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Non-Tech : The Critical Investing Workshop -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (7580)	3/15/2000 2:02:00 PM
From: stockman_scott	Read Replies (2) \| Respond to of 35685

Now tell me....Who's shopping for DOW stocks today <G>..?? biz.yahoo.com <<Wednesday March 15, 1:30 pm Eastern Time U.S. stocks split, Dow flying as Nasdaq drops By Jennifer Westhoven NEW YORK, March 15 (Reuters) - U.S. stocks diverged sharply in early afternoon trading on Wednesday with technology stocks hammered amid a three-day clobbering while blue-chip stocks rallied. The technology-heavy Nasdaq Composite Index (^IXIC - news) was down for its third straight session, off 71 points or 1.53 percent at 4,634, after falling as low as 4,568. At its session low of 4568.67, the technology-packed Nasdaqwas down 9.5 percent from its closing high of 5,048.62 struck on Friday, nearly meeting the 10 percent decline that meets the definition of a correction on Wall Street. The index has fallen 10.9 percent from its intraday trading high of 5,132.52. ``They're taking down all the ones that ran up so fast. This is a good, solid correction. It's taking out a lot of money,' said Paul Cox, manager of the Commerce Mid-Cap Fund at Commerce Bank in St. Louis, Mo. ``To say a correction was overdue is an understatement.' Analysts said that as money came out of high-technology sectors such as Internet, telecommunications and semiconductor stocks, blue-chip stocks and bonds were reaping the benefits. The Dow Jones industrial average (^DJI - news) was up 203 points at 10,014, rising over 2 percent. The broader Standard & Poor's 500 Index (^SPX - news) was up 22 points or 1.68 percent at 1,382. Lower oil prices sparked a rally in shares of transportation and chemical companies, which have to spend relatively more on oil than other industries. Oil futures fell more than $1 in New York trade after Saudi Arabia, the world's largest oil exporter, said late Tuesday it favored a large increase in supplies beginning April 1. Shares of DuPont Co. (NYSE:DD - news), the No. 1 U.S. chemical company and a member of the Dow, rose 3-5/16 to 51-1/8. The Standard & Poor's 500 index of chemical companies (^SPCHEM - news) rose 6.63 percent, with Eastman Chemical Co. (NYSE:EMN - news) up 3-1/2 at 38-7/8 and Dow Chemical Co. (NYSE:DOW - news) up 4-11/16 at 101-15/16. The Dow Jones transportation average (^DJT - news) rose 101 points or 4.28 percent to 2,483. Among its biggest gainers were American Airlines parent AMR Corp. (NYSE:AMR - news), up 2-3/16 at 60 and UAL Corp. (NYSE:UAL - news), the parent of United Airlines, up 3-3/4 at 50-5/8. Financial sectors like insurance companies and investment banks fared well, as did some beaten-down sectors such as health care, pharmaceuticals and insurance. The high-tech losses came despite a strong early showing in database software company Oracle Corp. (NasdaqNM:ORCL - news) after it posted strong quarterly earnings per share, of 17 cents a share, compared with Wall Street forecasts of 13 cents a share and 10 cents a share in the year-ago period. Oracle shares were up 3-1/2 at 80-1/2. The stock had earlier jumped as high as 85 but settled back. Internet stocks were lower. Internet media company Yahoo Inc. (NasdaqNM:YHOO - news) fell 6-1/2 to 162-1/4 in heavy trading after a report it was in talks with Internet auctioneer eBay Inc (NasdaqNM:EBAY - news) about a possible merger. eBay shares were down 12-1/2 at 198-1/2. Akamai Technologies Inc. (NasdaqNM:AKAM - news) shares fell 24-7/16 at 245-5/16. Biotechnology stocks rebounded from heavy losses on Tuesday that had contributed to a slide that pulled the Nasdaq off by its second-largest point loss ever. Amgen Inc. (NasdaqNM:AMGN - news) shares jumped 5-15/16 to 58-3/16 after one analyst said the company's battered stock price was an invitation for buying. The benchmark 30-year U.S. Treasury bond was up 8/32, driving the yield down to 6.07 percent.>> ----------------------------------------------------------- I'm actually getting ready to add some more shares of my favorite 'New Economy Stocks'....Wake me up when this correction is over ;-) Best Regards, Scott