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Stocks move higher once again
Thursday,June5,2003,4:45 PM
New York-AP -- Wall Street managed to extend its rally by the close of a choppy session that followed disappointing economic data. Initial jobless claims surged unexpectedly last week and factory orders fell in April by a more than anticipated amount. Investors were also worried about lackluster May sales at some of the nation's biggest retailers.
And, analysts say there were jitters ahead of the May unemployment report due tomorrow.
But in the end, the Dow Jones industrial average managed a humble two-point gain, with the blue chip index settling at nine-thousand-41. That follows a 116-point advance the day before.
Market breadth was positive by a five-to-three margin, as about one-point-seven (b) billion shares changed hands on the New York Stock Exchange.
The Nasdaq composite gained eleven points to 16-hundred-46. The Nasdaq is trading at levels not seen since May 2002.
The Standard and Poor's 500 index was up almost four points to 990.
Copyright 2003 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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