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Investor's Business Daily

| May 03, 2002 | COPYRIGHT 2002 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Chips Take Surprise March Leap

1Two factors led to the big jump in sales: low inventories at firms that use chips in their products and soaring memory chip prices. So the industry isn't lifting its 2002 forecast of 7% growth. The Semiconductor Industry Association said global chip sales hit $10.75 billion in March, up 7.2% from February and the biggest monthly percentage jump since April 1986. More on this page

Factory Orders Beat Predictions

2New orders rose to a seasonally adjusted $318.5 billion in March, up 0.4% and topping economists' views of 0.1%. Durables fell 0.5%, but nondurables jumped 1.6%. Not counting defense, orders rose just 0.1%. Transportation orders dropped 1.3% after Feb.'s 11.3% surge. Q1 new orders grew 5.5% over a year ago. Inventories fell for the 14th straight month. See Vital Signs on A2

Blue Chips Rise As Techs Slump

3The Dow industrials added 0.3%, lifted by cyclical, financial and consumer stocks. But techs were still dismal. The Nasdaq lost 1.9%, undercutting Monday's low by a fraction of a point. The attempted rally for the Dow and S&P 500 remains intact. But the Nasdaq will have to try again. Volume eased across the market. More on B2

Layoffs Increased Again In April

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