Online Brokerages Lead Market Winners
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Internet stocks continued their hot streak today, with online brokerages leading the pack as the overall tech sector gave back some of yesterday's gains.
At midday, internet.com's Internet Stock Index was up 8.57, or 1.40 percent to 619.66, the Nasdaq fell 16.91 from yesterday's record to 3180.38, and the Dow Jones industrial average was up 32.49 to 10627.79.
The online brokerage sector led the Internet stocks up, as E*Trade (EGRP), Ameritrade (AMTD), DLJ Direct (DLJ) and Charles Schwab (SCH) all posted nice gains. E*Trade was up 2 11/16 to 33 5/8, Ameritrade rose 1 5/8 to 20 13/16, DLJ posted a 2 7/8 point gain to 51 1/8, and Schwab gained 3 1/2 to 40 7/16.
After plummeting more than 20 points earlier in the week, Juniper Networks (JNPR) rose more than 20 15/16 to 282 5/8 by midday. The company competes with Cisco Systems, Inc. (CSCO) in the router space. Cisco was down 1 3/32 to 82 21/32.
Some other stocks leading the rise include America Online (AOL), up 4 9/16 to 146 13/16, Doubleclick (DCLK), which climbed 7 3/8 to 147, Real Networks (RNWK), up 6 1/8 to 135 1/8 and Ariba (ARBA), which rose 7 9/16 to 201 13/16.
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