Internets Defying Tech, Blue Chip Downturn
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While all the major indices had posted losses by midday trading Tuesday due to a widening U.S. trade deficit, Internets were defying the downward trend, propelling the ISDEX to a gain of about 1 percent just before noon Eastern.
Just before noon, internet.com's Internet Stock Index had climbed 5.00, or 1.01 percent, to 501.98, the Nasdaq Composite was off 28.63 to 2,857.52 and the Dow Jones industrial average was off 144.69 to 10,678.21.
Most of the sector's leaders were higher, including America Online Inc. (AOL) which had gained 3-5/8 to 86-7/16. The company Tuesday announced its AOL and CompuServe brands were adding members at a record-pace during the quarter.
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