A slip in consumer confidence during August was sending stocks downward across the board Tuesday, including many in the Internet sector.
Just after noon, internet.com’s Internet Stock Index had fallen 8.75, or 1.83 percent, to 469.30, the Nasdaq Composite was off 23.25 to 2,689.44 and the Dow Jones industrial average had slumped 69.02 to 10,845.11
The Conference Board reported Tuesday that its consumer confidence index dipped to 135.8 from a revised 136.2 in July. That figure beat economists’ expectations of 134.2.
On Tuesday, AOL and eBay launched a new co-branded site that will give AOL users easier access to eBay auctions.
Excite@Home (ATHM) slumped 2 to 39-1/2. On Tuesday, the company took several minority stakes totaling $45 million in Rosenbluth Interactive. Rosenbluth has invested in a number of Internet start-ups, including WebMD, Webstakes.com, Quokka Sports and E-Stamp.
ALL NEW! internet.com’s HotWatch a monthly e-mail subscription for $99,
featuring Internet Stock Report’s top 10 noteworthy Internet stocks for the
month. Each month you will receive in-depth analysis on the top 10 Internet
stocks to watch with the information you need to assess the fast-paced nature
of Internet stocks. Staying on top of market changes in the Internet Stock
market is what counts. For $99 per year, you receive 12 timely issues sent to
you by e-mail. Don’t wait, our next issue will be out before you know it with a
perspective on the market. Sign up today at: e-newsletters