
Dow Finds Its Way to Positive Ground
The
Dow Jones Industrial Average
inched into positive territory thanks to gains in financial-services titans
American Express
(AXP) - Get Report
and
J.P. Morgan
(JPM) - Get Report
.
The Dow was up 6 to 9903. American Express was up 3 5/8 to 127 1/8, while J.P. Morgan was up 3 3/4 to 122 15/16.
Dow component
Caterpillar
(CAT) - Get Report
tumbled on a profit warning and was off 5 3/16, or 10%, to 45 11/16.
Technology stocks continued to suffer the most today. The
Nasdaq Composite Index
was down 32 to 2380. Tech stocks were weaker in large part because of
Oracle
(ORCL) - Get Report
, which tumbled 7 15/16, or 22%, to 28 15/16 on disappointment over the company's revenue growth.
Yesterday,
TheStreet.com
wrote about the company's earnings report. Oracle was also most active on the
Nasdaq Stock Market
on volume of 86 million.
Dick Stein, chief technical analyst at
Noble Financial Group
said the market is highly suspect right now, given the fact that the Dow has gained about 700 points since March 2.
The
S&P 500
was down 3 to 1295. The small-cap
Russell 2000
was down 3 to 398.
TheStreet.com Internet Sector
index was down 10 to 574.
TheStreet.com E-Commerce Index
was down 2 to 107.
The 30-year bond was up 12/32, to 95 25/32, yielding 5.54%.
On the
New York Stock Exchange
, decliners were beating advancers 1,589 to 1,278 on 637 million shares. On the
Nasdaq Stock Market
, losers were beating winners 2,253 to 1,503 on 706 million shares.
On the NYSE, 69 issues had set new 52-week lows while 53 had touched new highs. On the Nasdaq, 68 issues had set new lows while new highs totaled 45.
On the Big Board,
Rite Aid
(RAD) - Get Report
was most active, with 86 million shares changing hands. It was down 8, or 37%, to 28 13/16.









