03 Jan 2003 Happy New Year
Posted at 16:26h in The Friday BriefThere is an axiom on Wall Street that says ‘as goes January, so goes the year.’ Yesterday certainly got January off to a good start. The first trading day of the New Year saw the Dow rise by 3.2%, the S&P 500 by 3.3% and the NASDAQ by 3.7%. Volume was heavier than the preceding week, but was still well below normal. However, the buying volume was six times the selling volume; further proof that selling is on the decline.