Author: JT Smith
The markets take a dive this week as investors lose confidence in the U.S. Federal Reserve; Hewlett Packard admires Debian; and more Microsoft bashing. This was a light week for Open Source and related stocks; it was a light week overall for Wall Street. Trading volume was extremely light today, and analysts caution that any moves made in such a market shouldn’t be given much credibility. The markets did, however, close down from last week.
In fact, both the Dow and Nasdaq indexes dropped every day this week. That ended at the bell with the Dow at 10,821.31, down 89 points for the day, and 130 points from last Friday. The Nasdaq index closed at 2107.43, down 21 points for the day, and 84 points from last Friday.
Last Friday’s good news might have been this week’s not-so-good news. Last week at the bell, the markets closed up on faith that the Fed would cut interest rates; this week, tech stops slid a bit as investors guessed that those cuts might not be as much as expected. We’ll know for sure next week, when the Federal Reserve will announce what, if any, reductions will make.
Independent market analyst James Philburn is still optimisitic. “We’re still doing better than we thought we would be doing at this time of the year; consumer confidence is better now than it was at Christmas. I don’t think people want another bubble, they’re still being cautious, they’re still skittish, these dips are normal.”
HP loves Debian
Apple sets a date
Here’s how some Open Source and related stocks did this week:
|Company Name||Symbol||5/11 Close||5/4 Close|
|VA Linux Systems||LNUX||4.57||4.88|
|Wind River Systems||WIND||22.54||25.52|
Not bad for a “weak and unstable” operating system, is it?
- Open Source