Tech Leads Stocks Higher

  • September 1, 1999
  • Marc Dupee

Blue Chips are turning around a four-day losing streak and chasing a rally that started yesterday in tech stocks. Dave Landry pointed out in last night’s HREF=”/.site/stocks/commentary/dlstoutlook/”>Stock Market Trading Outlook that all of the sectors on the Strongest Sectors List represented tech stocks and that “we could get follow-through buying.”

Intel is the NASDAQ’s most active stock after introducing a new chip that speeds data flow along the Internet.

IBM is continuing to rally on the heels of yesterday’s announced alliance with Cisco.

Qualcomm is getting punished for not beating earnings forecasts (-18).

Here are the highlights around 1:00 PM ET:













































Major Indexes


  • Dow: +100 to 10,924
  • NASDAQ: +27 to 2767
  • S&P 500: +10.06 to 1330.34

NASDAQ Blue Chips


  • Cisco [CSCO>CSCO]: +5/8 to 68 7/16
  • Dell [DELL>DELL]: -1 to 47 13/16
  • Intel [INTC>INTC]: +2 49/16 to 84 61/64
  • Microsoft [MSFT>MSFT]: +5/8 to 93 3/16
  • MCI Worldcom [WCOM>WCOM]: +15/16 to 76 11/16

Biggest Dow Movers UP


  • International Paper [IP>IP]: +2 5/16 to 49 3/8
  • United Technologies [UTX>UTX]: +1 3/4 to 67 7/8

Biggest Dow Movers DOWN


  • McDonalds [MCD>MCD]: -1 to 40 5/8

Brand-Name Internet Stocks


  • America Online [AOL>AOL]: -11/16 to 90 9/16
  • Amazon [AMZN>AMZN]: -3 3/16 to 121 3/16
  • CMGI [CMGI>CMGI]: -2 to 81 15/16
  • eBay [EBAY>EBAY]: -3 7/8 to 121 11/16
  • Priceline [PCLN>PCLN]: -1 1/2 to 66 5/8
  • Yahoo [YHOO>YHOO]: -2 7/8 to 144 5/8

Strongest Sectors


  • Forest and paper products [$FPP.X>$FPP.X]: +4.9%
  • Semiconductors [$SOX.X>$SOX.X]: +2.50%

Weakest Sectors


  • Gold and silver index [$XAU.X>$XAU.X]: -1.41%
  • Inter@ctive week Internet index [$IIX.X>$IIX.X]: -.80%

Biggest Gainers from the Proprietary Momentum List


  • Legato Systems [LGTO>LGTO]: +1 11/16 to 44 3/4

Biggest gainers from New 60-Day Highs on Dbl. Volume List


  • Zoll Medical [ZOLL>ZOLL]: +1 to 26 1/8

Biggest Gainers from the Internet Fab-5 List


  • Security Dynamics [SDTI>SDTI]: +1 1/2 to 25 1/8

Biggest Gainers from Mark Boucher’s Trading Watch List


  • Brillance China Automotive [CBA>CBA]: + 1 7/16 to 16 7/16
  • Dendrite International [DRTE>DRTE]: +2 5/8 to 44 1/4
  • Profit Recovery [PRGX>PRGX]: +1 3/16 to 39 1/4