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Stocks rise, with Dow again flirting with nine-thousand
New York-AP -- Stock prices are reaching higher, with the market's most familiar index cresting the nine-thousand level for the second time this week. The Dow Jones industrial average is up 69 points. Gainers on the New York Stock Exchange hold a three-to-one lead over losers.
The Nasdaq Composite Index has gained 16 points.
And the Standard-and Poor's 500 Stock Index is up eight points.
Trading on the New York Stock Exchange during the first two hours totaled 585 (M) million shares. Volume on the Nasdaq Market came to more than one (b) billion shares.
Today's gains come after the Dow yesterday closed at a six-month high and the Nasdaq finished at a 12-month high. Earlier this week, the Dow traded briefly above the nine-thousand level, though it hasn't closed above that mark since last August.
There is some positive economic news behind today's advance. A private survey shows the services sector of the economy last month had its best month since January. And worker productivity increased during the first quarter at a faster rate than first reported.
Shares of DaimlerChrysler are lower after the company warned that its Chrysler division will likely post an operating loss for the second quarter.
Copyright 2003 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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