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6/30/2004
06:02 PM
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Mostly Modest Index Gains After Rate Hike

In case you've been living in a spider hole for the last several weeks, you expected the Fed to increase short-term interest rates a quarter-percent. Well, so did the markets.

There. That didn't hurt so much, did it? The Fed boosted the benchmark federal funds rate by a quarter of a percentage point after more foreshadowing than an Orson Welles movie, and indexes actually closed up.

Our InformationWeek 100 was way up, in fact. It rose 1.4%, or 4.34 points, to 325.88. Next was the Nasdaq, which rose 0.6%, or 12.86 points, to 2,047.79. The S&P 500 rose 0.4%, or 4.64 points, to rest at 1,140.84, and the Dow rose 0.2%, or 22.05 points, to 10,435.48.

The Nasdaq-100 tracking stock rose a percent, or 37 cents, to $37.74 on volume of 98 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.

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