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Stock market news and forecast

Added: (Thu Jan 29 2004)

Pressbox (Press Release) - Stock market news and prediction

According to e-MasterTrade analytical forecast on Thursday, January 29, 2004 DOW will vary 10335.63-10593.38 and close at 10389.40-10535.74.

Pulitzer Inc. (PTZ) quotation will vary 52.62-54.37 and close at 52.84-54.04

DOW and PTZ Price Forecast: Market News
Thursday, January 29, 2004

Stocks went down on Wednesday, January 28, 2004. Federal Reserve said it will hold interest rates at the lowest level since 1958 but they also said it might be rise in a while.

The blue chips Dow Jones industrial average declined 141.55 points (1.33%), to 10,468.37. The broader Standard & Poor's 500 Index fell 15.57 points (1.36%) to 1,128.48. The technology-laced Nasdaq Composite Index was down 38.67 points (1.83%) to 2,077.37. Stocks showed the biggest lost recently.

Bonds dropped, the 10-year note yield moving inversely to 4.195% from 4.08%.

The Fed is slowly preparing investors for an increase in rates, but the important thing to remember is that there continues to be a certain amount of slack in the economy, so this is still several months away," said Michael Sheldon, chief market strategist at Spencer Clarke LLC. "It'll be at least a couple of weeks, though, to see if this will mark a selloff or not."

Trading was active. About 1.8 billion shares changed hands on the New York Stock Exchange and about 2.3 billion shares were traded on Nasdaq.

The most active companies were Intel Corp (-0.25), SIRI (-0.16), Microsoft (-0.54), ECGI (+0.14), JDSU (+0.01), Lucent tech (-0.16), THC (-2.97), Nortel networks (+0.05).

According to e-MasterTrade analytical forecast on Thursday, January 29, 2004 DOW will vary 10335.63-10593.38 and close at 10389.40-10535.74.

Pulitzer Inc. (PTZ) quotation will vary 52.62-54.37 and close at 52.84-54.04.


According to e-MasterTrade weekly forecast NASDAQ will vary 2063.20-2207.96, and close at 2089.37-2184.44.
Macromedia, Inc. (MACR) will vary 15.89-22.25, and close at 17.07-21.98.
Dentsply International Inc. (XRAY) will vary 41.52-45.45, and close at 42.48-44.64.

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