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CNN Live At Daybreak
Happy Anniversary Dow 30
Aired May 27, 2003 - 06:43 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time now for a little business buzz. The Dow Jones industrial average goes south of the border.
Let's go back live to New York and Susan Lisovicz.
Do I even want to hear more on that?
SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: Yes, you do. Yes, you do, especially if you're a Mexican investor, because you will soon be able to buy blue chips with pesos. The Mexican Stock Exchange tells Reuters that all Dow 30 stocks will start trading at the exchange starting May 29, which would be Thursday. Citigroup, the only Dow stock which currently trades on that exchange.
And speaking of the Dow, yesterday, a day when the markets were closed, was the 107th birthday of the Dow Jones industrial average, which started on May 26, 1896, with an opening value of just under 41 points. It closed at 86.01 on Friday. At that time, only 12 stocks traded compared with 30 today.
And, Carol,...
COSTELLO: Yes.
LISOVICZ: ... it's quiz time.
COSTELLO: No.
LISOVICZ: There is one original member of the Dow that still trades. I'll give you a clue, it makes light bulbs and it owns the network that carries "Friends."
COSTELLO: GE.
LISOVICZ: You are correct. The only one. The only one that survived.
COSTELLO: Thanks for giving me those hints.
LISOVICZ: They were important hints, weren't they?
COSTELLO: Definitely so.
Look at the futures.
LISOVICZ: Lower. Wall Street, of course, getting back to business after the three-day holiday weekend. On Friday, stocks ended slightly higher, but closed lower for the week. For the week, the Dow losing nearly 1 percent, the Nasdaq down nearly 2 percent.
In economic news today, we get the closely watched consumer confidence index. Economists expect that index to rise slightly. Also due today, new home sales and pre-owned home sales.
Back to you -- Carol.
COSTELLO: Thanks -- Susan.
LISOVICZ: With an A.
COSTELLO: Thank you. A lot of fun as always. Susan Lisovicz live from New York.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired May 27, 2003 - 06:43 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time now for a little business buzz. The Dow Jones industrial average goes south of the border.
Let's go back live to New York and Susan Lisovicz.
Do I even want to hear more on that?
SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: Yes, you do. Yes, you do, especially if you're a Mexican investor, because you will soon be able to buy blue chips with pesos. The Mexican Stock Exchange tells Reuters that all Dow 30 stocks will start trading at the exchange starting May 29, which would be Thursday. Citigroup, the only Dow stock which currently trades on that exchange.
And speaking of the Dow, yesterday, a day when the markets were closed, was the 107th birthday of the Dow Jones industrial average, which started on May 26, 1896, with an opening value of just under 41 points. It closed at 86.01 on Friday. At that time, only 12 stocks traded compared with 30 today.
And, Carol,...
COSTELLO: Yes.
LISOVICZ: ... it's quiz time.
COSTELLO: No.
LISOVICZ: There is one original member of the Dow that still trades. I'll give you a clue, it makes light bulbs and it owns the network that carries "Friends."
COSTELLO: GE.
LISOVICZ: You are correct. The only one. The only one that survived.
COSTELLO: Thanks for giving me those hints.
LISOVICZ: They were important hints, weren't they?
COSTELLO: Definitely so.
Look at the futures.
LISOVICZ: Lower. Wall Street, of course, getting back to business after the three-day holiday weekend. On Friday, stocks ended slightly higher, but closed lower for the week. For the week, the Dow losing nearly 1 percent, the Nasdaq down nearly 2 percent.
In economic news today, we get the closely watched consumer confidence index. Economists expect that index to rise slightly. Also due today, new home sales and pre-owned home sales.
Back to you -- Carol.
COSTELLO: Thanks -- Susan.
LISOVICZ: With an A.
COSTELLO: Thank you. A lot of fun as always. Susan Lisovicz live from New York.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
