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CNN Live At Daybreak
Second Quarter Ends Today
Aired June 30, 2003 - 06:16 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 for a little business buzz right now. Today the market begins a week that will be shortened by the Fourth of July holiday.
For a preview of all the action, we hope it's action, let's go to Carrie Lee at the Nasdaq market site.
Good morning -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.
That's right, July 1, which is this Thursday -- I'm sorry, July 3, the markets will close at 1:00 p.m. Eastern and then, of course, close for the July 4 holiday.
Let's take a quick look at last week though, because not only did the markets lose ground on Friday, but all of the major indexes did, and lower for the week. The Dow down about over 2 percent, as did the S&P 500. The Nasdaq ended lower by just over 1 percent.
But if you take a look at the recent quarter, which officially ends today of course, the second quarter of 2003, well what a quarter it has been, the major indexes enjoying their biggest gains in quite some time. The Dow, the S&P 500 have seen their best quarter since the fourth quarter of 1998. The Nasdaq, even better, up over 21 percent, that index's best quarter since the first quarter of 2001. So we are coming off of some very nice gains here. Once again, the quarter ending today.
What happens next? Well, the profit warning season kicks in and a lot of the economists say that an economic recovery in the second half of the year is already priced into the market. That is that if we start to see some more warnings than expected, we could take a little bit of a hit, Carol. So people have enjoyed nice gains so far. We'll see what happens going forward over the next couple of weeks.
COSTELLO: Yes, keep our fingers and our toes crossed. Carrie Lee, many thanks. You'll get to the futures the next half hour. We appreciate it.
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 June 30, 2003 - 06:16 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz right now. Today the market begins a week that will be shortened by the Fourth of July holiday.
For a preview of all the action, we hope it's action, let's go to Carrie Lee at the Nasdaq market site.
Good morning -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.
That's right, July 1, which is this Thursday -- I'm sorry, July 3, the markets will close at 1:00 p.m. Eastern and then, of course, close for the July 4 holiday.
Let's take a quick look at last week though, because not only did the markets lose ground on Friday, but all of the major indexes did, and lower for the week. The Dow down about over 2 percent, as did the S&P 500. The Nasdaq ended lower by just over 1 percent.
But if you take a look at the recent quarter, which officially ends today of course, the second quarter of 2003, well what a quarter it has been, the major indexes enjoying their biggest gains in quite some time. The Dow, the S&P 500 have seen their best quarter since the fourth quarter of 1998. The Nasdaq, even better, up over 21 percent, that index's best quarter since the first quarter of 2001. So we are coming off of some very nice gains here. Once again, the quarter ending today.
What happens next? Well, the profit warning season kicks in and a lot of the economists say that an economic recovery in the second half of the year is already priced into the market. That is that if we start to see some more warnings than expected, we could take a little bit of a hit, Carol. So people have enjoyed nice gains so far. We'll see what happens going forward over the next couple of weeks.
COSTELLO: Yes, keep our fingers and our toes crossed. Carrie Lee, many thanks. You'll get to the futures the next half hour. We appreciate it.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
