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Stocks finish mixed for the day -- up on the week
New York-AP -- Stocks turned in a mixed showing in very volatile trading today, with the major indexes giving up most or all of their early gains in a wave of profit-taking. The Dow Industrials, which had been up 170 points, finished with a gain of 21 and a-half points at nine-thousand-62.
For the week, the Blue Chip Index was ahead 212 points. Advancers and losers on the Big Board were nearly even as around one-point-eight (b) billion shares were traded.
The Nasdaq Composite Index, which had been up more than two percent, closed with a loss of 18 and a-half points, or more than one percent, at 16-hundred-27 on volume of better than two-point-seven (b) billion shares. The tech-heavy Nasdaq was up 31 and a-half points on the week.
The S-and-P 500, which crossed the one-thousand mark for the first time in almost a year, dropped more than two points to end at 987 -- but still up 24 for the week,
Stocks headed sharply higher at the opening bell on a better-than expected employment report for May and a reaffirmation by Intel of its second quarter outlook.
Later in the session, however, investors concerned that the market may be rising too high too fast, cashed in on gains from the two and a-half month runup.
Copyright 2003 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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