Aug 27, 2004 (01:08 PM EDT)
Markets Cap Winning Week With More Gains
Read the Original Article at InformationWeek
All the major stock indexes were up Friday as investors continue to react favorably to a drop in oil prices and better-than-expected economic index reports.
The Dow industrials rose 21.60 points, or 0.2%, to 10,195.01. The Nasdaq rose 9.17 points, or 0.5%, to 1,862.09. The S&P 500 rose 2.68 points, or 0.2%, to 1,107.77. The InformationWeek 100 rose 1.61 points, or 0.6%, to 283.39. For the week, the InformationWeek 100 was up 1%, the Dow gained 0.8%, the S&P rose 0.9%, and the Nasdaq rose 1.3%.
Oil actually rose 8 cents to close at $43.18 on the New York Mercantile Exchange. But that's still down sharply from the $49-per-barrel prices earlier this month.
Traders were encouraged by the University of Michigan consumer sentiment index for August that was released Friday morning. The index fell to 95.9 from 96.7 in July, but was higher than economists had expected. The revised estimated to the gross domestic product came in as forecasted at a 2.8% annual rate. Investors had feared the rate would come in lower.
Still, with the Republican National Convention in New York next week and August still a traditionally slow month for trading, volume on the major markets remained extremely low. For example, the Nasdaq-100 tracking stock rose 16 cents to $34.56 on volume of 58.56 million shares--nearly 40 million less than a normal day.
See the full listing of all the companies in the InformationWeek 100 and the top 5 percentage winners and losers for the last closing here.