Stock market: weekly review.[E]

The major part of the week Wall Street main indexes traded without the certain tendency on a bases of mixed economic data. From the one side the signs of slowdown in economy and weak Payrolls hint on further pause in FED policy of high rates. From the other – FED fears on increasing inflation pressure point to further rate tightening.
By the end of a week S&P 500 added 0.1%, Nasdaq Composite lost 0.2%, and Dow Jones Industrial Average fell 0.7%.
The Telecommunication showed the best results despite weekly 22.8% drop in ADC Telecommunications after the company said about planning to buy Andrew Corp for $2 bln. Ciena became the leader in this sphere. The manufacturer of program equipment for telecommunications highlighted reducing charges and optimistic forecast for the 3Q. As a result the company’s shares added 17.8% for the week.
Qwest supported growth. The company has added 9.4% and got the biggest gains since August 2002. AT&T upgrading led to 1.4% share gains. Copper prices decrease led to 2.5% fall on Phelps Dodge shares.
The public health sector could recover owing to UnitedHealth shares increase on 6%.Cigna increased on 5.5%, and Aetna shares +4.4%.
Technological sector was in a great demand. Cisco added 0.5%, and Sun Microsystems +1.6%.