November 22nd 1999
The never-ending rally on the Nasdaq forged ahead again today, but the winner's circle narrowed as the NYSE advance-decline line showed only one stock advancing for every two losers. The Dow advanced 85.63 (0.78%) to close at 11089.5. Volume was heavier than expected for the Monday of Thanksgiving week at 854 millions shares traded. Oil price soared $1.00 a barrel to $27 after Iraq announced that it was going halt oil exports. Oil related stocks generally gained on this news. Coca Cola was up over 8.0% as investors anticipate strong sales overseas due to the booming global economy. The Dow is now 240 points from its all time high of 11326.04 set on August 25th of this year. The Nasdaq continued its winning streak, up 23.28, (0.69%) to close at 3392.53 on heavy volume of 1.4 billion shares traded. Today was the 14th record closing high for the Nasdaq in 17 sessions. Internet stocks were strong while semiconductors gave back some recent gains. The online brokers weakened as the SEC plans stiffer regulations for online trading. The S&P 500 lost 1.06 points (0.07%) to close at 1420.9. The 30-year US Treasury bond was down 13/32 to close at 99 2/32, while the yield rose to 6.19% from 6.16% on Friday. Apple shares slid 1 13/16 (1.96%) to close at 90 5/8 on only 1,755,000 shares traded. Apple averages 5.8 million shares traded daily, although recently the volume has been consistently low. In Apple related stocks today, Macromedia soared 4 1/4 to close at 66 7/8. Symantec had a great day, up 1 1/2 to close at 47 3/8. While Adobe rose fractional to 76 1/16. Akamai closed down to 184 7/8. Arm Holdings managed a gain of 1 1/8 to 121. Apple's Power PC partners went in different directions today. Motorola lost 4 5/8 to close at 120 3/4, while IBM gained 3 15/16 to close at 107 7/8 after gaining 6 1/2 points on friday. In other PC stocks today. Microsoft closed up 3 13/16 to end at 89 13/16 on hopes that a settlement with the DOJ can be reached through mediation. Dell, Gateway and Hewlett Packard all gained fractionally, only Compaq closed off 5/16 to end at 25 15/16 after their recent run-up from the teens. For full quotes on all the companies mentioned in this article, we have assembled this set of quotes at Yahoo! for your reference. We also have many of these same quotes reported live (20 minute delay) on our home page. For other stories regarding Apple's stock activity, visit our Apple Stock Watch Special Report.
[4:00 PM] Apple Stock Watch: Markets Continue Rally, Apple Slides
by Wes George