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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Oct 28, 2000
Page
6
The Money section provides closing prices and quotations for markets as of October 27 2000. Data come via Ron Campbell Investment Planning Rayman Raymond James Financial Services and include NASD and SIPC member information.
The Commerce Department reports the economy grew at a 2.7 percent annual rate in the July September quarter, the slowest pace in over a year. Officials note the slowdown follows reduced government spending and weaker business investment, though the administration argues it remains stronger than during Republican administrations.
Tech stocks rallied after JDS Uniphase beat earnings expectations boosting tech sentiment while a softer growth read cooled inflation fears. The Dow rose about 210 points to 10,590, with Nasdaq at 3,278 and S&P 500 near 1,380 as Amgen, Microsoft, and SBC led gains but Nortel remained weak. The GDP figure showed 2.7 percent growth in Q3, easing rate-hike worries and suggesting the Fed may keep rates steady.
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