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Investors Focus On Long Weekend, Not Trading

May 28, 2004 (01:05 PM EDT)

Read the Original Article at http://www.informationweek.com/news/showArticle.jhtml?articleID=21400403


The markets were listless on Friday, as traders appeared more than ready for the long Memorial Day weekend, with the major indexes showing little movement.

The Dow Jones industrial average fell 16.75 points, or 0.2%, at 10,188.45. The Standard & Poor's 500 index fell 0.65 of a point, or 0.1%, to 1,120.63. The Nasdaq Composite Index rose 2.24 points, or 0.1%, to 1,986.74. For the week, the Dow rose 2.2%, the S&P 500 rose 2.5%, and the Nasdaq rose 3.9%.

The InformationWeek 100 rose 0.77 points, or 0.2%, to 319.16, capping a week in which it rose 4.4%. The Nasdaq-100 tracking stock rose 13 cents to $36.55, as more than 111.5 million shares changed hands.

In economic news, consumer sentiment fell unexpectedly in May, the University of Michigan said. The university's consumer-sentiment index dropped to a final reading of 90.2 for May, from 94.2 at the end of April, and in again in mid-May. Economists had expected the index to rise from those levels. Consumers expect a higher inflation rate to hurt their financial situation, according to the survey.

Separately, the Purchasing Management Association of Chicago reported a sharp increase in manufacturing activity in the area in May. The report could indicate the results of a national manufacturing-sector reading scheduled for release Tuesday by the Institute of Supply Chain Management.

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.