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To: craig crawford who wrote (84083)	11/12/1999 7:44:00 PM
From: Glenn D. Rudolph	Respond to of 164684

Nasdaq strikes 3,200 mark, extends winning streak By Kristin Roberts NEW YORK, Nov 12 (Reuters) - The Nasdaq surged passed 3,200 points on Friday, its tenth record close as Internets and online financial stocks stepped up to the plate on a day when chip makers lost some of their energy. Analysts still say the tech-driven market has room to rise, noting that economic data has helped quiet interest rate fears. "The upside is still positive," said Gary Campbell, chief investment officer at Commerce Bank in St Louis. "I think we'll continue to see more of the same with perhaps a slight slowdown." Nasdaq will continue to soar as long as value-investors jump ship and start to play catch-up in a technology sector that shows no sign of easing, traders said. The Nasdaq composite index <.IXIC> gained an unofficial 23.86 points, or 0.75 percent, to close at 3221.15. The market rose about 100 points during the week after starting at 3102 Monday morning. It first broke 3,000 two weeks ago. On the year, Nasdaq has gained close to 46 percent so far this year. The breadth of Friday's market was strong and advancing issues beat declines by 1,880 to 2,152. Volume was strong with 1.41 billion shares trading, again marking one of the Nasdaq's busiest sessions in history, and 186 stocks hit fresh highs compared with 77 at new lows. The Dow Jones industrial average ended up 173.71 points at 10769.01. Semiconductors dropped after leading the market through both the 3,000 and 3,100 point milestones. Chip giant and Dow component Intel Corp. <INTC.O> led the downward drive, falling 3-1/4 to 76-3/16 after a surprise downgrade from Merrill Lynch. The Philadelphia Stock Exchange's semiconductor index <.SOXX> lost 4.18 points, or 0.63 percent, to 656.10. Bucking the trend, the S&P semiconductor equipment index <.SPTKSM> gained 5.03 points, or 1.04 percent, to 490.77. KLA Tencor <KLAC.O> surged 3-5/8 to 96-3/4, a new high. But the online brokers and Internet companies pulled Nasdaq out of midday losses. E*Trade Group <EGRP.O> surged 5-13/16 to 36-3/4. Ameritrade Holdings <AMTD.O> ended up 2-13/16 at 22. An analyst at Hambrecht & Quist issued bullish comments about the Internet broker sector, noting that online trading volumes are hitting extraordinary levels fueled by the record-setting performance of the Nasdaq. The Dow Jones Internet index <.DJINET> rose 13.52 points, or 5.01 percent, to 283.30, a new year high. TheStreet.com's Internet index <.DOT> gained 24.93 points, or 3.04 percent, to 845.84. Wireless communications company Qualcomm Inc. <QCOM.O> extended gains, ending up 32-1/2 at 378, a new all-time record. Also active, Dow component Microsoft Corp. <MSFT.O> ended lower, falling 7/16 to 89-3/16. REUTERS Rtr 18:33 11-12-99