Board-Ansicht
Mix-Ansicht- Close Dow -21.66 at 10876.68, Nasdaq +52.36 at 2220.60, S&P +0.99 at 1267.43: - Der letzte Grund, 03.05.2001, 08:53
- AFTER THE CLOSE 02-May-01 - Der letzte Grund, 03.05.2001, 08:56
Close Dow -21.66 at 10876.68, Nasdaq +52.36 at 2220.60, S&P +0.99 at 1267.43:
The markets closed mixed with the Dow slightly lower on the day while the Nasdaq closed at its highest level since late February. Technology buy interest was driven by a Morgan Stanley report regarding Cisco Systems' (CSCO +12.3%) North American enterprise networking market. The firm believes that demand in this segment is showing signs of stabilization which was a driver of broad based positive sentiment across technology. Prior guidance from CSCO had been the market trough won't be for at least another three quarters. Stay tuned to see whether Morgan Stanley or CSCO is correct. Separately, communications chip maker Brocade Communications (BRCD +16.2%) announced it will meet or beat previously reduced second quarter estimates. This news contributed to buy interest in the communications semiconductor sector and helped the SOX higher by 0.6% for the day... The markets also received some positive news on the energy front. Stronger than anticipated gasoline and crude oil inventories were reported this morning which alleviated concerns over higher fuel prices during the peak Summer season. The spot price of crude dropped by nearly 4% on the day, taking the per barrel price down to $27.80. This news wasn't positive for oil-related equities however, as the XOI got hammered for a 4.1% daily loss. Separately, an afternoon report on natural gas reserves also showed higher supplies than expected. The price of natural gas fell 3.4% on this news. Falling prices for oil, gasoline and natural gas are bullish signals for business as they reduce the cost of doing business by reducing the"engergy tax".... Today's activity leaves both the Dow and the Nasdaq near key inflection points. For the Nasdaq the level to watch is 2255. This approximates the January low (2251) which at that time served as support and it also approximates a couple key retracements off downtrends from February and November highs. For the Dow, 11,000 is the level to watch as this has served as a ceiling since September of 2000. Friday's employment report is likely to influence whether these levels hold or break. For a complete list of what to expect from that report and other economic reports please visit Briefing.com's Economic Calendar. DJTA +1.9%... DJUA -2.2%... SOX +0.6%... BTK -1.3%... Nasdaq 100 +2.3%... S&P Midcap 400 -0.4%... Russell 2000 +0.2%... NYSE Adv/Dec 1553/1515... Nasdaq Adv/Dec 2387/1466.
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