Business & Finance
News
7/27/2004
05:36 PM
Connect Directly
RSS
E-Mail
50%
50%

Investors Find A Reason To Buy

A better-than-expected consumer-confidence index as well as a good earnings report from Verizon seemed to soothe recent investor terrorism jitters.

After a spell of tumultuous and downbeat trading days, the three big indexes closed up Tuesday.

A better-than-expected consumer-confidence index as well as a good earnings report from Verizon seemed to soothe recent investor terrorism jitters.

Telecom company Verizon reported a second-quarter profit of $1.8 billion on revenue of $17.8 billion--that's up 6% from the same period a year ago, when the company reported $16.8 billion in revenue.

Private research group the Conference Board reported Tuesday that its consumer-confidence index in the economy rose to 106.1 this month. That's up from 102.8 in June and is the highest it's been in more than two years.

"I think the numbers we've seen recently show that the upturn in employment is substantial and sustainable," Gary R. Thayer, chief economist at A.G. Edwards & Sons Inc., told the Associated Press.

The Dow rose 123.22 points, or 1.2%, to close at 10,085.14. The S&P 500 rose 1%, or 1.76 points, to 1,094.83. The Nasdaq Composite Index rose 1.6%, or 30.08 points, to 1,869.1; and our InformationWeek 100 rose 1.6%, or 4.3 points, to rest at 281.72.

The Nasdaq-100 tracking stock rose in moderate trading. It was up 1.4%, or 47 cents, at $34.53, on volume of 103 million shares.

See the full listing of all the companies in the InformationWeek 100 and the top 5 percentage winners and losers for the last closing at informationweek.com/stocks.

Comment  | 
Print  | 
More Insights
IT's Reputation: What the Data Says
IT's Reputation: What the Data Says
InformationWeek's IT Perception Survey seeks to quantify how IT thinks it's doing versus how the business really views IT's performance in delivering services - and, more important, powering innovation. Our results suggest IT leaders should worry less about whether they're getting enough resources and more about the relationships they have with business unit peers.
Register for InformationWeek Newsletters
White Papers
Current Issue
InformationWeek Government Tech Digest Oct. 27, 2014
To meet obligations -- and avoid accusations of cover-up and incompetence -- federal agencies must get serious about digitizing records.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
A roundup of the top stories and community news at InformationWeek.com.
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.