Amazon.com Powers ISDEX Higher
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internet.com's Internet Stock Index had jumped almost 2 percent in midday trading, largely on the strength of Amazon.com Inc. which Wednesday unveiled a major e-commerce announcement.
Just before noon, the ISDEX had climbed 9.97, or 1.92 percent, to 529.09, the Nasdaq Composite was up 1.52 to 2,757.77 and the Dow Jones industrial average was up 14.57 to 10,290.10.
Amazon.com (AMZN) had jumped 11-3/16 to 77-1/16. The company Wednesday unveiled what will essentially be a virtual online mall, allowing individuals and small businesses to sell a variety of items to Amazon.com customers. The online retailer will also handle all the billing services.
Other strong movers included Excite@Home (ATHM) up 4-1/4 to 42-5/8, Doubleclick Inc. (DCLK) adding 6-1/16 to 119-7/8, CMGI Inc. (CMGI) up 2-3/16 to 100-3/4 and Lycos Inc. (LCOS) climbing 2-5/32 to 50-7/16.
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