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Cable World, March 27, 2000

Market Comment

NET INDEX ADVANCES -- Internet stocks advanced last week with content delivery stocks taking the lead after Web hosting leader Exodus said it's taking a stake in Mirror Image. The Goldman Sachs Internet Index jumped 2.7% March 22, following a 5.1% rise March 21 after Fed policy-makers made their highly anticipated move to raise interest rates by a quarter of a percentage point. The Amex Internet Index added 1.5%, after tacking on 4.4% by the close of March 21.

The Nasdaq spiked higher last week jumping 2.6% to 4,835 due to a rally in the chip sector, while the Dow Industrials dropped 0.9% to 10,809 and extended earlier losses.

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Shares of America Online Inc. were up 3.5 to 70.88 and Yahoo! rose 7.25 to 199. After bolting 8.18 last week, Amazon shares slipped 1.06 to 71.31. Ebay added 19.25 to 233.25.

 

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