'Old economy' boosts Dow - Oct. 3, 2000

Markets & Stocks

'Old economy' boosts Dow

October 3, 2000: 12:10 p.m. ET

Aerospace, industrial stocks pace blue chip surge; Nasdaq recovers

NEW YORK (CNNfn) - Aerospace and industrial stocks assumed leadership on Wall Street at midday Tuesday, pushing the Dow Jones industrial average sharply higher. The Nasdaq composite index rebounded from a mid-morning slump to show a modest gain.

Among the key gainers were chemical maker DuPont (DD: Research, Estimates), up $2.13 to $43.75; the conglomerate 3M (MMM: Research, Estimates), $3.25 higher at $94.94; and the two aerospace Dow components: Boeing (BA: Research, Estimates), up $1.63 to $60.06, and United Technologies (UTX: Research, Estimates), up $2.94 to $71.19.

At 12:05 p.m. ET, the Dow Jones industrial average rose 114.68 to 10,814.81. The Nasdaq composite index gained 26.79 to 3,595.69, while the S&P 500 advanced 11.73 to 1,447.96.

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