Etrade.com shows the DOW up about 6, Bloomber says down 170. Etrade had it right earlier but now the Nasdaq chart shows up all day. What is going on?

-- Howard (roark@not.now), January 03, 2000

Answers

wow this is interesting,dow is down 189 nasdaq is down 74!!!!

-- elisabeth giles (rapturebound@webtv.net), January 03, 2000.

It's a very strange day in the markets.

Currently;

DOW is down 185 points

NASDAQ is down about 80 but it was up nearly 180 points at one time in the opening moments. Truly strange.

S&P is down nearly 30

Mike

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-- Mike Taylor (mtdesign3@aol.com), January 03, 2000.

Big Charts.com

-- TM (mercier7@pdnt.com), January 03, 2000.

Who cares? Gold is $11506.73!!!

See USA Today post below.

-- Total Doomer (sky@falling.com), January 03, 2000.

isn't the first day of trading every year like this, with people selling now, versus in december to delay taxes on profits for a year?

-- gary elliott (Gelliott@real.on.ca), January 03, 2000.

actually, the dow & nasdaq went up early because of y2k good news from other markets, then sunk because of insider tips of y2k related crises, and is now climbing back a bit (135 at this post) because another y2k related something or other.

what's the connection folks. I read that the drop was due to an impending rate hike (cnnfn), the one the fed wouldn't do a week ago due to y2k fears, but is now fully prepared, since to almost everybody, the real fears have past.

-- Mike (mike@noemail.net), January 03, 2000.

Mike......

Where do you get your information that the markets went down ("then sunk because of insider tips of y2k related crises" as you put it) because of insider tips of y2k related crises?

-- Craig (craig@ccinet.ab.ca), January 03, 2000.

sorry, I was being sarcastic. The assumption about the dow haveing an off day being related to y2k (though all the news has been very good in that regard) I thought was silly.

If there were serious glitch reports coming down the pike, then the dow went down, that would make sense. But nothing like that occured.

The assumption from several posts was a bad dow day was reflective of y2k problems.

Flawed logic, which I (rather poorly) attempted to expose through the use of sarcasm.

Sorry, Mike

-- Mike (mike@noemail.net), January 03, 2000.

The bubble continues: negative breadth, very small percentage of stocks providing the vast majority of the gains. "Volatile" is hardly the word...

TheStreet.com:

Nasdaq a Breed Apart as Internet Stocks Take It to Record High Close

1/3/00 4:45 PM ET

Powered by the upside nuclear-fueled engine that is the Internet sector, the Nasdaq Composite Index recovered from a late morning swoon and ended in the green at an all-time closing high.

Meanwhile, the 30-year Treasury bond's yield soared to 6.62% as the bond market suffered through a dreadful session.

The Nasdaq Comp endured a turbulent ride today, rising as high as 4192.19 early in the session - an all-time intraday high - and falling as low as 3989.71 late in the morning, a swing of 202.48. The Comp rose 61 to 4131, an all-time closing high.

TheStreet.com Internet Sector index surged 64 to 1218 to close at an all-time high. The DOT hit an all-time intraday high by peaking at 1218.47 late in the day.

Powering the DOT were whopping gains in CMGI (CMGI:Nasdaq - news) and Yahoo! (YHOO:Nasdaq - news).

TheStreet.com E-Commerce Index soared 6%.

Meanwhile, the blue-chip Dow Jones Industrial Average got crushed, dragged down the most by American Express (AXP:NYSE - news), which was off 9 to 157 1/4. The Dow swooned 140 to 11,357. American Express, along with other financial sector stocks, got pummeled, falling under the weight of huge losses in the Treasury market. Conversely, providing the most positive influence on the Dow was IBM (IBM:NYSE - news), which was up 7 11/16 to 115 9/16.

The market's overall decline -- excluding tech and Internet stocks -- was blamed in part on Fed interest rate hike fears. The Fed's policymaking body, the Federal Open Market Committee, next meets on Feb. 1-2.

The S&P 500 slumped 14 to 1455. The small-cap Russell 2000, which has performed well lately, got beaten up. It tumbled 8 to 497.

Market Internals

Breadth was negative overall, with losers crushing winners on the Big Board, while volume was robust, particularly on the Nasdaq Stock Market.

New York Stock Exchange: 1,080 advancers, 2,139 decliners, 926.9 million shares. 109 new 52-week highs, 130 new lows.

Nasdaq Stock Market: 2,094 advancers, 2,195 decliners, 1.48 billion shares. 269 new highs, 81 new lows...

-- DeeEmBee (macbeth1@pacbell.net), January 03, 2000.

hang on a sec...

Right, that oughta do it...

-- DeeEmBee (macbeth1@pacbell.net), January 03, 2000.