Internets Defying Tech, Blue Chip Downturn

While all the major indices had posted losses by midday trading Tuesday due to a widening U.S. trade deficit, Internets were defying the downward trend, propelling the ISDEX to a gain of about 1 percent just before noon Eastern.

Just before noon, internet.com’s Internet Stock Index had climbed 5.00, or 1.01 percent, to 501.98, the Nasdaq Composite was off 28.63 to 2,857.52 and the Dow Jones industrial average was off 144.69 to 10,678.21.

Most of the sector’s leaders were higher, including America Online Inc. (AOL) which had gained 3-5/8 to 86-7/16. The company Tuesday announced its AOL and CompuServe brands were adding members at a record-pace during the quarter.

eBay Inc. (EBAY) had jumped 4-1/8 to 140-1/8. The company Tuesday announced the creation of Great Collections, a site dedicated to collectibles, art and antiques.

Ariba (ARBA) was up 3 to 137-1/2, Juniper Networks (JNPR) had climbed 4 to 187, Lycos Inc. (LCOS) was up 3-7/16 to 47-3/16, Priceline.com Inc. (PCLN) had added 1-9/16 to 65-3/4 and Yahoo! Inc. (YHOO)was up 4-5/8 to 173.

Finally, About.com Inc. (BOUT) had jumped 3-1/2 to 38-1/2 after E*Offering reiterated its strong buy on the stock.

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