Mar 26, 2004 (12:03 PM EST)
TECH STOCKS: Closing Almost Where They Began
Read the Original Article at InformationWeek
Indexes mostly closed fractionally lower Friday, despite positive reports on consumer spending and sentiment, and one day after markets posted big gains.
At the close of trading, our InformationWeek 100 index had actually risen 0.08 of a point to close at 320.8, a gain of 0.02%. The index rose 1.84% for the week. The Dow Jones industrial average fell 5.85 points, or 0.06%, to end the day at 10,212.97. The Standard & Poor's 500 index fell 1.16 points, or 0.1%, to 1,108.03. The Nasdaq Composite index fell 7.15 points, or 0.4%, to 1,960.02. For the week, the Dow rose 0.3%, the Nasdaq rose about 1%, and the S&P 500 fell by 0.2%. Stocks had soared Thursday, with the Nasdaq posting its biggest percentage gain since July.
Investors had some positive economic news to digest Friday. The Commerce Department said the savings rate hit its highest level in six months as incomes rose twice as fast as consumer spending. Separately, the University of Michigan's consumer-sentiment index rose to 95.8 at the end of March, from 94.4 in February.
The Nasdaq-100 tracking stock fell 12 cents, or 0.4%, Friday to $35.22. For the week, the stock was up 1.7%.
See the full listing of all the companies in the InformationWeek 100 and the top 5 percentage winners and losers for the last closing at informationweek.com/stocks.