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Transportation equipment industry

Wall Street Indices Rally Amid Semiconductor Shares and Mixed Employment News

Strategic Insights

— 1 min read

The major Wall Street indices showed strength at the midday session on Thursday, January 3, 2002, driven by a late-morning rally in semiconductor shares. Despite discouraging unemployment news, the Dow Jones industrial average increased by 64.00 points, or 0.64 percent, to 10,137.40, while the tech-heavy Nasdaq composite index climbed 47.94 points, or 2.42 percent, to 2,027.19. The S&P 500, tracking the leading U.S. large-cap companies, rose 3.72 points, or 0.32 percent, to 1,158.39.

Key Takeaways:

  • The Dow Jones industrial average increased by 64.00 points, or 0.64 percent, to 10,137.40, driven by semiconductor shares.
  • The Nasdaq composite index rose 47.94 points, or 2.42 percent, to 2,027.19, with Intel Corp. and other chip stocks leading the rally.
  • Employment news was mixed, with initial claims for unemployment benefits rising to 447,000 from 411,000 the previous week.
  • Ford Motor Co. reported a 6 percent decrease in total year sales to just under 4 million, compared to 4.2 million in 2000.
  • Walgreen Co. reported a 17.4 percent increase in first-quarter earnings due to competitive pricing tactics.

Statistics:

  • Dow Jones industrial average: 10,137.40 (up 64.00 points, or 0.64 percent)
  • Nasdaq composite index: 2,027.19 (up 47.94 points, or 2.42 percent)
  • S&P 500: 1,158.39 (up 3.72 points, or 0.32 percent)
  • Initial unemployment claims: 447,000 (up from 411,000 the previous week)
  • Ford Motor Co. sales: 281,158 vehicles in December, a 6 percent decrease from the same month last year

Sources:

  • http://www.efe.es
  • Copyright (c) 2002. Agencia EFE S.A. News Provided by COMTEX (http://www.comtexnews.com)

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