US stocks ended a lacklustre first half of 2000 on an upbeat note, as institutional investors bought the year's big winners and discarded underperforming issues.
In a final hour rally yesterday, the Dow Jones industrial average erased a small loss to gain 49.85, or 0.5 per cent, to close at 10,447.89. For the week, the Dow added 43 points.
Riding a wave of buying of computer chips and semiconductor concerns, the Nasdaq composite index rose 88.87, or 2.3 per cent, at 3,966.10. The Nasdaq added 120.78 for the week.
The Dow finished down 9 per cent for the first half of the year, down 1,302.31 off its high reached this spring.
The Nasdaq finished the first half of the year down 2.54 per cent, and 1,166.40 off its high.
Broader stock indicators also were higher yesterday. The Standard and Poor's 500 index was up 12.21 at 1,454.60.
Trading was expected to be choppy yesterday, the final day of the second quarter and the day before a long weekend for many investors who plan to skip Monday's abbreviated trading session. US financial markets will close three hours early on Monday and be closed on Tuesday in observance of Independence Day.
The Russell 2000 index rose 4.65 at 517.23.
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