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Dow on a rampage
NEW YORK (CBS.MW) -- The Dow surged Thursday, posting its largest point gain ever in
midday dealings, as investors snapped up bank and retail stocks -- sectors that have been
long overlooked -- with a vengeance. The vigorous Dow buying spilled over into the
struggling tech sector and pushed the Nasdaq mildly higher. Inside the market, retail,
drug, bank and biotech shares remained the top performers. Outside of technology, only
gold stocks were in the minus column. Within the tech arena, computer software and
Internet shares pushed the Nasdaq higher.�� The battle between the averages is
the market's attempt to sift out the winners from the losers, according to Richard
Babson, chairman and president of Babson-United. The Dow Industrials surged 439
points, or 4.3 percent, to 10,570 at 12:28 p.m., led by American Express, Caterpillar,
International Paper and Citigroup
More news from CBS MarketWatch.com |
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Data as of 3/16/2000 1:31:00 PM�� |
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| Issues: |
NYSE |
AMEX |
Nasdaq |
Bulletin Board |
| Advancing | 2,215 | 334 | 1,777 | 724 |
| Declining | 775 | 305 | 2,285 | 1,041 |
| Unchanged | 435 | 149 | 697 | 540 |
| Total | 3,425 | 788 | 4,759 | 2,305 |
| Issues at: |
| 52 Week High | 175 | 77 | 524 | 470 |
| 52 Week Low | 248 | 62 | 335 | 123 |
| Volume: |
| Advancing | 922,595,370 | 51,588,449 | 512,343,081 | 227,416,120 |
| Declining | 200,404,630 | 17,144,726 | 754,354,140 | 511,230,251 |
| Unchanged | 17,723,790 | 2,969,385 | 26,814,284 | 21,424,900 |
| Total | 1,140,723,790 | 71,702,560 | 1,293,511,505 | 760,071,271 |
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