $35.59.
For the day, the Nasdaq index fell .2%, or 3.87 points, to 1,932.69; and the InformationWeek 100 rose .16%, or 48 cents, to 303.31. Less tech-heavy indexes also were mixed. The Dow rose .1%, or 12.08 points, to 9,786.61, and the S&P 500 fell .1%, or 1.17 points, to 1,046.94.