Dow Jumps 100 in Early Trading
NEW YORK (AP) _ The Dow Jones Industrial Average is up more than 100 points in today’s early going. Advancing issues on the New York Stock Exchange hold a 5-3 lead over decliners.
The Nasdaq Composite Index is ahead 55 points and the Standard & Poor’s 500 Stock Index is up 12 points.
Stocks are getting a boost despite another high-profile profit warning in the high-tech sector.
Compaq said weak sales would leave its fourth-quarter revenues and earnings below forecasts.
But analysts say many investors are encouraged, at least over the short term, about last night’s Supreme Court ruling virtually assuring George W. Bush of the White House.
At the same time, some weak figures on retail sales have served to further encourage traders that the Fed will move toward a more accommodating stance on monetary policy next week.