Internets Lag Behind Techs
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Internet stocks were up only slightly in midday trading Friday, amid new economic figures indicating a faster-than-expected increase in wages during January. The increase perpetuated speculation the Federal Reserve will again hike interest rates to slow down the economy.
At noon Eastern, internet.com's Internet Stock Index had climbed 7.43, or .83 percent, to 906.28, the Nasdaq Composite was up 59.04 to 4,270.02 and the Dow Jones industrial average had added 12.72 to 11,026.16.
Viant Corp. (VIAN) was up 6-7/8 to 106-7/8. The Internet professional services provider Thursday reported $23.7 million in sales during its latest quarter. Also, CS First Boston reiterated its "strong buy."
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