MARKET SNAPSHOT
------------------------------------------------------------
Stocks moved solidly higher, with the Nasdaq Composite making an aggressive move
into record territory for the fourth consecutive session.
The Nasdaq Composite, with its definitive close above 3000 for the first time
ever, sent the technology-driven market a clear sign of its leadership. The
index rose 46.21 points to 3027.84.
That barometer eclipsed moves higher by the other major indexes. The Dow Jones
Industrial Average closed up 27.22 points to 10609.06, and the S&P 500 added
7.09 to 1354.83.
The advance-decline line was positive, with 1,675 advancers and 1,385 decliners.
Up volume outpaced down volume, with 484.1 million shares against 388.5 million
shares traded on heavy volume.
"It's a foregone conclusion that the. . .traded techs are driving the Nasdaq
index, and implications are clear that we've reached a new milestone from which
we will not turn back," says Arthur Hogan, chief market strategist at Jefferies
& Co. in Boston. "It is a breath of fresh air that the market more clearly
reflects the new high-tech economy."
* Full Analysis:
cnbc.com
------------------------------------------------------------
CNBC.COM STORIES
------------------------------------------------------------
NASDAQ: CROSSING THE 3000 BARRIER
The Nasdaq Composite finished above the 3000-point level today, the latest in a
series of milestones for the tech stock index. Find out what other milestones
the Nasdaq recently hit, and which companies are its leaders.
cnbc.com
FABER: AHP, WARNER-LAMBERT EXPECTED TO MERGE
If all goes according to plan, the boards of American Home Products and
Warner-Lambert will soon sign off on a deal to merge the drug and
consumer-products companies. CNBC's David Faber has the report.
cnbc.com
STEVE HARMON: FREEBIES PUT ISPs OUT OF FAVOR
In this edition of his bi-weekly Q&A, Internet analyst Steve Harmon digs into
his e-mail bag to take your questions on OneMain.com, Knight Trimark, Novell and
more. Check out this Money Talk exclusive!
cnbc.com
QUALCOMM BUILDS ON WIRELESS MOMENTUM
Red-hot wireless company Qualcomm said several times that it would beat
analysts' estimates for its fourth quarter and fiscal year. So, when Qualcomm
announced earnings after Tuesday's closing bell, not surprisingly it beat Street
estimates - again.
cnbc.com
IS IT STILL TIME TO BUY A HOUSE?
Over the past year, interest rates have risen dramatically. Mortgage rates have
escalated by more than a percentage point from last year's low levels. This has
caused many would-be homebuyers to second guess whether they should move forward
with a purchase of a new home.
cnbc.com
------------------------------------------------------------
MAJOR INDICES FOR WEDNESDAY
------------------------------------------------------------
Dow Jones Industrial Average: 10609.06, up 27.20 or 0.26%
Dow Transports: 2976.500, up 8.42 or 0.28%
Dow Utilities: 306.640, down 0.03 or 0.01%
S&P 500: 1354.830, up 7.09 or 0.53%
Nasdaq Composite Index: 3028.510, up 46.88 or 1.57%
Russell 2000: 438.440, up 6.05 or 1.40%
30-Year Bond Yield: 6.131, down 0.01 or 0.16%
* Complete U.S. Index Listing
host.cnbc.com
------------------------------------------------------------
THURSDAY ON CNBC
------------------------------------------------------------
Squawk Box: We pick
* Guest Host Joe Battipaglia, Gruntal Chief Investment Officer
* William Rouhana, WinStar Communications Chairman & CEO @ 9:10am ET
Power Lunch:
* Andrew May, Paradyne Networks CEO @ 1:10pm ET
Street Signs:
* Mark Cuban, Yahoo! Vice President @ 3:35pm ET
* Click here for a complete CNBC Guest List:
cnbc.com
|
