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OUTLOOK ARENA >> VIEWS ON NEWS >> JUNE 19, 2004 Global markets: Lackluster week Profit booking among tech stocks clipped nearly 1% off the Nasdaq during the week ended June 18, 2004. Dow, on the other hand remained almost unchanged, thanks largely to gains in select blue chips. With both the benchmark indices showing divergent trends, there have been talks about the possibility of re-emergence of sector rotation strategy, whereby investors seem to be rotating their money from seemingly overheated tech stocks into defensive, high dividend paying sectors like industrials and transport, probably in anticipation of higher interest rates. A profit warning earlier in the week from a not so active Nasdaq component called Jabil Circuit gave investors an excuse to book profits in the tech laden Nasdaq and might have also led to weakness in the same.
Approximate Word count = 463
Approximate Pages = 1.9
(250 words per page double spaced)
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