Major Averages Manage Higher Close

September chip equipment sales help boost the Nasdaq.
Author:
Publish date:

Updated from 3:30 p.m. EDT

Blue-chips closed slightly higher Wednesday, and tech stocks climbed as strength in the semiconductor sector helped the

Nasdaq move higher.

The

Dow Jones Industrial Average tacked on 5.54 points to 9345.62. The Nasdaq rose 27.10 points, or 1.6%, to 1731.54, and the

S&P 500 was barely changed at 1085.20.

The semiconductor stocks benefited from the chip equipment book-to-bill ratio, which came in slightly higher in September than the previous month.

Intel

(INTC) - Get Report

gained 41 cents, or 1.6% to $25.41, while the Philadelphia Stock Exchange Semiconductor Index finished up 4%.

LSI Logic

(LSI) - Get Report

climbed $1.04, or 5.9%, to $18.65.

Amazon.com

(AMZN) - Get Report

said after the bell Tuesday that third-quarter sales were $639 million, somewhat short of analysts' forecasts. The company also trimmed its fourth-quarter sales outlook. Shares of the online retailer tumbled $1.91, or 20%, to $7.64.

Eastman Kodak

(EK)

said third-quarter earnings fell to $96 million, or 33 cents a share, and the company set plans to cut 4,000 jobs. Sales fell about 8% to $3.31 billion. The company's adjusted earnings of 52 cents a share in the latest quarter were in line with estimates. Kodak's shares fell $3.42, or 10%, to $30.75.

European markets were mostly higher, with particular strength in Germany's Xetra DAX, which was rose 2.3% to 4813. The FTSE 100 in London was 0.5% lower at 5168. In Asia, Japan's Nikkei closed down 0.6% at 10,802, while Hong Kong's Hang Seng added 0.2% to 10,243.

As many as 18 postal workers from the Washington area might be infected with inhalation anthrax, officials said. Meanwhile, a trade group said airline revenue fell by 45% in September because of the terrorist attacks.

The 10-year Treasury note was recently losing 6/32 to 103 7/32, yielding 4.59%.