Nasdaq Third-Quarter 1999 Results

Shares listed on The Nasdaq Stock Market® pushed the Nasdaq Composite® Index sharply higher in the third quarter, while share volume continued to rise. The Nasdaq Composite ended the third quarter of 1999 at 2746.16, a 62.13 percent increase over the same period one year ago. For the year the index climbed 25.24 percent, and finished the quarter with a gain of 2.24 percent. It also posted three of its ten largest single-day point hikes during the period. On July 1, 1999, the Nasdaq Composite Index surpassed the 2700 mark for the first time in its 28-year history, closing at 2706.18. It shattered the 2800 mark on August 25, 1999, finishing at 2805.60. The Nasdaq Composite Index outperformed most other leading stock indices in the third quarter-including the Dow Industrial Average, which declined 5.8 percent. The dollar volume of trading totaled $7.2 trillion for the first three quarters of the year, surpassing that of the New York Stock Exchange by 9.4 percent. The dollar volume of trading in the third quarter of 1999 soared to its highest quarterly amount ever, totaling $2.4 trillion, up 60.3 percent compared with $1.51 trillion for the third quarter of 1998. Average daily dollar volume for the quarter jumped 60.3 percent to $37.8 billion, compared with $23.6 billion in the third quarter of 1998. Share volume also rose sharply in the third quarter, averaging 993.9 million shares per day, up 27.1 percent from 781.8 million shares in the same period last year. Nasdaq's share volume exceeded that of the New York Stock Exchange 185 trading days out of 188 in 1999. The market value of the 4,845 companies listed on Nasdaq increased to $3.36 trillion, a 67.17 percent rise over the same period last year.