Consumer Price Numbers Give Markets Reason to Cheer
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Investors sent all major U.S. market indices higher Tuesday after the government reported consumer price hikes in September were in line with expectations, giving markets less reason to fear the nation's economy may be slowing.
Just before noon, internet.com's Internet Stock Index was up 17.33, or 3.36 percent, to 533.31, the Nasdaq Composite had risen 35.46 to 2,724.61, the Dow Jones industrial average had soared 198.19 to 10,314.47.
Up ahead of earnings were Ariba Inc. and BroadVision Corp. (BVSN) BroadVision had climbed 4-5/8 to 157 and Ariba had rocketed 11-7/16 to 177-3/4. Both are reporting later Tuesday with Ariba expected to see a 17-cent loss for its fiscal fourth quarter and BroadVision is expected to earn 13 cents a share in the third quarter.
Most leaders were higher with America Online Inc. (AOL) up 3-5/8 to 113-3/4, Amazon.com Corp. (AMZN) had risen 2-5/8 to 76-11/16, eBay Inc. (EBAY) was up 3-5/8 to 133-1/8, CMGI Inc. (CMGI) up 3-9/16 to 97-7/8, eToys (ETYS) had jumped 6-1/16 to 69-9/16, Real Networks Inc. (RNWK) up 6-7/8 to 102-7/16 and Yahoo! Inc. (YHOO) up 4-1/2 to 174-7/8.
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