Three Key Players In Today’s Rally

The Nasdaq Composite Index
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positive bias in early trade. As the day progressed, so did the Nasdaq,
rallying to a 3.2% increase on the day the largest gain in three weeks. The
strong performance by Biotech
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and Networking
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gained + 40.10 to end at 1222.27.

The Standard & Poor’s 500
Index
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General Electric contributing to the positive move. The S&P 500 rose + 20.36 to
839.65

The Dow Jones Industrial Average
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$INDU |
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levels in almost four years. Today the Dow rose 2% to its best rally seen in
five weeks. The DJIA
closed at 7841.82 up + 158.69. Concerns over slowing earnings growth and a
possible war with Iraq sent the Dow down 15% in the past month. Yesterday, the
index closed at its lowest since October 1998, sliding past its previous low on
July 23.

Home sales unexpectedly fell in
August to the second-lowest level this year as consumer optimism declined and
the industry slowed from a record first half of the year.

U.S. Treasuries fell for the
first day in three as stocks rose. The yields on the Dec. U.S. bond
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TYZ2 |
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lowest levels in at least 30 years. The USZ2 dropped 1’14 to 113’02 and TYZ2
dropped 260 to 114 220.

Crude oil backed off from recent
gains today, with Iraq stating that weapons inspectors will be free to
inspect wherever they wish. In other energy news, U.S. oil and natural gas
production from the Gulf of Mexico has almost completely halted as companies
evacuate employees from platforms and drilling rigs, shutting wells ahead of the
approach of Tropical Storm Isidore. Nov. crude oil
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.15 but maintained its $30 a barrel price tag closing at $30.62.

Adv: 2190 UpVol: 126515900

Dec: 1190 DnVol: 19034044

Adv: 2309 UpVol: 129737420

Dec: 991 DnVol: 34405744