Traders remain skittish about the strength of the nation's economic recovery. The Commerce Department reported Thursday that factory orders fell 0.8% in August, a surprise to economists who had been predicting a smaller decline of 0.5%. And the number of people filing new unemployment claims last week increased to 399,000--up from 386,000 the previous week.
Oracle's stock was down 29 cents, or 2.5%, to $11.40 following published reports that the Justice Department is preparing an antitrust challenge to the vendor's proposed $7.3 billion takeover bid of PeopleSoft. But Advanced Micro Devices' share price rose 52 cents, or 4.7%, to $11.69 after J.P. Morgan upgraded its stock. The Nasdaq-100 tracking stock closed at $33.20, up 5 cents or 0.2%. The tracking stock's trading volume was moderate, with just under 82 million shares changing hands.
Our InformationWeek 100 rose 1.14 points or 0.4% to close at 278.78, while the Nasdaq index rose 3.94 or 0.2% to finish the day at 1,836.19. The Dow rose 18.60 points, or 0.2%, to close at 9,487.80, while the S&P 500 rose 2.02 or 0.2%, to finish the day at 1,020.24.