Dow to Test Amex Prices for Nasdaq Stocks
Dow Jones & Co. will test the use of American Stock Exchange opening and closing stock prices for Nasdaq Stock Market companies in calculating the Dow Jones industrial average.
The pilot program involves prices for Microsoft Corp. and Intel Corp., the two Nasdaq stocks in the Dow average, as well as seven Nasdaq stocks in the Dow Jones transportation average, the company said Wednesday. Managers of funds that try to mimic the Dow averages sought the test because it was difficult to execute orders at opening and closing prices on the Nasdaq system, New York-based Dow Jones said.
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