Tech Stocks Outpace Internet Issues
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While the Dow and Nasdaq had posted healthy gains by midday, Internet stocks were not as fortunate although there was little news to point investors in any direction.
Just before noon, internet.com's Internet Stock Index was up 4.58, or .99 percent, to 468.23, the Nasdaq Composite had climbed 27.50 to 2,665.99 and the Dow Jones industrial average had jumped 108.59 to 10,763.74.
Amazon.com Inc. (AMZN) was off 11/16 to 99-3/8. Over the weekend, Barron's posed doubts about the company's growth strategy. The newspaper said while the company has expanded its product line, the number of repeat customers -- historically one of Amazon's biggest strengths -- is falling this year.
Despite the lack of news, several issues were up nicely, including Priceline.com Inc. (PCLN) up 4-1/16 to 79-5/8, Broadcom Corp. (BRCM) climbing 2-7/16 to 122-15/16, Inktomi Corp. (INKT) adding 3-1/8 to 111-9/16 Juniper (JNPR) up 7-1/16 to 169-1/2.
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