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Wall Street began Monday higher in each of the three leading averages in New York City, paced by word of the capture of a leading Al-Qaeda operative over the weekend in Pakistan, but things quickly turned lower starting at 10am ET after the release at that hour of the February ISM index on the manufacturing sector in the U.S. The numbers came in significantly weaker than expected in most areas, the notable exception being the Prices Paid index which came in significantly above expectations, and as a result investors spent most of the rest of the day selling U.S. stocks for fear of a once again slowing economy. By the closing bell, it was the blue-chip Dow and the broader S&P 500 index each losing around two-thirds of a percent on the day, while the Nasdaq's technology index slid even more, finishing off more than 17 points or 1.29% as the battered semiconductor sector led on the downside after a key technical level failed to hold, and investors continued to find no optimism regarding the group on Wall Street heading into the rest of 2003.
Today's MarketsS&P Futures Premium 3/3/03: UP 1.00 |
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On Wednesday, October 30, we're back with more FREE StockLab.com Insider stock option profiles, which are released FREE to every viewer of StockLab.com's website every other Monday. This week, we're focusing on call options on leading credit card firm MBNA (KRB), and put options on genetics-based biotech company Human Genome Sciences (HGSI).
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