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7/28/2003
05:07 PM
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TECH STOCKS: Investing Without Conviction

There was more faith in technology than in other sectors Monday, but that's faint praise.

There was more faith in technology than in other sectors Monday, but that's faint praise. Although the Nasdaq and the Dow matched each other almost step for step, the Nasdaq bobbed above the water line all day. The Dow drank water, and everyone experienced low trading volume. One theory is that investors are waiting out government economic reports due at the end of this week.

Our InformationWeek 100 led the pack, rising seven-tenths of a percent, or 1.7 points, to 256.89. The Nasdaq rose three-tenths of a percent, or 4.64 points, to end the day at 1,735.34. Sinking were the S&P 500--down 0.22%, or 2.16 points, to 996.52--and the Dow--down 0.19%, or 18.06 points, to 9,266.51.

The Nasdaq-100 tracking stock, which some consider a decent view of how individual tech shares are doing, rose 0.3%, or 10 cents, to $31.90.

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