Markets Start Week on High Note
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The broader markets surged Monday as all three major indices set new records ahead of Tuesday's key Federal Reserve meeting.
internet.com's Internet Stock Index had jumped 18.40, or 3.88 percent, to 492.27, the Nasdaq Composite was up 71.58 to 2,719.91 and the Dow Jones industrial average climbed 194.74 to a record 11,295.33.
Transaction Network Services Inc. (TNI) had soared 9 to 43-1/4 and PSINet Inc. (PS IX) had gained 5/16 to 45-7/8. PSINet Monday acquired TNS, a processor of Internet and credit card transactions, for $720 million in cash and stock.
Note: Hear Internet Stock Report Senior Analyst Chris Nerney tonight on TradersRadio.com. Chris and show host Michael Mermer will discuss the latest trends in Internet stocks and what to expect in the coming months and beyond. Show starts at 9 p.m. Eastern. Go to www.tradersradio.com to hear the half-hour program.
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