A "Day Of Clarity" On Wall Street - InformationWeek
IoT
IoT
Business & Finance
News
5/27/2004
05:13 PM
50%
50%
RELATED EVENTS
[Dark Reading Crash Course] Finding & Fixing Application Security Vulnerabilitie
Sep 14, 2017
Hear from a top applications security expert as he discusses key practices for scanning and securi ...Read More>>

A "Day Of Clarity" On Wall Street

Stocks rallied after the Commerce Department issued an upward revision of the first-quarter gross domestic product.

Good news on the economy and lower oil prices gave Wall Street a boost on Thursday.

The Commerce Department reported that the gross domestic product from January through March rose 4.4%, rather than the previously reported 4.2% annual rate. The Labor Department also reported that jobless claims fell slightly. In addition, the price for crude oil fell $1.26 a barrel on hopes that OPEC will increase its production next month.

That was good news for stocks. Our InformationWeek 100 rose 2.38, or 0.8%, to 318.39. The Nasdaq rose 8.35, or 0.4%, to close at 1,984.50. The Nasdaq-100 tracking stock rose 23 cents, or 0.6%, to close at $36.42.

Less tech-heavy indexes also had a good day. The Dow Jones industrials rose 95.31, or 0.9%, to 10,205.20. And the S&P 500 rose 6.34, or 0.6%, to 1,121.28.

John Lynch, chief market analyst at Evergreen Investments, told The Associated Press that Thursday was "a day of clarity" for investors. He said investors have finally begun to focus on the strong economic fundamentals such as consumer buying and business spending and that jitters over rising oil prices and interest rates are already factored into the market. Said Lynch, "The perception of bad stuff has been priced in."

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
How Enterprises Are Attacking the IT Security Enterprise
How Enterprises Are Attacking the IT Security Enterprise
To learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Register for InformationWeek Newsletters
White Papers
Current Issue
2017 State of IT Report
In today's technology-driven world, "innovation" has become a basic expectation. IT leaders are tasked with making technical magic, improving customer experience, and boosting the bottom line -- yet often without any increase to the IT budget. How are organizations striking the balance between new initiatives and cost control? Download our report to learn about the biggest challenges and how savvy IT executives are overcoming them.
Video
Slideshows
Twitter Feed
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.
Flash Poll