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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (8660)9/18/1999 11:53:00 PM
From: Wally Mastroly  Read Replies (1) of 15132
 
While indexes soar, most stocks languish:

NEW YORK - If your favorite stocks lagged this past month while the Dow Jones industrials and the Nasdaq composite index soared to new records, you're not alone. For several months, a relative handful of stocks have driven market indexes higher while the vast majority of issues turned in middling-to-poor performances. The Dow offers perhaps the clearest illustration of the market's lack of consistency. The blue-chip index is up 17.7% so far this year, slightly ahead of its 16.1% gain in 1998. But the performances are widely divergent among its components. Hewlett-Packard is up 47.6% for the year, while Sears has plunged 20.6%. The S&P 500 index has been similarly unbalanced. Analysts say the market's bad breadth developed as a few prized stocks - mostly technology companies - continued their runaway growth while fears of rising interest rates and inflation began depressing the broader market.


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