Nasdaq rounds off best week ever with new high

The Nasdaq composite index rounded out its best week in history with a new record yesterday as investors moved money from industrial companies that may be hurt by rising interest rates to technology companies.

The Nasdaq rose 33.17 to 4,244.15, above its previous record of 4,235.40, set on January 21. The technology-dominated index rose 9.1 per cent, its best weekly performance in history.

The Dow Jones industrial average fell 49.64 to 10,963.80. Broader indicators were mixed.

The Standard and Poor's 500 fell 0.60 to 1,424.37.

Declining issues outnumbered advancers by a five-to-four margin on the New York Stock Exchange, with 1,564 down, 1,418 up and 543 unchanged.