Business & Finance
05:47 PM
Core System Testing: How to Achieve Success
Oct 06, 2016
Property and Casualty Insurers have been investing in modernizing their core systems to provide fl ...Read More>>

TECH STOCKS: Sluggish Trading That Ends The Day Up

Yom Kippur saw listlessness among our indices, all of which posted modest gains on meager volumes.

Yom Kippur is characterized by a day of fasting, but it appears it's also an occasion to resist the temptations of Wall Street. The holiday was marked by a listlessness among our indices, all of which posted modest gains on meager volumes.

The tech sector faired well, thanks to two notable announcements: PeopleSoft Inc. said it's third-quarter earnings would be more robust than expected, and Motorola decided to spin off its chip unit to focus on its stronger communications-product business. That led to the software and communications sectors posting the strongest gains.

PeopleSoft was up 3.1%, rival Oracle rose 2.5%, and Siebel Systems also rose 2.5%. Nextel Communications rose 4.1%, Brocade Communications rose 6.9%, and Juniper Networks was up nearly 4%. The Nasdaq-100 tracking stock reflected the sector's strength, rising 16 cents, or 0.5%, to $34.35. Volume, however, was an anemic 45.3 million.

Our InformationWeek 100 index outperformed the other indices, rising 4.17 points, or 1.5%, to close at 292.43, while the similarly tech-heavy Nasdaq Composite rose 12.91 points, or 0.7%, to 1,893.48. The Dow rose 22.67 points, or 0.2%, to close at 9,594.98, and the S&P 500 rose 4.5 points, or 0.4%, to 1,034.35.

Comment  | 
Print  | 
More Insights
Newest First  |  Oldest First  |  Threaded View
Register for InformationWeek Newsletters
White Papers
Current Issue
Top IT Trends to Watch in Financial Services
IT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Twitter Feed
InformationWeek Radio
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.