Monday's Tech Stocks: Good News But Mixed Results - InformationWeek
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4/19/2004
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Monday's Tech Stocks: Good News But Mixed Results

Technology issues outperformed the rest of the market, but fears of a Fed rate hike kept investors wary.

Stocks ended mixed Monday despite solid earnings reports and continued signs of an economy on the rebound.

The most recent index of leading economic indicators, published by the Conference Board, showed a 0.3% rise in March--in line with expectations. However, many investors fear that the Federal Reserve is on the brink of raising interest rates.

"We'll continue to get good earnings, and economic data shows that we've got some good economic activity going on here. But until we get the interest-rate question settled, we're going to continue to see a lot of caution," Scott Wren, an equity strategist for A.G. Edwards & Sons, told The Associated Press.

Technology stocks fared better than other sectors. Our InformationWeek 100 index rose 3.54 points, or 1.1%, to close at 332.22. The Nasdaq performed slightly better, rising 24.69 points, or 1.2%, to end at 2,020.43. The Dow was Monday's biggest loser, falling 0.1%, or 14.12 points, to 10,437.85. The S&P 500 remained essentially flat as well, up 1.21 points, or 0.1%, to 1,135.82.

The Nasdaq-100 tracking stock closed up 44 cents, or 1.2%, to end at $36.53 on lower-than-average volume of 84.64 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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