Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Portfolio > Economy & Markets > Stocks

Market Commentary -- 2 p.m.

Your article was successfully shared with the contacts you provided.

June 16, 2003 — The stock market’s three-month rally picked up steam with help from strong NAHB housing data, strong Empire State manufacturing index, and investors’ short-covering before Friday’s Triple Witching. Futures-related buy programs and buy-stops have been major factors in the DJIA cracking 9200, and the S&P breaking 1000 levels. But trading remains relatively slow.

Treasury futures are falling, the dollar is firmer. Economic data raises some questions about what the FOMC plans to do at its June 25 meeting. Short- term technicals are neutral. NYSE breadth is 22-9 positive, NASDAQ breadth is 18-12 positive. Biotechs, financials and drug stocks are up. Oil and gold futures are up.

Market Action

S&P 5001005.52 + 16.91

NASDAQ Composite1,657.55 + 31.06

Dow Jones Industrial Average9,265.18 + 148.06

10-Year Treasury Yield3.16% (previous close, 3.11%)



© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.