Word: nasdaq
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Dates: during 2000-2009
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...oracle. For weeks, Wall Street has been a chastened bettor, placing few bets and admitting its ignorance. Then Cisco announced after the bell Tuesday that the year in tech looked pretty good - and Wednesday the casino was jumping again with a furious rally that added 122 points to the NASDAQ and 305 points to the Dow, the biggest daily gains of 2002. Nobody even complained about Cisco's obvious conflict of interest as a company that stands to profit from a tech rebirth...
...Merrill Lynch reported that a survey of Wall Street strategists found that 69 percent say this is a good time to buy stocks - and told clients to sell, since with that much optimism there was sure to be further disappointment. And by the closing bell, they were already right - NASDAQ (down 35) had plunged through the 1600 level, the Dow (down 190) had erased all of last week's gains, and blue-chips everywhere were hitting new lows...
...that evidence - with some nice geopolitical uncertainty thrown in for good measure - Wall Street is having trouble getting out bed in the morning. After the University of Michigan took the air out of the GDP number, the Dow and NASDAQ started to sag under IBM and Microsoft and not a few other heavywieghts, and after a last trading hour of total dejection, the Dow had had its worst week since September and was back under five digits at 9,910. The NASDAQ sank 49 to 1,663. Only bonds celebrated, and on the postgame shows, the capitulation-watch was back...
...recently unveiled a prototype of a fuel-cell-powered laptop that looks acceptably normal. The power supply weighs half as much as existing laptop batteries and can run the machine for 20 hours at a stretch?quadruple the longevity of a fully charged lithium-ion battery. Medis Technologies, a NASDAQ-listed Israeli company, has designed a tiny, 80-g fuel cell that can sustain 20 hours of mobile-phone conversation...
...everyone's having 70s flashbacks. Stocks sold off across the board Tuesday, with the Dow losing another 49 points, the S&P dropping 10 and the NASDAQ losing 58 (although techs are dealing with internal earnings issues more than geopolitical ones). Crude oil prices, meanwhile, hit six-month highs during Tuesday's session, and coal, natural gas and pipeline stocks followed suit to become the new hot tickets of the week...