Another Winning WeekAnother Winning Week
Despite a mixed day Friday, signs of an improving economy left the markets higher for the week.
Various signals of an improving economy pushed all of the indexes up this week, and the information 100 lead the pack with a 4.48% weekly gain. The index closed up 1.3% for the day to 255.38
The Nasdaq lost some traction Friday, closing down 18.59 points, or 1.1%, to 1,627.42. For the week, however, it was up 1.9%. PeopleSoft was the big winner Friday on the Nasdaq, with its stock closing up 17.9% to $17.82 following a $5.1 billion takeover bid from Oracle. The Nasdaq-100 index lost 56 cents, or 1.8%, for the day to close at $30.08. Still, it was up 1.2% for the week and ended just 60 cents short of its 52-week high.
Blue-chip investors wavered Friday. The Dow Jones rose 21.49, or 0.2%, to 9,062.79, and was up 2.4% for the week. The S&P 500 lost 2.38, or 0.2%, to 987.76, but was up 2.5% for the week.
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