Blue-chip stocks inched higher yesterday on a reassuring profit forecast by Eastman Kodak, but technology shares sagged for a fourth consecutive session in light trading amid worries that profits in the sector would not rebound as soon as investors hoped.
Stocks spent most of the day in positive territory, with the Standard & Poor's 500-stock index hitting a session high near 1,320 for a second consecutive session, driven by strength in the telecommunications sector and consumer spending data.
Wall Street closed with a flourish Monday, finishing in positive territory for a second consecutive session and ending near session highs.
Shares in gene discovery companies soared for a second consecutive session yesterday, following Wednesday's announcement by Human Genome Sciences Inc. that it had received a patent on a gene involved in the transmission of the virus that causes AIDS.
For a second consecutive session, blue-chip stocks moved higher.
Enron, the most-active stock on the New York Stock Exchange for a second consecutive session, tumbled $1.98, to $5.01, on worries the company may not stay afloat long enough to be rescued in a pending takeover by Dynegy.
As a result, refinery stocks were surging for a second consecutive session.
As a result, refinery stocks surged for a second consecutive session.
For a second consecutive session investors had to wade through bad news for the economy to nudge stocks higher.
Stocks in the three major indexes extended their gains for a fifth consecutive session on Monday, edging up in thin volume ahead of the onslaught of corporate reports that started with Alcoa.
Oil prices declined for a fifth consecutive session as a cease fire in Najaf eased concern that shipments from Iraq would be disrupted.
