Money January 5 2000 closing prices report
Closing prices quotes provided by Ron Campbell Investment Planning and Raymond James Financial Services. Contact (304) 325 7334 for details. Member NASD SIPC.
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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jan 06, 2000
Page
5
Closing prices quotes provided by Ron Campbell Investment Planning and Raymond James Financial Services. Contact (304) 325 7334 for details. Member NASD SIPC.
New York AP reports local and long distance phone firms now selling both services in bundles. After decades of AT&T and regional monopolies, real competition emerges for local service, with broader rollout planned nationwide in coming months and years. Microsoft shifts consumer computing strategy toward integrated electronics and Internet services.
The Dow Jones gained sharply while the Nasdaq composite clawed back from a steep decline to end modestly lower at 3877.84 after a volatile session. Late gains came as investors rotated into cyclical stocks amid rising bond yields and rate fears. IBM led Dow gains, with Bank of America noting a strong buy for IBM, though some analysts cautioned the rebound may be a technical bounce.
In 1999 technology drove U.S. stock gains while many sectors fell behind. Internet stocks surged 176 percent and helped Nasdaq rise 86 percent, with electronics up 113 percent. Analysts warn the narrow tech rally may mask systemic risk if sentiment shifts and bubbles burst.
New York AP reports rising rates push adjustable rate mortgages ARMs to 30 percent of the market from 25 and 8 percent previously. Advisers favor fixed rates in the current environment, noting ARMs start cheaper but may rise over time. Freddie Mac data and economists forecast rates to rise early 2000 with potential stabilization later.
NY AP reports conservative market views from H Bradlee Perry and Gerald W Perritt. Perry warns stocks carry risk and cites history including the 1929 crash and a short investment horizon. Perritt emphasizes tech beneficiaries and sticking with conventional wisdom from 30 years in markets.
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